by Diane Walsh

Created on: November 04, 2009

Are You an Identity Theft Victim Waiting to happen?

Identity theft is one the largest white collar crimes in the United States. Do you sign your credit cards? Do you supply personal information over the internet? Most people will answer, yes. That makes them candidates for identity theft.

The way people do business is not going to change, so you must take some precautions.

Monitor your credit card on line

Be careful when purchasing on line

Don't fall for scams. They only want your vital information

Don't respond to unsolicited e-mails.

Protect your social security number. Don't carry it with you.

If your identity has been stolen, you must act immediately. The amount of money you can be held responsible for can depend on how fast you report the theft.

If your credit card is stolen or misplaced, report the theft to your bank or Credit Card Company within two business days. You are only required to pay $50.00. If you report the theft after two days but before 60 days, you could lose up to $500.00. If you fail to report the loss after 60 days, you are responsible for the complete charges.

For victims of identity theft the damage has already been done. Your priority is to limit the damage and prevent future damage. Five quick steps you must complete are:

1. Notify all credit bureaus

2. Place a credit freeze on your account

3. Place a fraud alert on your credit report

4. Notify local police or sheriff department

5. File a complaint with the Federal Trade Commission.

You have to work on your own behave to help solve the problem. Banks and credit card companies have millions of customers. They react but never as fast as you working with them.

Legal rights depend on the violation. State laws protect you against fraud using paper documents, like stolen checks or counterfeit checks. Federal law protects you against electronic fraud. Ask your financial institution what type fraud you are battling.

You need to keep after the bank, store, or credit card to have your name and problem on their active list. Do not let your problem slip to the bottom of the pile.

Your records need to be in front of you and in a system for you to find answers in seconds. Don't ever say, I'll get back to you with Firstly, it is never the same person and secondly, you just got clicked to the bottom of the pile.

If you don't have a credit report, you need to do that now. This will tell you immediately if any changes occur with or without your knowledge. It also provides information needed in the organization part of your plan. A great site established by the Federal Trade Commission to allow people to access a copy of their credit report for free is: www.annualcreditreport.com or call them at 877-322-8228

You will first be required to answer several questions, to prove you are you. Great idea when you're dealing with identity theft. Once you receive your credit report, go over it again and again. Make sure all items are correct. If you question any entrees, make a list and react immediately. Contact the bureau and have an alert place on file. Then contact the entrees and companies that are not yours.

You can get a credit report from all three or one of these credit bureaus

Equifax

Experian

TransUnion

The Federal Trade Commission has another site full of information at: www.ftc.gov/idtheft.

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