Identity Theft Restoration Can Take Time And Effort
September 6th, 2008 Subscribe To Our Feed
Once a person’s identity has been stolen in can take years to return their credit report and reputation back to normal. All victims of identity theft relate how difficult it was to climb out from under the problems created when someone else destroyed their financial well-being by pretending to be them. However, as difficult as it may be identity theft restoration can be completed over time, provide the right steps begin as soon as the problem is discovered.
One of the first steps needed to be taken for identity theft restoration is convincing creditors with which fraudulent accounts have been opened that the account was opened as a result of identity theft. Notifying the three major credit reporting agencies of the theft can result in a temporary freeze on credit report access but will take considerably more documentation to extend the freeze for seven years.
Unfortunately, the credit reporting agencies and many creditors take reports of identity theft as an attempt by an individual to get out of paying for their obligations. Especially when charges and other issues with their credit take place in or near their home town. The biggest battle in identity theft restoration may simply be convincing everyone that it happened to them.
Filing Police Report Does Not End Theft Battle
Even when local law enforcement is will to fill out a report on the alleged theft of identity, not everyone recognizes the report as valid proof the individual is not the one that bought the new car, or opened the new line of credit. Although if any business can provide video evidence of the illicit transaction it can be used in identity theft restoration efforts. Federal and state laws have been enacted to give victims more tools in fighting back against identity theft, but it is taking financial institutions a long time to accept that fraud may have been committed.
Not everyone that is told about the theft of an identity is going to instantly believe it. Making sure the facts are available and accurately reported can go a long way down the path of identity theft restoration. How it was determined the theft took place, any accounts opened under fraudulent pretenses and where will all be needed when filling out a report.
Documenting every thing that has been charged under the victim’s name as well as documentation t prove they are not at the location of the charge at the time it was made can play a big role in identity theft restoration for the victim.
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Identity Theft Protection – The Options You Could Use
August 30th, 2008 Subscribe To Our Feed
Prevention is always better than cure. When you talk about identity theft know about what type of risks you might be running into – the thief might use the personal information stolen from you to avail of a loan in your name which you would not only have to pay back as it is very difficult to prove that it was not you who took the loan, but also live with a terrible credit record until that time.
The thief might use the information gathered about you to get a job in your name and you would find that all of a sudden you are caught in a fraud racket for no fault of yours. Similarly, the thief might be impersonating you and cashing in your savings or even your medical insurance. It is simply amazing what a thief can do when he or she has the right information about you. Therefore you need identity theft protection.
Identity Theft Protection Is Possible
Ensure that you protect yourself against such scenarios with a few very simple steps. Never carry your social security number in your wallet or handbag. If you are unable to memorize it here is a great way to note it down. Use a paper and then add or subtract a significant number in your life from it. For example, you could minus your date of birth 111770 (representing 11 Nov 1970) from the social security number and you note down the resulting number.
Now, whenever you want your number you would need to add your birthday to the number you are carrying and bingo you have your number ready for use. This would ensure that the thief cannot use your security number even if they wanted, because it is incorrect. Isn’t that poetic justice? This is a good way to enjoy identity theft protection with the minimum effort.
The best identity theft protection comes with destroying all type of old “important” papers around the house. Say, what do you do with the credit card that has expired? What do you do with the old (paid) credit card bills? What do you do with your junk mail which forwards to you a pre-approved credit card or loan? You need to run all of these through a shredder lest it would fall in the wrong hands.
Another way to gain identity theft protection is to use only debit card and small amounts of cash in your pocket, leaving all your credit cards at home. Credit card information is much easier to steal than that of debit card and therefore you are more prone to identity theft when you use credit cards.
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Identity Theft Prevention Is Your Best Possible Protection
August 24th, 2008 Subscribe To Our Feed
Identity theft prevention is achievable with a few common-sense steps that would be able to thwart the best efforts of the would-be thief. You must be aware that identify theft is possible both online and offline with the help of little clues that you leave for these unscrupulous people to pick up and manipulate.
Identity Theft Prevention - Act Today, Now
Make it a habit to tear all the papers you want to throw in the waste basket whether you are in your office or at home. When you want identity theft prevention this should be of paramount importance as a thief can go through your thrash and pick up critical information from there otherwise.
Are you aware about phishing? This is not a spelling mistake; rather it is a very important aspect to be discussed regarding identity theft prevention. You need to know that people could be skimming your information right when you type it in on your PC or laptop – say the password or name and the credit card number. Some thieves use the credit card carefully even after they gather the correct information about it, milking the host forever. Of course there are the others who would simply dip in and wipe out a large amount of money leaving you behind holding a huge debt and a poor credit card history.
The identity theft prevention in this case involves being extra careful when you find anyone asking you to fill in your password or any other such privileged information. Never have any of your financial data stored on the computer. There is a possibility that someone could be accessing your computer as you use it and then you would be totally vulnerable.
If you are using a laptop, do not feed in automatic access to your bank account and other similar sensitive locations as you might loose your laptop or have it stolen and then all your information would be “gifted” to the thief. Change the passwords periodically and have it containing both letters and numbers, which would be difficult to guess and crack.
Beware of the websites where you are doing online shopping; before you type in your card details, check carefully whether the page is totally secure. Also find out whether the site is legal and not a dummy meant to milk you of the information that would give the thief a green signal for funds embezzlement.
Do not give any personal information over phone, no matter what they say the consequences would be. Whoever they would be, the bank, your office, or anyone else who could be important to you do not give any information over the phone. It is a child’s play to impersonate someone over the phone today. Offer to give them the information in person, at their office instead.
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What Is An Identity Theft Notification Letter?
August 18th, 2008 Subscribe To Our Feed
There is some kinds of mail that most people do not mind getting and then there is the mail no one wants to get. If you get a notification in the mail that you just won the lottery then you are probably pretty happy. Then there is the kind of mail you get that on the surface is terrible news but then there is good news of some sort in there too. If you get a letter from a lawyers’ office telling you that a long lost uncle has passed then that makes you sad but if that uncle left you a sizable inheritance then that can help soften the blow a little. Getting an identity theft notification letter in the mail can fall into any of these categories although it is not likely to fall into the good news category very often. An identity theft notification letter is a letter you get when someone has either tried to steal your identity or they have been successful at stealing your identity and now there is problems. Usually it is your bank that sends an identity theft notification letter and it can have many different results.
For those of us that have received an identity theft notification letter in the past and have been fortunate enough to do business with a bank that has very proactive identity protection services in place it is a reassuring feeling. The first kind of identity theft notification letter you can get is from your bank telling you that they know of a vendor that has been compromised and your credit card number was one of the numbers stolen. A good bank, or credit union as in my case, will immediately cancel that credit card and shut down everything to do with your credit account. Then they will send you a letter telling you what is going on and issue a new credit card account. Like I said, it is very reassuring to know that your financial institution is on the ball like that.
Then There Is The Other Side
A friend of mine received an identity theft notification letter a few years ago but unfortunately this one was to notify him of some strange activity on his card. After reviewing his account he realized that someone had stolen his credit card number and in only a couple of days they had run up his card to thousands of dollars. By the time he or his bank had caught it the damage was done and he had spent many years getting his identity straightened out.
Getting an identity theft notification letter is a sobering moment and it is not until you read the letter that you realize how well you are protected. Here is hoping you never get an identity theft notification letter but if you do I hope your financial institution was able to protect you.
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Identity Theft Laws Only As Good As Enforcement Efforts
August 12th, 2008 Subscribe To Our Feed
In recent years tough new identity theft laws have been passed by the federal government and many states that make it a felony to use the social security number of another person to obtain credit or defraud the government. Of course, it has been illegal for several decades to to break into someone else’s home and steal their belongings and the new identity theft laws are having about as much of an impact as those laws.
Although there have some sort of identity theft laws on the books since people were dumpster diving to get credit card and bank account numbers, it has often been viewed as a white collar crime and little had been done in the way of enforcement. However, with thousands of people becoming the victim of identity theft, federal and state agencies are paying more attention to the theft of identity. Most of the efforts are being handled by cyber crime units since most identity theft issues have moved to the internet.
Gleaning information directly from victims is cleaner than digging through garbage cans and less risky than stealing from mailboxes and identity theft laws most often focus on the use of internet scams to obtain someone’s personal information. In addition to using someone else’s social security number the new identity theft laws also include penalties for mail fraud and bank fraud if any of the information is used in these areas as well.
Using Mail To Receive Fraudulent Cards In Illegal
The newer federal identity theft laws can charge someone who is issued a credit card based on the identity of another, if the card is sent to the violator through the mail. If they use another’s identity to get a job, there may also be violations of Internal Revenue Service laws requiring taxes to paid on earning. Often times someone does not know their identity has been used by another for employment until they receive a tax bill from the IRS.
While there are dedicated members of law enforcement working diligently on enforcing the identity theft laws, many people, especially victims of identity theft, do not believe enough is being done in the way of prevention and prosecution. Many of the identity theft laws are too new to show a history of convictions and the type of punishment issued, but to victims who have lost a great deal of time, money and their reputation will all agree the punishment does not fit the results of the crime.
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Identity Theft Help Is More Than A Phone Call Away
August 6th, 2008 Subscribe To Our Feed
Right after you get off the phone with an irritating debt collector over an unpaid credit card bill for a card you never applied for not ever had, your first though may be that you have been the victim of identity theft. Help can be available from many resources, but there are certain things that you will need to do to insure a timely resolution to the issue of your identity being used by another person to obtain the benefits of your credit report.
One of the first things a victim needs to do is contact the identity theft help department at the three major credit reporting agencies. Understand that their fraud departments are going to take the allegations with a grain of salt, but once you report it, you can have a fraud alert placed on your account for 90 days. There will be other identity theft help steps you need to take to extend that alert for as much as seven years, and once you get off the phone with the credit reporting agency, and have some supporting information about the theft of your identity, you need to contact the local police and report the theft.
You may also want to contact law enforcement in communities where accounts were opened in your name as well. If the police department refuses to file an identity theft report, you can file a report with the U.S. Postal Inspector if the mail was used in any way in the theft. While the Federal Trade Commission offers no investigative identity theft help, they need to know about the incident to help track the theft and the persons that may be involved on a national level.
Maintain Copies Of All Filed Theft Reports
When you file identity theft reports, make sure to get a printed copy and keep them on hand to show to businesses and other creditors that may have opened an account in your name. You can also get identity theft help from creditors by notifying them by phone and in writing that the new account is not yours. New laws prevent accounts opened without your knowledge from being reported to the credit bureaus.
You should also immediately cancel all current credit cards and have new account numbers issued for your accounts in the event the identity thief has managed to obtain that information as well. You should also seek identity theft help from your bank for checking and saving account information. New accounts will often have to be opened in order to stop the use of the old one.
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