Home > Identity Theft > Can Consumers Fight Back Against Identity Theft?
Can Consumers Fight Back Against Identity Theft? |
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The importance of regular review of one's credit report has been stressed innumerable times. But there are
many people who still choose to ignore personal credit history. There are several reasons why one should review his or her credit report on a regular basis, but the most important reason is identity theft. Identity theft is not a rare crime any more in today's world. Accessing your identity information and personal data is not as difficult a task as you think. This is further proved by the increasing misuse of the social security number over the last two years, which has resulted in a great number of credit-related identity theft crimes. The only way you can fight back against identity theft is by learning how it occurs. You also need to actively monitor your credit report for unauthorized account use regularly. An online instant credit report will immediately show any new credit report activity on accounts that you haven't been using, as well as new credit report accounts that you've never opened. Having instant credit report information at your fingertips is the best possible way to check for identity fraud: you can instantly notify your creditors of the fraud, change your passwords, and close fraudulent accounts before it gets too late and damages your good credit. Always go for a 3-in-1 instant credit report as it gives you a copy of your credit report from all the three major Credit Reporting Agencies (CRAs). The reason why you need a report from all three is because several merchants don't deal with all the three major CRAs, so if an identity thief plays foul using only one of your credit accounts, you won't even get to know about it unless you view all the three credit reports. Most credit monitoring services offer 3-in-1 credit reports. Checking your credit report may also reveal activity on an account you don't use--get a copy of your credit report to see your currently open accounts, and stay on top of the situation with the credit check monitoring services. Usually, the only way you'd be able to figure out identity theft has occurred is by requesting for a copy of your credit report. Most people, however, don't have the time to place a request for a copy of their credit report on a monthly basis, and go through the contents of the entire report thoroughly to find out entries that may indicate possible identity theft. The credit check monitoring service is ideal for such consumers who want to be updated about their credit information, but don't have the time to do so. At almost half the cost of ordering your instant credit report every month, the credit check monitoring service provides you online monthly monitoring alerts that show only the recent changes and keep you updated. Moreover, you can get unlimited free copies of your credit report any time throughout your paid membership. Get a Copy Every Year Even if you get monthly alerts from the credit check monitoring service, you should request a copy of your instant credit report from the three credit reporting agencies every year and ensure that all the information is correct, especially your personal information, such as name, address, and Social Security number. Check carefully for indications of fraud, such as unauthorized applications, unfamiliar credit accounts, unknown credit inquiries, as well as defaults and delinquencies that you didn't cause. You also need to check your Social Security Earnings and Benefits statement once every year to ensure that someone else is not using your Social Security number for employment. Cancel credit cards that you don't use so that your instant credit report won't contain their numbers. If Your Identity Has Been Stolen Get in touch with the fraud department of any one of the three major CRAs to place a fraud alert on your instant credit report. Placing a fraud alert means that creditors will contact you before opening any new accounts or making any changes to your existing accounts. As soon as one credit bureau confirms your fraud alert, the other two credit bureaus are automatically notified to place fraud alerts. Close all those accounts that you believe have been manipulated or opened illegally. Most important, file a police report and submit a copy of your instant credit report to your creditors as a proof of the crime. |
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