Listen to and watch these Identity Theft horror stories...
When someone becomes YOU by stealing your identifying information – particularly your Social Security Number – financially, they can do anything YOU can do.
In 2006, there were 246,035 reported ID thefts. Credit-card fraud represented 25% of ID misuse. Other misuse included:
If you’re already an ID theft victim, this FTC website...
provides detailed information on recovering your identity. As with most disasters, prevention is a lot simpler than the cure.
Here are some steps to take to reduce your odds of becoming an ID theft victim:
1. Secure Your SSN
It belongs in two places… in your head and in a safe. Never give it out unless you are sure of the recipient and why it’s needed.
2. Go Electronic
Receive your financial statements by email to thwart dumpster-divers.
3. Crosscut Shred
Unsolicited credit applications arrive by mail daily. Shred them. Do the same to statements you can’t or don't want to receive electronically.
4. Close Zero-Balance Credit Accounts
In addition to creating new credit accounts, credit card fraud includes changing the statement address of exisiting credit card accounts and then running up the accounts. The true owner never receives a statement.
5. Always Review Account Statements for Irregularities.
6. Monitor Your Credit Report Annually For Free at:
About Credit Freezing -- where you lock and unlock access to your credit report, typically for a fee -- it only protects against new credit application and ONLY IF the creditor happens to check your credit report. And you must remember to place the freeze on your report with all three reporting agencies. If you take the other precautions this one is superfluous.
Tell us about your ID theft experiences.
Greg Moore is the Creator of the Wealth Building System
'DebtIntoWealth -- Lessons from My Journey to Debt Freedom'
'I finally see a light at the end of the tunnel and this
time it's not the train coming at me! My Debt-Free
date for my $54000 is January 2010. That's only 3
years away! Not bad for a single mom with no income
but my own.' -- Dianne D., Texas.
Get LESSON 1 FREE now: