Credit, second only to your family and your time, is the most important asset you possess. The difference between having credit or not can be the difference between freedom and oppression, between opportunity taken and opportunity denied.

In every other system in this country, you are innocent until proven guilty. Not so with your credit. All a creditor has to do is say that you were late or delinquent in your payments and it goes on your record. It's up to you to prove conclusively that you were in fact, not late. If you don't have any proof, your creditor wins and you lose. Your creditors cannot be held liable as there is no way they could have known you were a victim of fraud. If, in the unlikely event you can find and identify your identity thief, chances are slim you will be able to recover costs from him/her for your efforts to clear your name, so it is worth the effort to take precautions against this happening to you.

The Federal Trade Commission recently released a survey showing that 27.3 million Americans have been victims of identity theft in the last five years, including 9.9 million people in the last year alone. According to the survey, last year’s identity theft losses to consumer victims was reportedly $5 billion in out-of-pocket expenses losses to businesses and financial institutions totaled nearly $48 billion. Below is a list of questions and answers to help you understand identity theft and what you can do should you suspect you might be a victim. Please contact our office for additional help.

How does a thief get the information he/she needs to steal my identity?

Information can be stolen from a consumer in a variety of ways including;

	Going through your mail or trash to take pre-approved credit card offers, discarded credit card receipts or other personal information;
	Stealing your purse or wallet;
	Calling you on the phone, posing as a solicitor in order to gain personal information including your name, date of birth, social security number;
	Looking over your shoulder at an ATM while you are accessing your account, to steal your account number and password or pin.

How will I know if I am a victim of identity theft or fraud?

	Your credit card statements show unauthorized charges and/or purchases that you know you did not make;
	You fail to receive bills or credit card statements for charges you have made, when in the past you received them at the same time each month;
	You are receiving phone calls from creditors trying to collect debts that are not yours.

	Contact our office for help;
	Order copies of your credit reports from all 3 credit reporting agencies to get as much information as possible;
	Contact the credit reporting agencies in writing and let them know that you are disputing specific inaccurate items in your credit report due to possible identity theft. Under the FCRA, they must investigate, and ;
	Contact the credit card companies who are reporting the false debt and have them investigate due to possible identity theft.
	Keep copies of all letters and document phone calls. Request a letter from the agencies that states these items are under investigation.

	Do not carry important documents such as your social security card, birth certificate or passport with you unless absolutely necessary;
	Only keep a few credit cards in your purse or wallet when shopping;
	Keep a list of your credit card account numbers, with expiration dates and telephone numbers. Do the same for all your bank accounts. In an emergency, you can notify these companies quickly to stop fraudulent charges or purchases.
	Always take credit card receipts for all purchases and store in a safe place, or dispose of by shredding, not by throwing away in a public trash container.
	Invest in a shredder and shred all items including discarded credit card and bank statements, old receipts and utility bills, and new credit card offers you receive in the mail;
	Use a mix of letters and numbers, not personal information such as your birth date, last four digits of your social security, or mother’s maiden name when creating passwords and PIN’s for important accounts. Do not store these in your purse or wallet! Don't carry extra credit cards, your birth certificate, passport or Social Security number with you unless necessary. This will minimize the amount of information a thief can steal from you. Don't print your Social Security Number on your checks. Only give it out if absolutely necessary.
	Shield the ATM screen when using it in a public place.
	Keep current with the information that is on your credit file. Don't learn about negative information when you go to apply for a loan.
	Be proactive about your credit history…protect it!…by ordering your credit report!