Identity Theft Solution!

Detection

Deterring identity theft from happening is the first step in developing a smart solution for ID fraud. But no matter how careful you are, there's always the possibility that your information could get into the wrong hands. And if that happens, it may not even be your fault! For example, in order to do legitimate background checks or credit reviews, your employer, renter, lender or credit institution may request your Social Security number. By giving out your personal information for necessary services, your identity is only as secure as the employer, renter, or lender you place your trust in. That's why it's critical to be on the lookout for ID theft.

Know the signs of ID theft

Often times, it's impossible to know your identity has been stolen until after the ID thief has started using your identity. There are several common signs to be aware of when it comes to detecting identity theft. If your identity has been stolen, you may come across accounts in your name that you don't remember applying for. You may also find charges on your current accounts you don't remember making. Additionally, be concerned if you receive a credit card you don't recall applying for. And keep track of your current bills. If you stop receiving bills from a particular account, it could be that an identity thief has taken control of your account and is forwarding billing statements to a different address to keep you from noticing charges you never placed.

Keep track of your credit

If you are denied credit for no apparent reason, or if you are offered credit under less favorable terms than you expected, your identity may have been stolen. A sure sign of identity theft is when you start getting phone calls from bill collectors over accounts you don't remember opening. But not all identity theft victims have the benefit of bill collector tip offs. That's why it's important to be aware of your credit history.

Request and read your credit report

Understanding your credit history begins with reading your credit report. There are three credit bureaus that monitor consumer credit in the US: Equifax (800-685-1111), Experian (888-397-3742), and TransUnion (800-916-8800). Under federal law, you are entitled to one free credit report per year. Prices for additional reports per year may vary by bureau, but may not exceed $9.50. Regularly reviewing your credit report is an excellent way to detect and defend against identity fraud. While you can do this on your own, a low-cost credit monitoring service can do this for you as well.