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Identity Theft – Who Would Want Mine?
By: Steve Mueller
With all my bills who would possibly want my credit? Let them steal my identity
and pay my bills! Unfortunately, that’s not the way it works. Many of us
mistakenly believe that identity thieves hit only the wealthy. Nothing could be
farther from the truth. The average person is often more vulnerable that those
we consider wealthy?
When someone steals your identity, they probably won’t touch your existing
accounts and they certainly aren’t going to use your address. That would alert
you to the problem. Last year the Identity Theft Resource Center reported that
73 percent of identity thieves will open new lines of credit in your name with a
new address. Sixty three percent will take out loans in your name. Thirty seven
percent will have cell phones or phone service in your name. Fifteen percent
will even lease a car or apartment in your name. And guess what? They aren’t
going to pay the bills!
The Federal Trade Commission reported that in the last five years 27 million
identities were stolen. That’s one in every 8 adults. That’s more than 1,100
thefts per hour, three times the number of household burglaries. It’s definitely
the fastest growing crime in America.
How will you learn your identity has been stolen? Eighty- five percent learn the
hard way. They apply for credit and it’s denied. The collection agency calls
trying to collect on past due bills for things they didn’t buy. Only fifteen
percent are lucky enough to have a business alert them through verifying an
application or an address change.
How does your identity get stolen? The number one way is by stealing your purse
or wallet. That gives them your name, birth date, and often your social security
number. That’s all they need to establish credit in your name. Your mailbox is
also a prime target. If you receive checks or pre-approved credit offers in the
mail you are at risk. Some will steal directly from your mailbox. Others will
send in a change of address form and let the Post Office bring it to them. Then
there is the “dumpster diver” who goes through the trash at homes or businesses
to find the needed information.
You can’t stop identity theft from happening. But you can reduce your risk!
Remove unnecessary information from your purse or wallet. You need your social
security card when you start a new job but you don’t need to carry it the rest
of the time. Is your social security number on your driver’s license? Request a
different number from the from the state motor vehicle department. Keep those
credit card offers out of your mailbox. Have your name taken off the marketing
list of the three major credit reporting bureaus (Equifax, Experian, and Trans
Union). Drop your bills off at the post office instead of putting the flag up on
your mailbox. Never give an unsolicited caller your social security number,
credit card number, or other personal information over the phone. If someone
calls representing your financial institution or a creditor get their name,
location, telephone number, and the reason they are calling. Then call them back
at the phone number printed on your billing statement, not the number they gave
you.
Routinely check your credit report for accuracy or even better; subscribe to a
monitoring service. It’s an easy and cost effective way to protect your family’s
name and finances. A professional credit analysis yields valuable information.
They’ll give you specific instructions to reduce your chances of becoming an
identity theft victim. Daily monitoring gives you the earliest possible
detection. Early detection keeps personal and business losses to a minimum.
Businesses are hit hard by identity theft. Remember they pass those costs on to
you, the consumer.
You don’t have to become an overnight identity theft expert. Letting a
professional resolve the situation for you makes an otherwise costly,
frustrating, and unpleasant experience easier to bear. You’ll have the peace of
mind of knowing that someone is always there watching your back for you.
About the Author:
Steve Mueller has over 25 years of human resource experience. He has worked in
various fields of human resources; as a Trainer for Cooper Industries,
Compensation and Management Development Manager for Zenith Electronics, Plant
Personnel Manager for a motor manufacturing company and Benefits Manager for a
multi-location distribution company. Steve holds a bachelors of science degree
in Education, from Pittsburg State University. He has taught numerous adult
education classes and seminars in the community. He received a community service
award for his participation in an elementary school child safety program. |
