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Identity Theft Resources You Can Use

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Identity theft is a very real and devastating misappropriation of an individual’s personal information that allows for the thief to take on the identity of their victim.  Some of the devastating effects of identity theft can include the unauthorized access to an individual’s finances, illegally accessing credit card accounts, creating new credit card accounts in the victim’s name, etc.  This type of activity has seen an increase in occurrences that can be defined in epidemic proportions.

The negative aspects of identity theft can be measured in millions of dollars lost to financial institutions.  Also, for an individual to reverse the effects of identity theft it would take thousands of dollars and years to restore the integrity of a person’s name.  Above all, the personal violation to the individual affected cannot be measured in tangible terms.  

Therefore, it is important to be aware of a few identity theft resources.  Some of those identity theft resources can include practical tips to implement in order to avoid being a victim.  Another identity theft resource is information on what to do if you suspect that you are a victim of identity theft.

Practical Tips

An ounce of prevention is worth a pound of cure.  Therefore, probably the most valuable identity theft resources are those practical tips that you can take to avoid becoming a victim.

A few of those practical tips include a strong caution about carrying your Social Security card or number on your person.  Losing a wallet or purse that contains your social security number provides an opportunity for an unscrupulous individual to begin the process of stealing an individual’s identity.

Another practical tip is to carefully discard receipts that are provided if a purchase is made.  Sometimes these receipts may include the full credit card number used to make the purchase.

Also, it is important to review your credit report.  Your credit report will provide a listing of history inquiries made that relate to your credit history as well as reveal all accounts that have been opened under your name.  Reviewing your credit report on a quarterly or certainly a yearly basis is highly recommended.

If You Suspect Identity Theft

There are many identity theft resources that are available if an individual suspects that they are the victim of identity theft.  Contacting these resources as quickly as possible will help to minimize the damage that may occur.

One of these identity theft resources are the three credit reporting agencies.  If you suspect identity theft it is important to contact Experian, Trans-union and Equifax.  By contacting their fraud department the individual can alert these companies concerning the potential of being a victim.  Part of the reporting process includes the requesting of an alert on your credit record and the placing of a written statement regarding notification.

If any identification is lost or stolen it is important to notify the authorities.  This report should be made to the local polices department.  If credit cards are lost or stolen it is also important to notify the company that has issued the card and ask them to cancel the card immediately.  Also, indicate your reason for making that cancellation request.