Prevent Identity Theft
Over 86,000 identities are reported stolen each year.
It takes on average 18 months before someone figures out that their identity has been stolen.
It costs up to $10,000 to fix the damage caused when this occurs. You are responsible for clearing things up with creditors and the credit bureaus, not the police.
To protect yourself :
Do not put credit applications or documents with social security numbers into the garbage without shredding them.
Do not put outgoing mail into your mailbox.
Check your credit 1-2 times per year or sign up for credit monitoring.
If you Become a Victim of Indentity Theft
It is up to you to notify all three credit bureaus. They will put a fraud alert on your credit file, so that no more credit accounts can be opened.
You will need to notify the creditors and sign affidavits that you did not open the accounts.
Notify the Social Security Administration.
At least California has enacted laws to help identity theft and fraud victims. Check with your local police where you live for possible ways they can assist. Most cannot help with identity theft.
| Quick Credit FAQ |
| Up to 60% of people who check their free credit report find errors. |
| Credit Professionals recommend a credit check at least 2x yearly. |
| You may obtain a free credit check if you've been denied credit in the last 60 days or once annually. |
| There are 3 credit bureaus which collect information from major creditors. Equifax, TransUnion, Experian. |
| Your credit report lists all the accounts and payment history for the last two years; liens and judgements for 7 years; bankruptcy 10 years. |
| From your information a credit score is calculated. Credit Scores range from about 400-820. A score of 700 or above is very good. |
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