What's In A Name: The Budget Doctor's Advice on Identity Theft
Author: Mike Sullivan, Ph.D.
Article:
There are two types of people in America; those who have had their identities stolen and those who will have their identities stolen. Stealing an identity is so easy and so safe that we worry that thieves will forget how to steal the old fashioned way. Why use a gun when you get more from a crumpled receipt and have no armed robbery sentence?
Most of us hear about identity theft and assume that it refers to someone getting a credit card in your name and enjoying a Vegas vacation before you find out. This is the most common use, but some thieves want a new identity for a new driver's license or insurance policy. Waking up to a bad credit report is one thing; waking up to a criminal record or bad driving record is even worse. Certainly you want to do whatever you can to prevent identity theft. Here are a few basic rules:
1.Treasure Your Social Security Number Yes, you have to use it at banks, insurance companies, hospitals and even Take Charge America, but DO NOT give it out when buying a gift card or joining a video store. Simply refuse and go somewhere else. And never carry the number with you.
2.Use Your Initials Instead of Your Name R.U. Stillhere could be Rufus or Rita. Put initials only on your checks and similar documents including your phone listing. And don't print your phone number on checks.
3.Don't Give Personal Information Over the Phone or Internet Unless You Initiated Contact If your bank calls for information, tell them you will come down in person. If your insurance company needs personal information, offer to mail it to the address on your policy. If you get an email requesting information, delete it. No reputable agency will ask you to respond to an email.
And what should you do when you think your identity has been stolen?
1.Call All Three Credit Bureaus Transunion (800-680-7289), Equifax (800-525-6285) and Experian (888-397-3742) are the places. Ask each for a copy of your credit report in addition to having an alert placed on your report.
2.Call Your Local Police Department and File a Report They probably won't care but you will need that report later to prove you filed a complaint.
3.Go To the Federal Trade Commission's Web Site and Complete an Affidavit Go to www.ftc.gov.
After these, you might want to notify the Social Security Administration, your State motor vehicle administration, all your creditors, your employer and your bank You will have to notify pretty much everybody in the world before you are done, but these steps are for day one. Luckily, this is so common that everyone you talk to will know how to handle it. And you will likely get through it with minimal damage to your credit and your reputation if you act quickly. Just be glad you're not rich and famous--everyone is after those identities!
About the author: Michael Sullivan, PhD. Sullivan is the Director of Education at Take Charge America, a not-for-profit credit counseling company. Sullivan has spent over 35 years in education, the last two of them focused on financial education. He writes a monthly article on personal finance issues and is a frequent speaker on the topic. None link
