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Experience shows identity theft can happen to anyone

Editor’s note: Wrangler’s technology consultant, Riley Gay, gained some unwelcome experience in the arena of identity theft when his parents, also area residents, uncovered that letters and checks had been stolen from their mailbox. What he learned led to this report, which we felt would be of universal interest to Wrangler readers..

By Riley Gay

You’ve worked hard all your life to have some of the things that can make life more comfortable and secure, like your own house and a dependable car. To this end, you’ve done your best to build and maintain a stellar credit record.

When it comes time to realize those dreams, you cheerfully fill out the loan papers.

Then something happens that is so unexpected you simply can’t believe it.

The mortgage company has rejected your loan application, citing poor credit, and the bank won’t finance your car purchase for the same reason.

When you get a copy of your credit report there are half a dozen entries for credit cards and loans that you know nothing about. All the same, they’re on your credit report and turning your dreams into dust.

If this sounds like a nightmare, it’s one that has become all too real for thousands of people every day. They are the victims of what is recognized as the fastest growing crime in America—identity theft.

Identity theft occurs when someone uses personal information about you, such as your Social Security number, driver’s license number, birth date or other identifying information, to assume your identity for criminal purposes.

Unlike most other kinds of theft, however, it may be months or even years before it’s discovered. And by that time the damage to the unwitting victim can be devastating.

Knowing how it happens and how to prevent it can be your best defense against identity theft.

Your Social Security number is an important item that banks and loan companies use to identify you, and it’s the number one thing criminals will use in assuming your identity. Guarding your Social Security number is the first step toward protecting your identity.

There are very few instances where this information is required, so make sure who is getting it before you make it available.

If it’s on your driver’s license or included on your bank checks, request to have it removed. If your medical insurance card uses your Social Security number, try to avoid carrying it in your purse or wallet.

That way, if you somehow misplace your pocketbook or if your wallet is ever stolen, a thief won’t get something more valuable than just your cash or credit cards. 

With this one piece of identifying information about you, someone could easily obtain a credit card, cellular phone or checking account in your name.

Since you aren’t receiving the bills, there’s no way for you to be aware that charges are accruing to you and, until you check your credit information for some reason, that delinquencies and collections are being added to your credit reports.

Another method used by criminals to assume your identity is to divert your credit card statements to another address, and to have a replacement card sent to that address.

Any criminal can get this information by stealing either outgoing or incoming mail from your mailbox, or from receipts they might find in your trash.

If you don’t have a locking mailbox, mailing your credit card payments from your local post office and being aware of your credit card cycles can help you to avoid this type of theft.

In addition, try to retrieve mail placed in your home’s mailbox as soon after delivery as possible.

You may also want to invest in a paper shredder to dispose of charge receipts, copies of credit applications, insurance forms, bank checks and statements, and credit offers you get in the mail.

Mail theft isn’t confined only to credit cards, either. One other type of theft involves taking outgoing bills that may contain checks, and “washing” them to remove the written entries, then forging and cashing them at your bank.

Although you’re ultimately not responsible for the amount of the check, the originally intended recipient will not receive your payment, and the annoyance and inconvenience of having to straighten it out can be a hardship at best.

It’s true that your financial responsibility for most types of ID fraud is somewhat limited. Most banks, for instance, won’t hold the cardholder responsible for fraudulent credit card charges over a certain amount, usually $50.

The real damage is to your credit rating, and trying to clean up the mess can be a frustrating and time consuming experience.

One other important step that you can take to make sure you haven’t unknowingly become a victim of ID theft is to order a copy of your credit report on a yearly basis from the three major credit-reporting agencies.

The cost is generally about $8.50 unless you’ve recently been turned down for credit, in which case it’s free.

Should you find that you have been victimized, knowing early on can at least help to minimize the damage.

More than half a million people fall victim to identity theft each year, and that number is steadily rising. Being aware and taking proper precautions can keep you from being one of them.

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