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Identity theft is one of the fastest growing crimes in America. It can impact the rich, the poor, the old, the young, and anyone else. You might think of Identity Theft as an internet or online crime, but the fact is, having your identity stolen offline is far more common than online ID theft.    It doesn't matter where you come from, how careful you are, or how good/bad your credit is, you are at risk for ID theft. Most crime happens to individuals who feel they are immune from identity theft.

 Two Primary Forms of Identity Theft. When it comes to identity theft, it is important that you understand the different types:

 Fraud - Fraud is a type of theft in which someone uses your personal information to open bank accounts, or apply for or cosign for credit cards.

 ID Theft - The crime of identity theft occurs when someone impersonates you by using your personal information to gain valid drivers licenses, passports, and other forms of ID. They use this new ID to apply for jobs, start utility services, and to steal your government benefits such as social security. The person can apply for home loans, declare bankruptcy, and event commit crime using your name.

Steps To Take If You Think Your Identity Has Been Compromised.

click on each of the bolded links below for more information.   

Step 1: Detection - Click on the link for more information on Detection

There are many you can verify your Identity has been stolen, but the fastest and easiest is to frequently check your credit report.  Below are links to the individual credit agencies:  

 Experian  

TransUnion  

Equifax

Better still would be to join a credit monitoring service. Many people have heard of freecreditreport.com, but I actually do not recommend them. I used their service for 2 years, and while the monitoring service was good, their FICO (credit rating) scores were WAY off. When I applied for my mortgage, their scores differed by almost 90 pts.

The most accurate FICO scores and best credit monitoring that I have found is MyFico. I found a coupon that saves you 25% on their monitoring service:
 

Step 2 - Report Identity Theft Immediately- Click on the link to the left for more information on how to report identity theft properly

According to the Federal Trade Commission, the biggest problem they have in stamping out identity theft is that very few people report identity theft properly. You must contact your city or state police, all three credit bureaus

Step 3 - Restoration - Click on the link to the left for more information on restoring your identity and credit

Once a thief has stolen your identity, they can begin damaging your name and credit. The can apply for car loans, mortgages, and credit cards. Worse yet, the could even commit a crime which will be added to your criminal record. The most common thing identity thieves do is make unauthorized purchases with your credit. This leaves you with unpaid balances, late fees, and other credit issues. If you have ever tried to repair your credit, you know how much time and effort it takes to fix the damage caused by late payments and the resulting collections.

 Notes about restoration:

 Cost - I wish there was a better place to start, but the fact is that restoring your credit and name after having your identity stolen costs money. In fact, the cost of restoration typically ranges from $5000 - $7500, and can be far more.  

 Time - Depending on the degree of theft, recovering your name and rights can take years. In the mean time, you may have difficult securing a job, buying a car or home, or obtaining credit. Typically, the restoration process takes anywhere from 3 to 7 years.

Preventing Identity Theft

 Here are some steps you can take to protect your identity

• Shred and recycle all documents that contain any of the following:
  • name
  • address
  • phone number
  • income
  • social security number
  • account numbers
  • all other personal information
• Do no leave mail anywhere where someone can grab it.
• If your mailbox doesn't lock, do no leave your mail in your mailbox overnight.
  • If you are leaving town, have your neighbor get your mail, or go to the post office and have them hold your mail until you return
• Keep copies of your important documents including your drivers license, credit card numbers, and phone numbers for creditors so you can call them immediately in the event you lose your purse or wallet.
• If you loose any peronal information, immediately contact the credit bureaus and social security administration to put a fraud alert on your account.
• Report questionable letters and phone calls to the FTC. There is a complaint form available on http://www.ftc.gov
• Never click on any link in an email requesting you to verify account information
• Do not repsond to or click on any employment offer that you didn't not apply for, or any job that is located in a foreign country. 

I highly recommend the use of a credit monitoring service, or better yet, an identity theft protection program. LifeLock is the industry leader in proactive identity theft protection, offers a proven solution that prevents your identity from being stolen before it happens. They'll protect your identity and personal information for only $10 a month - and guarantee their service up to $1,000,000. We also offer the only identity theft child protection program available in the market, so guarantee your good name today and enroll now.

 A special note about electronic pin numbers and passwords:

Passwords to your online banking, credit card, mortgage, and other website accounts need to be secure. I highly recommend using a secure password generator such as the one provided free by pctools. You should use a different password for each of your accounts, making it more difficult for identity thieves to steal your information. Also, update your password at least twice per year. Managing your passwords can be a pain. I recommend using the Microsoft Fingerprint Reader and password manager. This nifty little device and software allow you to securely store password information for all of your accounts. Then, when you go to login to your account, you just put your finger on the print reader and it enters the proper password. Here's a link to the finger print reader: Microsoft Fingerprint Reader

 Preventing Fraud

 Here are some steps to take to protect your self from fraud:

• Never give away your personal information such as your full name, address, account number, birth date, or social security number to ANY unknown person.
• If someone call from your “bank” and asks you to verify your personal information, get their name and number, then call your local bank branch and ask if that person works for your bank. Find out if they really need any information from you.
• Report any scam you recognize to the FTC
• Ignore anyone who offers you a loan or claims you own a prize and then request you pay a fee or give them your credit information as a confirmation of your prize or winnings.
• Never accept a check from a foreign national in exchange for a part of the money being received. If they offer you a percentage of the transfer, this is definitely a scam
• Always ask for a name and contact information from anyone whom you suspect of illicity activity. 

Conclusion

I hope you find the information in this guide valuable. If you have any questions about identity theft, please feel free to email me. My contact information is below.  

Warm Regards,
Steve Warshaw
steve@topinternetguides.com

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