Protect Yourself From Identity Theft

The Federal Trade Commission says that you should protect yourself from identity theft because it is the most reported form of fraud. Identity theft can result in consumers accumulating out-of-pocket expenses as a result.

A common form of identity theft is the use of a stolen credit card. I personally had this happen to me in 1989 and it was a hassle to deal with. Luckily, I quickly learned of the theft and alerted my credit card company. The theives had stolen my credit card at a New Year’s Eve party and gone shopping the next day. They even bought themselves a steak dinner on the card at the end of the day of shopping!

With a little detective work, I was able to track down the theives. They were the only people who came to our party that were not personal friends. We were able to talk with our other friends who were present and attribute the behavior to these criminals. We even had a photo of them and their address which assisted the police in apprehending them.

This was definitely a minor case of identity theft. One of my relatives has been hit for almost six figures in his business and it doesn’t seem like it is going to end. His bank is aware of the problem but can’t seem to stop it.

Everyone can start with the basics and buy a shredder to mince up personal documents. There are even ID theft insurance, credit monitoring, credit restoration and credit card insurance. Sometimes, you can find similar protection at little charge.

There are a multitude of ways to protect yourself from identity theft that are readily available. One way is to purchase the services of an identity theft protection service. For example, there is the Lifelock company. The president of this company is so sure that his service works that he has nationally advertised his on social security number. That is a pretty strong advertisement of his faith in the quality of their services.