How To Detect Identity Theft
A victim of identity theft may not realize that somebody is using their identity for months or even years later. Thousands of dollars worth of debt and financial ruin could be happening under the victim’s nose, while blithely enjoying a peaceful breakfast of Cheerios and the morning edition of the New York Times. Luckily, there are many indicators that can keep you from becoming Naive Joe Consumer, Identity Theft Victim. You just need to be on the prowl for such indicators at all times.
Where Did My Credit Rating Go?
The biggest, most obvious sign of identity theft would be when you are unexpectedly rejected when applying for extra credit, such as a credit card or loan. If you have always paid your bills on time, keep very low credit card balances, and have had credit for several years, there is no reason you should be denied a Sears credit card (or some other miscellaneous retailer).
A rejection might indicate that somebody has been doing something on your credit report of which you are unaware. You might want to get a free copy of your credit report as soon as possible and go over it with a fine-toothed comb.
Suspicious “Junk Mail”
Another good indicator of identity theft would be missing bills. The mailman is not perfect and one missing water bill is probably indicative of a haphazard postman and not identity theft. However, if you are missing several bills, it may be a concern. Purchase a post office box and change your addresses with the companies you do business with. Check with the credit bureaus and all of your creditors to see if anything suspicious has happened as of late. It would also not hurt to put fraud alerts on your credit report with all three credit bureaus, to protect yourself from any future damages.
Sometimes junk mail is just that…complete and total junk. But, if you start receiving innumerable credit offers and credit cards for which you never applied, it may be a good sign to start auditing that credit report. A trigger for credit offers often happens when a financial company requests and receives a copy of your credit report. If you did not authorize it, somebody else out there did. This is definitely a sign.
Should you receive an actual credit card, ask about the application. When you file a police report, alert the police of this incident. They may be able to track down your attacker based on the credit application. For example, if someone applied online for a credit card with your information, the IP address of the computer they used to apply will be stored with the creditor. This address could be used to track down the thief and charge them with a Class C felony.
Strange, Small Errors and Charges
The most common type of identity theft manifests itself as a few unauthorized debits, charges, or withdrawals with one of your financial institutions. No matter how small the unauthorized amount may be, contact your creditor. Often times scammers will make small charges to see if the card is “good” before they really go on a spending spree. A five minute call to your financial institution can launch a fraud investigation and prevent your account from further unauthorized transactions.
If you start receiving collection calls from representatives of companies you have never dealt with, immediately request a copy of your credit report. Alert these companies that the inquiries are unauthorized, as you have never dealt with them. The company may require something in writing stating that the charges are unauthorized. Comply with any requests as quickly as possible so you can return to restoring your credit.
It can be an intimidating thing if one or more of these things happen to you. Take the first step and do not let it “work itself out” (it won’t). Scammers are out there making a living by conning you out of your hard-earned cash, reputation, and accomplishments. Be proactive and do not let any resistance stop your goal of returning back to normal consumer life.
Source: CreditIdentitySafe.com, a site full of identity theft protection tips, warnings and scam alerts.
