Identity theft and helpful hints and tips

It is very possible that a criminal who gets his or her hands on your financial information could run up debts of $50,000 or more without you even realizing it. As computerized commerce become more and more ubiquitous, the odds that someone will steal your personal information to use it for illegal activity becomes greater. The crime of identity theft is a growing one. Should you find you have been victimized by identity theft and credit theft, it could take months to resolve. You may find yourself unable to land employment, just because someone impersonated you and spent a bunch of your money. In the meantime, your credit score could be damaged, and you could find yourself without a way to purchase a home or an auto.

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What can someone do to avoid becoming a victim of identity theft or credit theft? Following are a few quick tips that will help:

• Asking for financial information by e-mail is a common ploy, known as phishing, that is designed to acquire your personal information. Don't provide personal information to anyone or any company that sends you e-mail asking for it. Do not give out personal financial documentation over the Internet unless you commenced the transaction. It's Acceptable to give your credit card number to an online store if you have decided to buy something.
• Watch out for your mail, such as incoming and outgoing letters. People often steal mail out of mailboxes to obtain personal information.
• Store your Social Security card in a safe place and leave it there. You will rarely need your Social Security card as most adults never show the card to anyone in their lives. Do not carry your Social Security card with you; if you misplace it, the number on it could be valuable to an identity thief.

• Many organizations will ask for a Social Security number as a matter of procedure, but will not actually use it for anything. If anyone requests your Social Security number, ask if giving it is really important.
• Destroy, using a shredder, any banking documents that you do not need. Shred all of those convenience checks that your credit card company sends you regularly and any preapproved charge card applications you may find in the mail. "If you do not need it, shred it" is a smart philosophy.
• Check your credit report several times annually. You can obtain a copy of your credit report for no charge at annualcreditreport.com. If your credit report contains peculiar or criminal entries, call the authorities and the credit bureau immediately. You can receive one credit report for no charge each year from each of the credit bureaus, which will permit you to evaluate your report every four months, if you wish. Scan your credit report in detail to see if there is any information there that you may not have known about - a recent charge card or home loan or auto loan or any one of a good number of financial transactions that a criminal may have conducted in your name.

A small amount of diligence can go a long way towards avoiding identity theft, and it's lots less trouble than working your way out of the trouble you will encounter should someone steal your personal information. It pays to be watchful.