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Avoiding ID Theft and Credit Fraud
Article excerpted from the new book, "How to Do Space Age Work with a Stone Age Brain" TM copyright 2004, all rights reserved, by Eve Abbott, the Organizer Extraordinaire Each year billions of dollars in credit fraud is perpetrated on unsuspecting citizens. With so much personal information publicly available (or easily available to someone with medium computing skills) it is essential to develop good habits to prevent your information from falling into criminal hands. It is possible for someone to create an entire identity (get driver's license, etc.) based on just a few pieces of information. I know of an employee who sustained an on-the-job injury then applied for disability. He was shocked when they turned him down. According to Workmen's Compensation records he had been collecting disability for the last year and a half. Someone had gotten their hands on enough information to drain his account! It can take years and thousands of dollars to correct an identity theft, credit fraud or a simple key entry error by a clerk at a Credit Bureau. It takes minutes for you to do these simple tips: Destroy all pre-approved credit offers you get in the mail before you discard them. Otherwise, someone can fill out a new address and get credit in your name. Use a paper-shredder for all documents with your financial or legal information included. Sign all your credit cards with 'Please ask for photo ID' instead of your signature. Never give out your SSN or credit card information on the phone unless you initiate the call and you know to whom you are talking. Never carry your social security number in your wallet. You don't have to give your SSN to businesses that request it, although they do have the right to refuse service. Only government agency, and employment or tax related inquiries must be answered. Reduce the number of pre-approved offers you get by requesting these credit bureaus remove your name from their lists: TRW (800) 353-0809, Equifax (800) 219-1251 and TransUnion (800) 241-2858. Once a year carefully check out your free credit report from Experian (800) 682-7654 and free Social Security file (800) 772-1213. If you are denied credit based on your report, the issuing credit bureau must provide you with a free copy upon request - even if they usually charge for it. If you don't have a 'business of having a life' filing system, check out the cost-effective Home and Small Business File Kits that I use in my own business, which makes it easy for me to guarantee your satisfaction. (www.organize.com) Do not give out confidential information on e-mail or do financial transactions on the Internet unless it's secure and encoded. (Look for the SSL reference) Check guarantee and check verification agencies must provide the same protection as credit bureaus, such as access to your report and correction of errors. If your check is refused, get the agency name. For assistance in re-establishing good credit and correcting errors, the non-profit Consumer Credit Counseling Service may be able to help you. To find the office nearest you call(800) 388-2227. More free time-saving tips are available at http://www.organize.com For over 15 years, Eve Abbott has been writing, speaking and consulting with executives, managers and business owners on boosting their effectiveness with organizing tools and techniques to melt the paper blizzard and tackle e-mail overload. Eve is the Organizer Extraordinaire, a personal productivity expert whose wisdom has reached the pages of the New York Times, Working Woman and Home Office Computing. MORE RESOURCES:
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GOOGLE SEARCH Credit Report Secrets: Do You Know What They Reveal? If you've ever applied for a credit card or loan, you've probably hadyour credit report reviewed by the lender. Your credit report has a huge impact on your financial future, so it's well worth your time to be sure that you understand what your credit report says about you. Credit Cards - A Blessing or a Curse? Owning a credit card can be quite an advantage. Whethermaking online purchases, booking an air ticket or a hotelroom on the phone or simply being in need of someemergency cash, having a credit card can be a big help. Preventing Credit Card Mess Credit card debts problem is extremely common today. It is usually the first sign of longer term financial troubles. 5 Things Your Credit Card Company Keeps Quiet About Credit Cards can bankrupt you if you let them run away from you. The various Credit Cards companies are in it for profit so they will not generally alert you to things you can do to save yourself money. Convenience Can Be Costly You've just opened your credit card bill and attached to your statement you find a "convenience check" included. It may already be filled out with a dollar amount such as $300, $500, or even $1,000. Cash Back vs. Rewards Credit Cards Ah, the sweet rewards of using credit!Not only do you get immediate gratification with the buy now-pay later plastic, but now, many credit cards offer rewards and incentives for using their card to make purchases. You can get cash back, or gift cards, or 'reward points' that you can spend on merchandise or services from various merchants. Understanding the Process of Credit Counseling Many of us have seen the advertisements on television. "Get out of debt fast!" "We can solve all your credit problems with only one call!" These sound really great but you know that, realistically, one call is not going to solve your credit problems. Tackling Bad Credit The first time I heard the term credit history was when I approached a lender for a secured loan. Being a first timer I was completely ignorant of the procedure and didn't even know that a credit record of our transactions is prepared by some credit reference agencies. Good vs. Bad Credit Debt Do you know the difference between good and bad credit debt? Most everyone seems to think that all debt is bad, but that is not always the case. In fact, there are some instances where good debt can actually help your financial situation. Free Credit Reports: From The 3 Major Credit Bureaus! Get your credit report online for FREE. Many financial advisors suggest that you periodically review your credit report for inaccuracies or omissions. The Credit Card Surprise That You Need to Look Out For Companies that issue credit cards want to make a profit. No one disagrees with that. Tips for Choosing a Credit Card Company Credit Cards are essential for any consumer today. However, when choosing a new credit card company, many people do not know what to look for. Credit Report And Correction Techniques The three major credit bureaus, Experian, Equifax and Trans Union are similar and feature a "Credit Score", which is created from credit report data submitted to them about you. Their report includes where you live, your bill-paying habits, and bankruptcy and arrest information. Make Sure Your Credit Report Is Correct to Improve Your Interest Rates And Lower Insurance Premiums Did you know that you could make sure to get the best rates on your auto and homeowners insurance simply by having a good credit score.Additionally a great credit score will allow you to get the best interest rates on your credit cards, car loans and even your home mortgage. How to Dispute Credit Report Errors Your credit report--a type of consumer report--contains information about where you work and live and how you pay your bills. It also may show whether you've been sued or arrested or have filed for bankruptcy. Choosing The Credit Card That Is Right For You Credit cards represent an important part of our financial lives. Having the right credit cards is essential and will make a big difference to your finances. Have You Ever Opened a Checking Account? Maybe some of you are saving it in your trusty piggy bank, under your mattress or way back in a sock drawer. Although I'm glad that you are saving, your money is not doing anything for you locked up in your house. Are you paying higher interest on your credit cards than you think? Many credit card holders sign up for a credit account with an 8.9% interest rate and then later realize that their interest rate has been bumped to 27. Free Credit Report - Really 2005 marks the year that consumers will be able to get a free credit report each year. The roll out of the Fair and Accurate Credit Transaction Act signed into law by President Bush actually began last December 1. 19,178 Identity Theft Victims Per Day - Are You One Of Them? Identity theft statistics are shocking. And we are told that it will only become worse, before it gets any better. |
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