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Did you know that anyone can be a victim of identity theft? Looks like not even the Federal Reserve chairman, Ben Bernanke, immune to it.

According to USA Today, identity thieves stole his wife's purse last August from a Capital Hill Starbucks. It doesn't appear that the Bernanke's were personally targeted as there were over 500 families involved.

What was in Mrs. Bernanke's purse? Her drivers license, Social Security card, four credit cards and a book of checks from the couple's joint bank account. You would think the federal reserve chairman's wife would know better than to keep her Social Security card in her purse.

With your drivers license, social security card and a credit card, the identity thieves have all they need to assume your identity and wreck your finances. If you currently have your social security card in your purse or wallet, remove it now and put it in a safe place.

Here is a 3 part series I wrote on Avoiding Identity Theft:
Avoiding Identity Theft - Part 1
Avoiding Identity Theft - Part 2
Avoiding Identity Theft - Part 3

I received a letter in the mail from the USPS the other day with a flyer on avoiding Identity Theft. Usually mailers I get from the post office go straight to the trash (once I make sure it is not something that is important). Identity theft is one of my biggest financial fears and I want to be sure I'm taking the right steps to avoid being a victim. Identity theft can quickly erase the good credit history you've worked so hard to build. Identity theft can cost you your hard earned money and your precious time.

Deter Identity Theft by:

• Rip it up. Invest in a good quality shredder and make sure you USE IT. The best are the ones that make the "confetti" cuts vs. strips that can possibly be put back together. Make sure you can also shred credit cards. Buy.com carries a good selection of paper shredders for a reasonable price.
  


• Unpublished Number. I'm not talking about your phone number; I mean your Social Security Number. NEVER carry your social security card in your purse or wallet. If your purse or wallet is stolen, so is your social security number. If your employer prints your social security number on your health insurance card, ASK THEM TO REMOVE IT. My employer used to print social security numbers on our cards until about 2 years ago. You should also never have your social security number or drivers license number printed on your checks. If you live in Georgia, they will use your social as your drivers license number. If you request that they not use your social as your drivers license number, they will change it with no problem. If a service provider asks for your social, ask them why they need it and if they can use any other identifying information.


• Don't Get Clicky. Never click on links sent in unsolicited emails. If you get an email from your bank or broker. Go to the website that you usually use and log in to verify the request.


• Make it random. Don't use obvious passwords or the same password for all sites. Forget about using your birthdate, mother's maiden name, last four digits of your social, phone number, tag number or any other easy to access information.


• Hide It. Keep your personal information in a secure place at home; especially if you have roommates, have people working in your home or have alot of visitors. I went over to one of my friends and if I had wanted to steal his identity, I had all the information I needed right there on his dining room table.

Have you ever had your identity stolen?

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If you've made all the right moves to keep your personal information safe and someone is still skilled enough to steal your identity, don't panic. Panicking is the last thing you need to do when something like this happens. You need to take immediate action to restore your good name.

As soon as identity theft is identified, you need to take the following steps:

• Fraud Alerts. Place a fraud alert on your credit reports and review the reports in detail. Placing a fraud alert on your credit reports will stop the thief from easily opening additional accounts in your name. You only have to call one of the three companies to place a fraud alert and that should be sufficient (I would still call all 3 just to be sure). Experian can be reached at 888-Experian, Equifax can be reached at 800-525-6285 and TransUnion can be reached at 800-680-7289. Once you place a fraud alert, you are entitled to free credit reports from the credit reporting bureaus.


• Close Accounts. Any new accounts that have been opened in your name without your permission need to be closed as soon as possible. Call the fraud department of the creditor and advise them of the situation. Followup in writing via certified mail. Keep track of every letter you send and every call you make. Use the theft affidavit at ftc.gov/idtheft to support your written statement.


• Police Report. Make sure you file a police report with your local agency. Identity theft is a crime and needs to be handled as such.


• FTC. Report the identity theft to the Federal Trade Commission. Your report will help the law enforcement officials across the country with their investigation.

Thankfully, I've never been a victim of identity theft and by using the information presented in this three part series, I hope to never be a victim.

Related Articles:

• Avoiding Identity Theft - Part 1
• Avoiding Identity Theft - Part 2

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Saturday, I presented a few key tips to avoid Identity Theft. Today, we'll discuss a few signs to determine if you have been a victim of identity theft

Signs that require your immediate attention:

• Missing Bills. Because you take great care in knowing when your bills are due, you can tell pretty quickly if a bill does not arrive. It may have been lost in the mail or some other mix up. If your bill does not arrive as scheduled, check up on it. Note: A missed bill does not relieve you of your payment obligation. Sign up to receive online bills if offered by the provider and you don't run the risk of having bills lost in the mail or stolen from your mailbox.
• Unexpected Bills. Receive a bill in the mail for a credit card you never applied for or for a card you haven't used in a long time? You may have been a victim of identity theft and you'll need to take steps to clear your good name.
• Unexpected Denial of Credit. Think your credit is excellent and then you get turned down for a credit card or home loan? You need to pull your credit report A.S.A.P to see what the problem is. Have you been a victim of identity theft or did you just forget to pay a credit card bill?
• Unexpected Phone Calls. Getting calls from a bill collector and you don't have an overdue bill? It could be a mix up or it could be identity theft. Check your credit report.

What is the best way to keep tabs on your credit? Check out AnnualCreditReport.com to get a free credit report once a year from each of the 3 major credit bureaus. You only get a free report and not a credit score. If you require more frequent updates like me or like to know your credit scores, consider using a paid credit report monitoring service like Equifax 3-in-1 Credit Watch Gold or all 3 Scores and Credit Reports from myFico.com. These services help you to quickly identify potential identity theft by alerting you to major changes in your credit.

Related Posts:

Avoiding Identity Theft - Part 1

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