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Id theft. We've all heard horror stories about fraud that's committed in stealing a name, address, Social Security number, credit cards, etc. Here are some things that you can do about it.
Practical steps to prevent ID theft
Photocopy
First, Place the contents of your wallet
on a photocopy machine and copy both sides of each license, credit card, etc.
You will then know what you had in your wallet and all of the account numbers
and phone numbers to call and cancel. Keep the photocopy in a safe place. Do
this at least annually, and especially before traveling on vacations.
Don't carry your Social Security Card in your wallet, or leave it in an unsecured place in your home. DO NOT PRINT YOUR SSN ON YOUR CHECKS, there is no need to and printing it gives it to everyone. Change your Drivers License number if it uses your SSN, most states allow this now, even if they didn't in the past. Avoid using SSN as an ID#, this is sometimes difficult (places like your Health Insurance almost insist), but it is worth the effort.
Order your credit report from one of the three reporting agencies at least annually, better still every six months. Check for inactive accounts that should be closed (these are ripe for fraud and can lower your credit score). Review closely for suspicious activity. If something doesn't look correct, spend the time to check it out, and order your credit report from all three agencies.
Buy a cross-cut type shredder (you can purchase cross-cut type shredder very cost effectively). Shred all your important papers to be desposed of and especially pre-approved credit applications received in your name and other financial information that provides access to your private information. Don't forget to shred your credit card receipts. Don't have or want a shredder, tear up the above items beyond recognition. Not in half, beyond recognition.
Use only your first initial and work number on the "styled" information printed on the check. Consider having new boxes of checks delivered to the bank.
Put bills into a USPS drop box, not your mailbox at your house as bills have critical information a fraudster could use to become "you".
First file a police report immediately in the jurisdiction where it was stolen, this proves to credit providers you were diligent, and is a first step toward an investigation. Most cities have an ID theft task force, ask for it. Most ID theft task forces are swamped as this is one of the fastest growing crimes, don't expect for the fraudster to be caught, your goal should be to stop the fraudster and repair your credit.
Call the three national credit reporting organizations immediately to place a fraud alert on your name and Social Security number. The alert means any company that checks your credit knows your information was stolen and they have to contact you by phone to authorize new credit.
Equifax: 1-800-525-6285 www.equifax.com
Experian (formerly TRW): 1-888-397-3742 www.experian.com
Trans Union: 1-800-680-7289 www.transunion.com
Social Security Administration (fraud line): 1-800-269-0271
Make your major creditors (like your mortgage company) aware your ID was stolen, as they monitor your credit status, and sometimes a low credit score can put you in technical default on a loan. If this happens to you, contact an attorney experienced with ID theft quickly, this is serious, and time is of the essence. If you do not, you could possibly lose your home or car.
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