Protect yourself From Identity Theft!

The Federal Trade Commission has reported identity theft as the top consumer complaint, affecting millions of Americans each year. Seniors are appealing targets because they generally have higher credit lines, home equity, and more savings than young people. Identity theft affecting seniors rose 200% between 2000 and 2001.

There are many simple ways to protect your identity. Never release personal information over the internet, unless you are absolutely sure that you are on the correct website. Never respond to an e-mail that asks you to “verify” bank account or pin information. These e-mails are almost always fraudulent. Most banks and credit cards have a 24-hour toll-free number for customer service and identity theft victims. If you suspect identity theft, immediately contact your bank and credit card companies.

If possible, always leave social security cards and Medicare cards at home. If you are going to a new doctor, take them with you, and then return the cards to a safe place when you come home.

Refuse to provide your social security number if a business requests it without a legitimate reason. Health care providers, the social security administration, and the IRS are agencies that have a legitimate reason for requesting your social security number. Small businesses, such as your veterinarian, handyman, or grocery store clerk should not ask for your social security number.

5 Easy Tips to Help Protect Your Identity

1. Print checks with as little information as possible. Use only your first initial, last name, and address. If you have a business address, use it instead of your home address. That way, if your checks are ever stolen, your home address is protected. This is especially important for female seniors who may live alone. Never print your phone number or social security number on your checks.

2. Get a copy of your credit report every year. It’s free, and if you find errors on your report, you are entitled to free reports until the errors are corrected. If you have been denied credit or you suspect fraud on your account, you are automatically entitled to a free credit report. To get a free copy of your report, go to www.annualcreditreport.com. You can also request your credit report by phone. Call 1-877-322-8228 to request your credit report by phone. Your report will be mailed to your address on file.

You can contact all three credit reporting agencies directly. The contact numbers for the three credit reporting agencies are:
Equifax (800) 525-6285
Experian (888) 397-3742
Trans Union (800) 680-7289)

3. Protect your mail. Do not leave mail in your box overnight. Get a locking mailbox from your local hardware store. They are relatively expensive, and well worth the investment. Deposit outgoing mail in US post offices, or US mailboxes. Do not leave mail out for your postman to pick up, especially if your mail contains personal checks!

4. Shred all important documents. Use a paper shredder to destroy all important financial documents. Identity thieves often “troll” trash bins for personal information. This technique is called “dumpster diving,” and is one of the most common methods that thieves use to steal financial information.

5. Never give personal information over the phone unless you initiated the phone call. A common scam is for a thief to call you, and claim to be calling from your doctor’s office. They ask to “confirm” your insurance information, and social security number, which most people supply without thinking. Don’t become a victim of this scam! Call your doctor’s office directly, and ask them if they require the information. If the call was fraudulent, contact your insurer, and the police.

If you are still a victim of identity theft, don’t panic. Go to your local police station, and file a police report. And remember--your bank and credit cards cannot make you legally responsible for crimes committed in your name by an identity thief. Contact the credit reporting agencies, and place a fraud alert on your account. If creditors begin calling, tell them that you are the victim of identity theft, and that you request to be contacted in writing. That way, you can respond with a copy of the police report and a letter. DO NOT PAY CREDITORS FOR FRAUDULENT CHARGES! Many collection agencies intimidate and bully identity theft victims. This is sad, but true. After consulting multiple identity theft victims, I was shocked by how many were also victims of creditor abuse. If you become a victim of creditor harassment, report the credit card company or creditor to the Federal Trade Commission.

The address to report creditor abuse is:

Federal Trade Commission
Bureau of Consumer Protection
55 East Monroe Street, #1437
Chicago, IL 60603
312-353-4423

There are a number of online resources and excellent books to help guide identity theft victims. Do everything you can to protect yourself, and don’t give out personal information unless you are sure the requester has a right to it. When it comes to identity theft, “an ounce of prevention is worth a pound of cure.”