CreditPro is a new blog featuring advice from an employee of a non-profit credit repair agency. The site has only been around a week but already has several great articles:
- The top 7 credit score secrets
- Avoiding payday loans
- Improving your credit after a bankruptcy
- 8 things you must do if your identity is stolen
I particularly like the article on identity theft. What should you do if your identity is stolen? CreditPro suggests:
- Call one of the three major credit reporting agencies to place a fraud alert on your credit report. (A commenter at CreditPro advises to contact all of the reporting agencies.)
- If the thieves opened new accounts, contact each creditor to report the fraudulent activity.
- Contact any existing accounts that may have been compromised to report that your identity has been stolen.
- Contact the police.
- File a complaint with the FTC.
- Change your online passwords.
- You may have to get a new driver’s license.
- Keep detailed records of your interactions with various companies and agencies.
The comments on this article are interesting, especially this one from Aaron, who had his identity stolen four years ago and has been through hell because of it:
DON’T BELIEVE THIS STUFF. Yes, it’s good to do, No it WILL NOT protect you. ID Theft is an epidemic and EVERYONE wants to pass the buck. My life has changed FOREVER because of this, and the police, banks, credit agencies and credit companies WILL NOT HELP YOU nor will they be compassionate at all. My 10+ years of FLAWLESS credit history means NOTHING to any of these people, and they all apologize and sympathize, but can and will do NOTHING.
Other comments offer tips for preventing identity theft in the first place.
CreditPro fascinates me because it’s written by somebody inside the industry, somebody who sees how these problems affect people in everyday life. I’ve added it to my feedreader and plan to link to other excellent posts in the future.
[CreditPro: 8 things you must do if your identity is stolen]
This article is about Basics
SEARCH FOR RECENT ARTICLES
The best thing to have is a good Offense. If you have something like below UPFRONT you won’t be losing time, money and your mind attempting to do all of this suggested stuff yourself in the 1st place.
*Which will be during 9-5 when you’re supposed to be earning income to pay for the mess* **Never mind not mentioned in the article is employment Identity theft or Medical identity Theft or Character Identity Theft**
Your offense is to have a service that will
1. tell you when your identity get’s stolen.
2. Fix all of the problems for you because you can’t.
3. Have access to legal counsel.
This IS a shameless plug however it’s a fact that you’ll need all 3 and you get them from this 35 yr old NYSE company. http://www.prepaidlegal.com/idt/teegarden
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Aaron’s point is valid, and that is that one needs to be proactive. I good (free) way to start is to use the three free credit reports you get each year, and monitor your credit. Hopefully that would be able to help you stop things before they get too serious.
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The problem with getting your credit report a few times a year is that thieves can trash your credit and more in 2 days much less the two months or more that would guy by from you monitoring your credit.
We live in a new age. The information age. The great thing is it’s so accessable. The scary thing is it’s so accessable. Especially bad when it’s YOUR information that’s accessable.
Attempting to monitor your own credit is very 1980′s i’m sorry to say. But worse yet let’s say you do monitory it and you find out your a victim. THEN WHAT? That’s like figuring out your car broke down and now YOU have to fix it. I personaly don’t have that kind of time energy or know how to deal with it myself.
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Send this list to Jim at BFP. I think he fell a victim.
http://www.bargaineering.com/articles/two-negative-items-on-my-credit-report.html
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Other ways to prevent theft are:
Simple ways to protect yourself
1. Destroy private records and statements. Tear up — or, if you prefer, shred — credit card statements, solicitations and other documents that contain private financial information. I prefer a cross-cut shredder (www.fellowes.com) that can shred credit cards and computer CD’s. Fellowes Powershred SB-85C fits the bill for an office willing to pay $399. Smaller personal ones for $39 are available, that can handle credit cards and a few sheets of paper at a time.
2. Secure your mail. Empty your mailbox quickly, lock it or get a P.O. box so criminals don’t have a chance to snatch credit card pitches. Never mail outgoing bill payments and checks from home. They can be stolen from your mailbox and the payee’s name erased with solvents. Mail them from the post office or another secure location.
3. Safeguard your Social Security number. Never carry your card with you, or any other card that may have your number, like a health insurance card. And don’t put your number on your checks. It’s the primary target for identity thieves because it gives them access to your credit report and bank accounts. (For more on protecting your Social Security number, see “Safeguard your Social Security number.”)
4. Don’t leave a paper trail. Never leave ATM, credit card or gas station receipts behind. Be careful at ATM’s and using Phone Cards. “Shoulder Surfers” can get your “Pin Number” and get access to your accounts.
5. Never let your credit card out of your sight. Worried about credit card skimming? Always keep an eye on your card or, when that’s not possible, pay with cash.
6. Know who you’re dealing with. Whenever anyone contacts you asking for private identity or financial information, make no response other than to find out who they are, what company they represent and the reason for the call. If you think the request is legitimate, contact the company yourself and confirm what you were told before revealing any of your personal data.
7. Take your name off marketers’ hit lists. In addition to the national Do-Not-Call registry (1-888-382-1222), you can also cut down on junk mail and opt out of credit card solicitations.
8. Be more defensive with personal information. Ask salespeople and others if information such as a Social Security or driver’s license number is absolutely necessary. Ask anyone who does require your Social Security number — for instance, your insurance company — what their privacy policy is and whether you can arrange for the organization not to share your information with anyone else.
9. Monitor your credit report. Obtain and thoroughly review your credit report (now available for free at Annualcreditreport.com or by calling 877-322-8228) at least once a year to look for suspicious activity. If you spot something, alert your card company or the creditor immediately. You may also want to subscribe to a credit protection service, like Experian’s CreditCheck, which alerts you any time a change takes place with your credit report.
10. Review your credit card statements carefully. Make sure you recognize the merchants, locations and purchases listed before paying the bill. If you don’t need or use department-store or bank-issued credit cards, consider closing the accounts.
11. Sign checks with a Uniball-207 (www.uniball-na.com) so that check-washers cannot remove your check information and write one (signed by you) to themselves. Check washing is a process where checks are stolen from the mail or by other means and the ink is erased using common household products. The thieves will then rewrite the check payable to themselves, in the amount of their choosing. This uni-ball gel pen uses inks that contain color pigments, which are absorbed into a check’s paper fibers. When an individual tries to “wash” the information written on the check, the ink is in effect trapped.
12. If possible, sign up for direct deposit. Checks delivered to your home address allows mailbox thieves to steal your checks and the personal information on the check stubs.
13. Make a list of all your credit card account numbers and bank account numbers (or photocopy) with customer service phone numbers, and keep it in a safe place. (Do not keep it on the hard drive of your computer if you are connected to the Internet.)
14. Do not put checks in the mail from your home mailbox. Drop them off at a U.S. Mailbox or the U.S. Post Office. Mail theft is common. It’s easy to change the name of the recipient on the check with an acid wash.
15. When you order new credit cards in the mail, or your previous ones have expired, watch the calendar to make sure that you get the card within the appropriate time. If it is not received by a certain date, call the credit card grantor immediately and find out if the card was sent. Find out if a change of address was filed if you don’t receive the card or a billing statement.
16. Cancel all credit cards that you do not use or have not used in 6 months. Thieves use these very easily – open credit is a prime target.
17. Put passwords on all your accounts and do not use your mother’s maiden name. Make up a fictitious word. The best passwords have a number, sign and letters, i.e. 15tuck!we@
18. Get a post office box or a locked mailbox, if your mail box is unsecured.
19. Ask all financial institutions, doctors’ offices, etc., what they do with your private information and make sure that they shred it and protect your information. Tell them why.
20. Empty your wallet of all extra credit cards and social security numbers, etc. Do not carry any identifiers you do not need. Don’t carry your birth certificate, social security card, or passport, unless necessary.
21. Memorize social security numbers and passwords.
22. When a person calls you at home or at work, and you do not know this person, never give out any of your personal information. If they tell you they are a credit grantor of yours call them back at the number that you know is the true number, and ask for that party to discuss personal information. Provide only information that you believe is absolutely necessary.
23. Do not put your social security number on your checks or your credit receipts. If a business requests your social security number, give them an alternate number and tell them why. They do not need that to identify you. If a government agency requests your social security number, there must be a privacy notice accompanying the request.
24. Do not put your telephone number on your checks.
25. Get credit cards and business cards with your picture on them.
26. Do not put your credit card account number on the Internet (unless it is encrypted on a secured site.) Don’t put account numbers on the outside of envelopes, or on your checks.
27. When you are asked to identify yourself at schools, employers, or any other kind of institutional identification, ask to have an alternative to your social security number. Unfortunately, your health insurance carrier often uses your social security number as your identification number. Try to change that if you can.
28. In conjunction with a credit card sale do not put your address, telephone number, or driver’s license number on the statement.
29. Monitor all your bank statements from every credit card every month. Check to see if there is anything that you do not recognize and call the credit grantor to verify that it is truly yours.
30. Order your credit report at least twice a year (I have enclosed the addresses for you on the sample letter.) Review it carefully. If you see anything that appears fraudulent, immediately put a fraud alert on your reports by calling the numbers below.
31. Immediately correct all mistakes on your credit reports in writing. Send those letters Return Receipt Requested, and identify the problems item by item with a copy of the credit report back to the credit reporting agency. You should hear from them within 30 days.
32. Take your name off all promotional lists. Call the three credit reporting agency numbers to opt out of pre-approved offers.
Experian: (888) 567-8688
Equifax: (888) 567-8688
TransUnion: (888) 567-8688
Write to the following to get off promotional lists:
Direct Marketing Association
Mail Preference Service
P. O. Box 9008
Farmingdale, NY 11735
Direct Marketing Association
Telephone Preference Service
P. O. Box 9014
Farmingdale, NY 11735
Removal from product lists:
National Demographics and Lifestyles Company
List Order Department
1621 18th St, Suite 300, Denver, CO 80202.
33. Write to your State and Federal Legislators to demand stronger privacy protection. Also, ask that identity theft be considered a crime in your State. Demand that the State Finance and Banking Committees pass legislation to protect consumers from negligent bank and credit reporting practices.
34. Consider making your phone an unlisted number or just use an initial.
35. Make a list of all your credit card account numbers and bank account numbers (or photocopy) with customer service phone numbers, and keep it in a safe place. (Do not keep it on the hard drive of your computer if you are connected to the Internet.)
If something goes wrong…
-First, contact the fraud departments of each of the three major credit bureaus. Tell them that you’re an identity theft victim. Request that a “fraud alert” be placed in your file, along with a victim’s statement asking that creditors call you before opening any new accounts or changing your existing accounts.
-Contact Equifax, To report fraud: 1-800-525-6285
and write: P.O. Box 740241, Atlanta, GA 30374-0241
-Contact Experian, To report fraud: 1-888-EXPERIAN (397-3742)
and write: P.O. Box 9532, Allen, TX 75013
-Contact TransUnion, To report fraud: 1-800-680-7289
and write: Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92634
-Contact the creditors for any accounts that have been tampered with or opened fraudulently. Speak with someone in the security or fraud department of each creditor, and follow up with a letter.
-File a report with your local police or the police in the community where the identity theft took place. Get a copy of the police report in case the bank, credit-card company or others need proof of the crime.
-Keep records of everything involved in your efforts to clear up fraud, including copies of written correspondence and records of telephone calls.
For More Information, Other Resources on the Internet:
http://www.identitytheft.org
http://www.consumer.gov/idtheft
http://www.identitytheftinfo.com
http://www.identityrehab.com
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[...] J.D., though not an official contributor, nonetheless posts on what to do if your identity is stolen. [...]
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[...] What to Do If Your Identity is Stolen How to deal with a potential financial disaster. [...]
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One additional tool not mentioned in the CreditPro post is a security freeze. Consider placing a security freeze on your consumer credit reporting files to make it hard for thieves and scammers to use your information to open new accounts, like new credit cards in your name. If you are an identity theft victim, the cost to place one on your files is usually free.
A security freeze is a powerful identity theft prevention tool for individuals. It enables consumers to take a step that will stop the opening of false new accounts which require a credit check unless the consumer has expressly authorized a potential creditor to check the consumer’s credit report or credit score. Without a credit report or credit score a business usually will not open a new account. As of today, 34 states and the District of Columbia have enacted security freeze laws. Check Consumer Union’s list to see if your state is one of them and on how to place a security freeze.
http://www.consumersunion.org/campaigns/financialprivacynow/2006/09/freeze_identity_thieves_out_of_1.html
Amy
http://www.financialprivacynow.org
A Project of Consumers Union
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[...] stolen mail. Ironically, one of the top results was a Get Rich Slowly article from last February: “What To Do If Your Identity is Stolen”. After re-reading that post (and the comments that follow), I plan [...]
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