Secure Your Life with Identity Theft Reporting and Protection
Credit Card Theft
Given the chance to live a simple life where the advent of technology has not yet conquered humanity, some people will prefer to have that so. With all the recent advancements, so much now is beyond the control of the average person. Identity theft in the web world and in personal transactions is also increasing.
In spite of remarkable efforts, the problem continues to exist, and the situation is getting worse. Now, a collaborative endeavor with the proper authority has been undertaken [Fair and Accurate Credit Transactions Act (FACTA) Identity Theft Red Flags Rule] to solve the threat brought by identity theft. Identity theft is indeed a menace in American society. This issue has been plaguing the population for some time. It already affects millions of US citizens. More and more victims everyday are filing their complaints.
According to the media in the United States, the problem of identity theft is considered one of the most prevalent crimes of our era. Statistics show that the ratio of the crime is 1:5. In other words, for every five families residing in US, one of them is a victim of identity theft.
Why is identity theft so prevalent? This crime involves taking the personal information of another person without due consent, from the name down to other legal documents that a person possesses. In addition, after taking the personal information, the thief tends to use it in deceitful transactions where they can steal money.
Several preventive measures are recommended to stop further misuse of your identity once you discover that someone has stolen it from you. This is the practice of identity theft reporting. It allows you to give prior notice to the agencies and bureaus concerned.
Here is how identity theft reporting works for you.
1. Contact the fraud departments of the three major credit networks, Experian, Equifax, and TransUnion. A fraud alert is placed on your personal data so when a transaction takes place, you will be notified. If anyone tries to open a credit account in your name, it will be denied, and it will be immediately reported to you. Keep in mind that YOU will have to notify the credit bureaus before YOU can apply for credit, such as a mortgage, car loan, or new credit card. It may seem like a nuisance, but considering the alternative, it’s a small price to pay. However, this is only one way to protect you from identity theft.
2. When you encounter identity theft, report the crime to the nearest local police or sheriff’s department in your locality. Credit bureau reporting should also be done immediately after you discover the crime. Do not let it pass for over 24 hours because you will give the thief a chance to manipulate his actions. This is worse if it already involves your credit account. Many credit card companies will contact you if they detect any suspicious behavior (such as ordering with one address and shipping to another address), but don’t count on it. Be proactive.
3. After you have reported the crime, be sure that you request a police report. Sometimes, this requires a personal statement about what happened. Be factual and report as many details as you can remember. This will serve as a basis for the authorities to conduct their investigation.
4. Coordinate with your creditors and/or banks and notify them about the crime. Let the banks and utility companies freeze all your accounts. The police report record may be required as well. Keep in mind that you can be accountable for a minimal amount for your account replacement. Some banks will provide you with a new passbook or new credit cards. Sometimes, they will also issue you new account numbers.
5. Prior to your identity theft reporting, if you noticed that somebody already made an unauthorized withdrawal from your account, notify the bank right away. By doing this, they will immediately make efforts to trace the person who made the withdrawal. Be sure to do this immediately!
6. You should instantly stop access to any existing accounts using your previous identity. You can alert the check verification company, as well. This will make them reject whoever will attempt to withdraw from your stolen account.
7. Aside from your bank account and credit card account numbers, you should also make a report to the Social Security office to find out if they can issue a new card for you.
8. Some credit card companies have additonal protection that you can buy to protect all your accounts. Look into it.
It is very important that you protect yourself from being one of the victims of identity theft because if you don’t, one day you may suddenly notice that you’ve almost lost everything that you own. Identity theft can destroy both your reputation and your person wealth. Do not let tis to happen to you. Act now before it is too late!
Category: Featured, Identity Theft