Identity Theft Q&A
Identity theft affects millions of Americans each year and their families. A silent crime, many victims do not even know they've been affected until it's too late. This is why so many consumers seek the assistance and protection provided by an identity theft monitoring service. These professionals provide 24-hour, 365-day monitoring of your credit and protect you from identity thieves. To protect yourself and your family, be sure you're guarding sensitive information in your home, and are actively taking steps to prevent identity theft. A monitoring service is one of the most commonly used strategies to combat identity theft.
How it works
Many consumers have identity theft Q & A. The crime is widespread, but thieves go about committing the crime in many ways. But identity theft monitoring services help curb these activities through a variety of techniques. For a small monthly fee, you will receive these services, among others:
- Complete credit monitoring: Any inquiry on your credit report will be red flagged and investigated for fraud, automatically.
- Junk mail reduction: Solicitations and other junk mail will be reduced, which will lower the likelihood that a thief can get a hold of your sensitive information
- Annual credit report: Your service will make sure you receive a copy of your credit report once a year, so you can review the information and verify that all is well
- Strong support: In the event that your identity is stolen, the monitoring service will pay for all of your identity theft-repair expenses up to $1 million.
Why it's important
Identity theft can permeate nearly every area of your life. Your credit report and credit score affect the types of loans you receive, whether you're approved for them at all, and even the rates you'll pay for auto insurance. Imagine the damage that an identity thief could do to your credit score by gradually opening and defaulting on credit accounts that were opened in your name. Consumers can fight back by carefully protecting their personal information, routinely reviewing their accounts and enlisting the services provided by an identity theft monitoring service.
Too often, consumers find out they are victims of identity theft too late. It's very common for a family to apply for a new mortgage, and learn that they cannot make the purchase because of their poor credit. Of course, the family quickly discovers that an identity thief has spent months gradually ruining their good name and excellent credit history. While the damage can be repaired over time, it can't be fixed immediately. To prevent a situation like this from affecting your family, take action now. Guard your information. Change your passwords. Buy a paper shredder. And sign up for a monitoring service.
How to fight back
There are some strategies you can employ every day to protect your identity. In fact, identity theft prevention can be a relatively simple and straightforward process. The strategies include:
- Shredding sensitive information and bank statements
- Signing up for electronic billing and payments
- Changing passwords to include numbers, letters and symbols
- Reducing junk mail and solicitations
- Keeping personal information safe at home
- Guarding purse/wallet while out in public
- Signing up for an identity theft prevention service