We misplace things all the time. From the television remote to our car keys, things are constantly being moved and temporarily forgotten. When you make a mistake like this, the worst case scenario is usually a few minutes of frustration. When you accidentally leave your wallet on the table in a favorite restaurant or it slips from your pocket unnoticed, however, the situation can be dire. Identity theft is rampant in today’s world, and a lost wallet can provide everything a thief needs to turn your excellent credit into bad credit. (more…)

A fraud alert is something that the major credit bureaus attach to your credit report. When you, or someone else, tries to open up a credit account by getting a new credit card, car loan, cell phone, etc., the lender should contact you by phone to verify that you really want to open a new account. If you aren’t reachable by phone, the credit account shouldn’t be opened. (more…)

It’s difficult to predict how long the effects of identity theft may linger. That’s because it depends on many factors, including:

• the type of theft
• whether the thief sold or passed your information on to other thieves
• whether the thief is caught, and
• problems related to correcting your credit report.

Victims of identity theft should monitor financial records for several months after they discover the crime. Victims should review their credit reports once every 3 months in the first year of the theft, and once a year thereafter. Stay alert for other signs of identity theft. (more…)

Filing a police report, checking your credit reports, notifying creditors, and disputing any unauthorized transactions are some of the steps you must take immediately to restore your good name. To learn more about these steps and more, visit the DEFEND: Recover from Identity Theft section. To file a complaint, click here. (more…)

The best way to find out is to monitor your accounts and bank statements each month, and check your credit report on a regular basis. If you check your credit report regularly, you may be able to limit the damage caused by identity theft. For more information, visit the Detect Identity Theft section. (more…)

Once they have your personal information, identity thieves use it in a variety of ways.

Credit card fraud

• They may open new credit card accounts in your name. When they use the cards and don’t pay the bills, the delinquent accounts appear on your credit report.
• They may change the billing address on your credit card so that you no longer receive bills, and then run up charges on your account. Because your bills are now sent to a different address, it may be some time before you realize there’s a problem. (more…)

How do thieves steal an identity?

Identity theft starts with the misuse of your personally identifying information such as your name and Social Security number, credit card numbers, or other financial account information. For identity thieves, this information is as good as gold.
Skilled identity thieves may use a variety of methods to get hold of your information, including: (more…)