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Identity ProtectionChecking and monitoring your credit is a vital step in protecting yourself against identity theft.

Identity Theft - It Can Happen to You

Most people are unaware of identity theft until months after the fact when the damage is done and suddenly problems start cropping up everywhere. For most people, the first clues of possible ID theft are:

Being turned down for credit because of low credit scores, and bills are always paid on time.

Receiving a credit card in the mail, you did not apply for

Worse yet, a bill collector calls and starts demanding payment for purchases you did not make.

These are obvious clues that someone has compromised your identity and immediate action is needed on your part.

What is Identity Theft?

Identity thieves steals your identifying information, age, birth date, social security number, mother's maiden name, etc., and uses this information to apply for credit, and make purchases as if they were you. Businesses gladly extend credit to these thieves because they think they are selling their products to you, someone with excellent credit.

Most identity thieves go on a fast buying spree once they have your personal information. They continue buying and charging purchases as quickly as possible until they are turned down for purchases because they have ruined your credit, and/or you have found them out and are shutting down their ability to use your identity. Then they move on to the next victim. At that point, you start getting calls from the collection companies demanding payment for purchases you did not make and your nightmare begins...

Check Your Credit Report - For Identity Theft Clues

Your credit report is one of the first places to check to determine if you are a victim of identity theft. If it shows you have bills that are not being paid on time, and you know you do pay on time, or if it shows that you've made purchases that you have not made or have credit where you've not applied then you should start investigating immediately. The longer you wait, the more damaging it will be. Identity theft can make it difficult or impossible to obtain new credit yourself until you get it resolved. Unfortunately, it is not possible to ignore this problem, it will not go away on its own. You need to act quickly and aggressively to minimize the damage.

ATM and Bank Checking Accounts - Identity Theft is not limited to Credit Cards

Identity thieves are experts at getting into bank accounts and accessing funds. Report a stolen ATM card immediately. Typically, the longer the crime goes unreported, the more likely you are to be responsible for the charges incurred. Don't just ask for a replacement card, get a new account number and password as well. Electronic banking is another area where you need to be careful, and report any possible compromise of your checking account security to the appropriate authorities immediately.

For more information on how to recover from identity theft review: Steps to Recovery - For Identity Theft Victims