Credit identity theft – Are you one of the victims?
Let’s face it, a thief can and will steal anything. This can range from bigger items like a car, TV and other household appliances to smaller items like electronic gadgets and collectibles. Some items can be replaced either by insurance or by repurchasing them, but there will always be some sentimental items that are irreplaceable.
You think the above are the most valuable possessions you own? Absolutely not! It’s your identity which is the most valuable. That’s right. A criminal may be impersonating you to receive the same treatment that you would get when you apply for a loan, bank account or credit card.
ID theft can leave you feeling helpless and cheated. And who knows, this might be even happening at this very moment without your knowledge. Somewhere out there a criminal might be impersonating you after gaining knowledge of your financial and personal life. You may not become aware of this until you receive an invoice demanding that you pay for an extravagant purchase you didn’t make.
This is just the beginning of the end. By the end I mean of your credit history. Though you may have a very respectable history, with a single incident like this, your credit can be damaged. You can be held guilty or liable for things you did not do.
Credit identity theft has become more common and every government is taking measures to prevent these thefts. The best way to prevent it initially is to have knowledge about your own financial accounts. And if you have any joint accounts, make your joint account holder aware about any unusual charges. Always be aware of unusually high expenditures and outstanding balances.
A few points that you can follow to avoid all such mishaps are:
- Make a frequent check of your credit reports
- At home, keep all the materials out of sight from your visitors
- Don’t share your private information
If you find anything suspicious, report it immediately. If caught early, you can usually prevent any further damage and even be reimbursed for charges that have already occurred. Following the few tips above can be all that is required to keep your identity safe. A clean credit history is one of the most valuable possessions one can have. Protect it.
Another way to protect yourself is to use an identity theft protection service. There are several companies offering this type of service at very reasonable rates.
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