(14 ratings)
"I got my credit report in the mail yesterday, and I can't even tell you how freaked out I am. There are fourteen accounts listed that I never opened, including a Sears card that shouldn't exist. My wife said that she received a collection call on that card just the other week, but thought it was just a mistake since we don't actually have a Sears card!"
We would all like to think that we are in control of our lives. As I was about to have to tell my friend, that isn't always the case. The slew of clean-up work he had ahead of him may or may not have had anything to do with his own actions. Part of your identity theft prevention plan should be a concerted effort at always keeping abreast of your credit report.
Of course, your credit report can also be negatively effected by inaccurate reporting. Current studies show that approximately one in four credit reports contain inaccurate and damaging data. Whether it is because of identity theft or error, this can still cause you to pay higher interest rates and insurance premiums, face a denial or loss of credit, and miss out on employment and rental opportunities.
Once stolen, your identity can be sold multiple times to multiple buyers. Local, state and federal entities, private businesses, and universities all have large databases that are hot commodities among thieves. Once a hacker has gained access to one of these databases filled with personal information, they are metaphorically stealing people's lives. Here's something scary to think about: they can sell your identity to as many people as will buy it as many times as they can. In only a few moments, your identity might be spread out to crooks all over the world.
As an adult, even if you are not checking your credit reports, it won't be long until you run into enough trouble to figure out what's happened. When a child's identity is stolen to gain credit or employment that Social Security Number can be bought, sold and used for as long as it goes undetected- this can go on for well over a decade! By the time the child comes of age or first gets involved in finances, they might find that they have years and years of identity reclamation ahead of them.
The lessons to be learned: do not rely on others to safeguard your information!" Always be proactive in protecting your identity. This is much easier and even more enjoyable than trying to be reactive once your identity has been stolen.
Here are a couple of resources for identity theft protection:
Annualcreditreport.com: This is the only legitimate place to get your free, annual credit report. You can also call toll-free 877-322-8228.
www.attrition.org/dataloss: This database includes a running list of reported data breaches. This page is frequently updated.
National Do Not Call Registry: Call (888) 382-1222 or visit online at www.donotcall.gov to reduce telemarketing.
888) 5-OPT-OUT / (888) 567-8688 or opt out online at www.optoutprescreen.com to opt of pre-approved credit card offers.
20 Random Tutorials from the same category :
Is Consolidation the Answer to Your Debt Problems?
Simple Tips For People In Debt
Which Of My Debts Should I Clear First?
What You Should Know About Getting Debt Help
You Can Get Help With Your Debt
The Benefits of a Credit Card Balance Transfer
How Debt Consolidation Can Go Wrong
The Importance of Protection Against Identity Theft
Debt Consolidation Programs: A Dream or a Nightmare?