Identity Theft and How to Prevent Them

Identity theft is very common nowadays, in fact, 10 million Americans fall victim to identity theft each year, yet so many people are still unaware of that fact or they simply just don’t care.

Identity theft is a type of crime in which people take your personal information and steal that information to pose as you in order to get access to your accounts or identity.

A lot of people who are careful about paying bills on time and having minimal debts are shocked each year to find that they have low credit scores. In many cases, this happens as a result of identity theft.

For example, someone with your PIN numbers can remove small amounts of money from your bank account each month or someone can use your name and personal information to get credit cards in your name and use those credit cards with no intention of paying back the money. You are stuck with the large debts and the poor credit score.

How To prevent identity theft.

• Always check your account statements carefully each month and immediately report any charges or activities you don’t recognize.

• Check your credit report regularly and immediately investigate any new credit accounts you do not recognize - this is the best way of detecting and acting on identity theft.

If in case you fall victim to identity theft, report to the police at once and get a police statement. Send copies of this to your bank, credit card providers and credit bureaus. Better yet, get the credit bureaus to attach the report to your credit report, if you can. Close all your accounts and reopen new ones. You should not have to pay for someone else’s illegal activity.

In most cases, people begin to care and start being wise after they become a victim of identity theft. Which is sad because the damage has been done, they’re already left with a huge amount of debt and a low credit score. Repairing them takes time, and I’m sure nobody wants to be a part of that 10 million.

So act now while your credit score is still in good shape. As the doctor says, prevention is better than cure.

Identity Theft and How to Prevent Them