Oct 5, 2008
Identity Theft, the Elderly, and Credit Concerns
Older Americans are often the target of many identity theft and financial scams. Sadly, the consequences for this particularly vulnerable group of Americans is just as severe as those for younger generations, if not more so. However, there are actions that older Americans can take in order to prevent identity theft and minimize the dangers of financial abuse and scams designed to take advantage of a senior’s good credit. Keep these tips in mind and your credit score is less likely to be damaged due to scams or fraud.
Avoid Giving Out Personal Information over the Phone
It seems like a simple rule to follow, but in the reality is that many times it can be difficult to know whether or not a business is reputable or not. Con artists sound just as sincere as customer service representatives, and it can be impossible to ascertain a company’s legitimacy over the phone. For this reason, unless the call is initiated by the elderly individual, and he or she knows exactly who she is calling and why, no personal information should be given out over the phone. This includes phone calls from supposed charities, banks, churches, and other ‘good-will’ organizations. If you really want to do business with the company or charity involved, look up the phone number yourself and initiate the telephone call – the offer will still be available, and you won’t have to worry about giving information to an unscrupulous caller.
Do Not Trust Links in Email
For those senior citizens who are tech-savvy, the web brings a whole new host of potential problems. Banks, investment groups, online merchants and other businesses frequently send out emails to those who have an account with them. However, many scam artists take advantage of this fact and use ‘phishing’ techniques to mimic company emails in an attempt to trick users into entering account or credit card information. The best safeguard against such practices? Don’t trust the links in email. If you receive a notice from a company that needs you to verify a credit card number or account information, call the company to confirm – almost always, these types of emails are a scam. Never use the links in an email; always type the address into the browser rather than following the emailed link.
Pay Careful Attention to Financial Managers
Sadly, most cases of financial abuse and identity theft are often perpetrated by close friends or family members. So pay careful attention to any business investments, new accounts, or other activities that are initiated on your behalf. Keep a copy of all transactions and pay attention to your credit report – if you notice accounts opened in your name that you do not recognize, take steps to protect yourself immediately.
Credit Repair Services Can Help
Elderly individuals are often at a disadvantage when it comes to damage to their credit score. This is because seniors often do not have the luxury of waiting 7 to 10 years for negative items on their credit report to be removed. Also, because of the fact that many seniors live on a fixed income, the need to have access to affordable credit lines is an important one. Credit repair services can help to undo the damages caused by identity theft and fraud, while giving back control to the victim.
Credit repair programs are especially helpful in those situations where the elderly individual needs guidance and assistance in order to understand the credit repair process, or in those cases where the elderly individual cannot act on his or her own behalf. Finding a reputable company that cares for its clients can go a long way to undoing the damage caused by financial fraud. Fortunately, there are many such companies available – so the elderly do not have to suffer in silence due to the fraudulent actions of others.
Avoid Giving Out Personal Information over the Phone
It seems like a simple rule to follow, but in the reality is that many times it can be difficult to know whether or not a business is reputable or not. Con artists sound just as sincere as customer service representatives, and it can be impossible to ascertain a company’s legitimacy over the phone. For this reason, unless the call is initiated by the elderly individual, and he or she knows exactly who she is calling and why, no personal information should be given out over the phone. This includes phone calls from supposed charities, banks, churches, and other ‘good-will’ organizations. If you really want to do business with the company or charity involved, look up the phone number yourself and initiate the telephone call – the offer will still be available, and you won’t have to worry about giving information to an unscrupulous caller.
Do Not Trust Links in Email
For those senior citizens who are tech-savvy, the web brings a whole new host of potential problems. Banks, investment groups, online merchants and other businesses frequently send out emails to those who have an account with them. However, many scam artists take advantage of this fact and use ‘phishing’ techniques to mimic company emails in an attempt to trick users into entering account or credit card information. The best safeguard against such practices? Don’t trust the links in email. If you receive a notice from a company that needs you to verify a credit card number or account information, call the company to confirm – almost always, these types of emails are a scam. Never use the links in an email; always type the address into the browser rather than following the emailed link.
Pay Careful Attention to Financial Managers
Sadly, most cases of financial abuse and identity theft are often perpetrated by close friends or family members. So pay careful attention to any business investments, new accounts, or other activities that are initiated on your behalf. Keep a copy of all transactions and pay attention to your credit report – if you notice accounts opened in your name that you do not recognize, take steps to protect yourself immediately.
Credit Repair Services Can Help
Elderly individuals are often at a disadvantage when it comes to damage to their credit score. This is because seniors often do not have the luxury of waiting 7 to 10 years for negative items on their credit report to be removed. Also, because of the fact that many seniors live on a fixed income, the need to have access to affordable credit lines is an important one. Credit repair services can help to undo the damages caused by identity theft and fraud, while giving back control to the victim.
Credit repair programs are especially helpful in those situations where the elderly individual needs guidance and assistance in order to understand the credit repair process, or in those cases where the elderly individual cannot act on his or her own behalf. Finding a reputable company that cares for its clients can go a long way to undoing the damage caused by financial fraud. Fortunately, there are many such companies available – so the elderly do not have to suffer in silence due to the fraudulent actions of others.
Labels: credit repair services, email scams, financial scams, identity theft, phishing
posted by Chane Steiner at 10:07 PM | 
