Identity Theft Protection

Identity theft protection COVERS your privacy

Your personal situation is different from anyone else. You should take the time to review this consumer identity theft protection guide to find the best solution for your needs and goals.

What Is Identity Theft Protection?

Identity theft is a crime in which someone accesses information to commit fraud, typically by getting false credentials, opening new accounts in someone else’s name or using someone else’s existing accounts. Identity theft is a serious crime in the United States. Nearly 15 billion dollars were stolen from identity theft victims in 2017.

How Does Identity Theft Occur?

There are a lot of ways identity theft can happen to you. Hackers may get your information from a data security breach. Or you may unknowingly provide it on social media, during conversions others can hear or by leaving financial documents in unsafe places.

Types Of Theft

An identity thief might use your personally identifiable information (PII) to access and drain your bank accounts, damage your credit, or more. Here are some of the different types of identity theft that you should know about to help protect your information and finances.

The is the most common type of identity theft. This occurs when criminals access your existing accounts. Once they break in, thieves can charge your credit cards, file claims against your insurance policies, or otherwise drive your finances off a cliff.

A thief can create a totally new account using your personal information, often via the Internet. This is difficult to identify unless you closely review your credit report for new accounts openings.

If a criminal has your personal information, he/she can file a tax return for a refund. The IRS then rejects your tax return. Problems.

When an identity thief uses your health insurance to get medical care in your name, doctors may update your records with the imposter’s medical information. You may receive fraudulent bills. Or bills not received are bills that are not paid which will hurt your credit or future insurance coverage.

If an identity thief uses your name and SSN on an employment application, the employer will report wages to the IRS and state authorities. You may then be liable for additional taxes.

Children’s Social Security numbers and personal information are used by an identity thief to open new accounts, apply for government benefits, take out loans, and more. Your child may not be aware of this until he/she applies for credit.

Difficult To Detect

Identity theft can be a difficult crime to spot. It is one of the key reasons why so many people become victims. Here are facts about this growing crime that can give you the information you need to help protect yourself.

  • Identity theft is a problem for millions of people 7 million consumers experienced identity theft in 2017.
  • Identity theft happens regularly – There was a victim of identity theft every 2 seconds in 2017.
  • Data breaches contribute to identity theftA single data breach could expose enough of your personal information to make you an identity thief’s target. There were over 1,000 breaches in 2016
  • Social Security numbers are key– Social Security numbers aren’t easily replaced. If yours is lost or stolen, an identity thief could use it for years or even wait years before using it the first time.
  • Public Wi-Fi is an identity thief’s friend – With the right tools, identity thieves can monitor what you do on public Wi-Fi, even if it is password protected.
  • You can do everything right and still be a victim – If there is a data breach at your doctor’s office, school, or any other business that has your personal information, you could be at risk of identity theft. 36 million records were breached in 2016.
  • The risk is everywhere – In today’s digital world, you are more likely to have your identity stolen from the Internet than your car stolen or your home burglarized.
  • Recovery takes time – In 2017, over 140 million hours were spent by identity theft victims trying to solve their issues.

What Else Should I Know?

In this age of electronic data and the internet, our personal information and digital footprints circulate faster than ever.  And there are criminals ready to take advantage, at any time. Everyday activities may unknowingly put you and your family at risk. Even simple things like sharing phone numbers, home addresses, and email addresses, can open the door for thieves to get deeper access to personal information and potential risks.

Identity Theft Protection Process

Identity theft can impact anyone, anywhere, at any time. That is why an identity theft protection service needs to be a proactive, advanced system that helps keep your personal information safe. The service delivers ongoing monitoring, rapid alerts, and recovery services so you can rest assured that someone with experience and knowledge is supporting you 24 X 7.

Continuous monitoring of your identity, privacy, and credit by using innovative and proactive identity theft protection technology. Detection of illegal selling of your personal, financial, and credit information.

A warning system rapidly notifying you when your personal information is at risk. Alerts are sent to your smart phone, tablet, or desktop computer, so you have the power to act before damage is done.

When you want total identity control you need to know where or how your online information is being used. Protect your keystrokes, PIN numbers, and credit card information.

Certified Protection Experts offer comprehensive, 24/7 recovery services. We will, on your behalf, complete paperwork, make calls, and handle every detail to restore your identity.

Identity Theft Protection Checklist

The following is a brief list of the six most important things your identity theft protection service should include:

Comprehensive protection that searches for unauthorized use of your identity in the dark web and public records and suspicious activity on your credit report will reduce your risk by increasing your chances of catching problems early.

A service that proactively alerts you to suspicious activity in a timely manner will greatly reduce liability by catching problems early.

Anti-phishing and anti-keylogging software is important. It helps protect you from malware and adds that extra layer of security you need when using the Internet.

You need to be aware of any changes to your credit scores or reports multiple times during the course of the year.

The service you choose needs to be committed to managing the restoration of your identity if you become a victim of identity theft. They should manage it for you every step of the way so you don’t have to.

Adults aren’t the only ones vulnerable to identity theft. Be sure to select a identity theft protection service that offers you complete coverage for you and your family.

Thoughts On Identity Theft Protection

Approximately 1 out of every 4 adults are victims of identity theft and witness an average loss of about $3500 in each instance. The damage of ID theft can be devastating and the fall-out hard to contain.

Whether you choose to subscribe to a third-party identity theft protection service or simply want to take some basic steps to help protect your privacy and finances, here are some suggestions.


ACTION
REASON
Deleting FilesShed the unwanted risk of computer files you no longer need by deleting excess clutter.
Create Strong PasswordsNo two passwords should be the same. Passwords should be -8-12 characters, random strings of upper and lower-case letters, numbers, and symbols.
Avoid Public WIFIDon’t use WIFI for sensitive transactions; assume all your activities are being monitored. Use a Virtual Private Network (VPN) service, which encrypts your transmissions. Make sure your home WIFI is secure.
Don’t Click At RandomHackers put out links to lure people into clicking, to trigger a virus or spy download. When in doubt, don’t click.
HTTPSIf you visit a website that has “https” that indicates that it is a Secure website, with server encryption software to protect communications. If the website has “http” instead, it means that it is not secure, but it does not mean that it is malicious.
Anti Spyware & MalwareRun Anti-Spyware & Malware software on your computer frequently, to keep things clean.

Credit Repair | Identity Theft

Frequently Asked Questions

Consumer Credit Basics

Convenience – Credit cards are a widely accepted form of payment and relatively safe versus cash or checks.

Leverage – If you are not satisfied with a product purchase using a credit card, you normally have the option of canceling and refusing payment.

Interest free loan – Most credit cards have about a 25 day period where no interest is paid on the balance.

Emergency Spending – Credit cards provide a ready source of credit for unexpected expenses.

Expense Tracking – Your credit card purchase are monthly summarized for your review and budgeting.

A secured credit card means that a security deposit has been set up to guarantee payments using the credit card. The amount of your security deposit is the credit limit for the secured credit card. This type of card is used by those that need to establish a credit history of consistent, on-time account credit payments.

A grace period is the amount of time after a due date of a bill before late fees are applied.

When you default on a loan to fail to make timely payments or follow other terms of the loan. When a borrower fails to make any payments due, it is referred to as a monetary default. When a borrower fails to follow through on any other terms of the debt, it is referred to as a covenant default.

Bankruptcy is the term that describes the legal court process a person must go through to relieve the debts they are unable to pay their creditors.

A late bill payment needs to be 30 days old before it will appear on your credit report. However, even if your late payment does not appear on your credit report, you will likely experience late fees and interest charges.

Late payments (30 days or more after due date), collections and foreclosures will remain on your credit report for seven years. Bankruptcy judgements will remain on your credit report for ten years.

Credit bureaus do no approve loans. Your perspective loan lender can request from the credit bureau your credit report to review as part of the application process. Credit bureaus do not make lending decisions. They collect consumer credit data to produce credit reports.

A lien holder is an institution, like a bank, that has the right to take and hold or sell the property of a debtor as security or payment on a debt or loan borrowed from them.

Debt consolidation is the process of combining multiple debts into one larger debt that can often lower payments and interest rates.

APR stands for Annual Percentage Rate, a term normally used with consumer loans. An APR includes the costs associated with obtaining the loan: interest rate, points, origination fee that you will be paying annually. The APR is used a means of comparison with like loan products.

Consumer Credit is simply the ability for a consumer to be able to borrow money in order to purchase a product or service. Borrowed money can take many forms, such as credit cards for product purchases. a student loan, a personal loan, car loan or home mortgage.

Most likely your credit report has errors.

The Federal Trade Commission reported in a study conducted in 2012 that 26% of the credit reports they analyzed had errors. Of those with errors, 5% who disputed these errors increased their credit scores at least 25 points. That is a significant change in a credit score.

You should not assume that your credit reports are completely accurate.

No. Your credit report is independent of your spouse. The same is true of your credit scores. However…

A lender will likely take into consideration both of your credit reports when deciding on a home mortgage, for example. If your credit report is bad and your spouse’s good you may find that the loan, if approved, has a higher interest rate than if both were good.

It certainly can. Many employers will do a credit check of a potential employee to determine the stability of the job candidate. For job positions that entail financial responsibility, it is most likely you would experience a credit report check.

This means that the issuer of the credit card has verified with a credit bureau that you meet its credit criteria and has pre-approved you as a quality candidate for its product.

However you will still need to apply in order to actually receive a new credit card. You may or may not be accepted once you have formally applied.

This simply means that the credit card issuer will make a quick decision about your application. Generally only those with good to excellent credit will receive rapid approval.

In the US, you need to be 18 years old to get a credit card using your credit history. You however can be listed as an authorized user by your parents.

There is a saying: “Everything in life is negotiable.” That also applies to your credit card interest rate.

If you have been consistently making on-time payments on your credit card for a period of time, it is worth a call to your credit card issuer to see if they can reduce the interest rate. It is a competitive market and it might be worth your card issuer to reduce the APR to not lose your business. If not, you might want to take advantage of an offer from another card issuer, since it is a competitive market.

Also you can consider opening a balance transfer credit card, with a lower interest rate, to move your existing credit card balance to the new card. You need to make sure that the balance transfer card, after the customary promotional period, offer you a competitive APR.

Credit cards offer much more protection against theft and fraud for online purchases. In case of a buyer dispute, the funds have already left your bank account. That is not the case if you use a credit card.

Keep your debit card for local purchases, when it is more convenient than carrying lots of cash. Use your credit card for online electronic payments.

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Consumer Credit Basics

Convenience – Credit cards are a widely accepted form of payment and relatively safe versus cash or checks.

Leverage – If you are not satisfied with a product purchase using a credit card, you normally have the option of canceling and refusing payment.

Interest free loan – Most credit cards have about a 25 day period where no interest is paid on the balance.

Emergency Spending – Credit cards provide a ready source of credit for unexpected expenses.

Expense Tracking – Your credit card purchase are monthly summarized for your review and budgeting.

A secured credit card means that a security deposit has been set up to guarantee payments using the credit card. The amount of your security deposit is the credit limit for the secured credit card. This type of card is used by those that need to establish a credit history of consistent, on-time account credit payments.

A grace period is the amount of time after a due date of a bill before late fees are applied.

When you default on a loan to fail to make timely payments or follow other terms of the loan. When a borrower fails to make any payments due, it is referred to as a monetary default. When a borrower fails to follow through on any other terms of the debt, it is referred to as a covenant default.

Bankruptcy is the term that describes the legal court process a person must go through to relieve the debts they are unable to pay their creditors.

A late bill payment needs to be 30 days old before it will appear on your credit report. However, even if your late payment does not appear on your credit report, you will likely experience late fees and interest charges.

Late payments (30 days or more after due date), collections and foreclosures will remain on your credit report for seven years. Bankruptcy judgements will remain on your credit report for ten years.

Credit bureaus do no approve loans. Your perspective loan lender can request from the credit bureau your credit report to review as part of the application process. Credit bureaus do not make lending decisions. They collect consumer credit data to produce credit reports.

A lien holder is an institution, like a bank, that has the right to take and hold or sell the property of a debtor as security or payment on a debt or loan borrowed from them.

Debt consolidation is the process of combining multiple debts into one larger debt that can often lower payments and interest rates.

APR stands for Annual Percentage Rate, a term normally used with consumer loans. An APR includes the costs associated with obtaining the loan: interest rate, points, origination fee that you will be paying annually. The APR is used a means of comparison with like loan products.

Consumer Credit is simply the ability for a consumer to be able to borrow money in order to purchase a product or service. Borrowed money can take many forms, such as credit cards for product purchases. a student loan, a personal loan, car loan or home mortgage.

Most likely your credit report has errors.

The Federal Trade Commission reported in a study conducted in 2012 that 26% of the credit reports they analyzed had errors. Of those with errors, 5% who disputed these errors increased their credit scores at least 25 points. That is a significant change in a credit score.

You should not assume that your credit reports are completely accurate.

No. Your credit report is independent of your spouse. The same is true of your credit scores. However…

A lender will likely take into consideration both of your credit reports when deciding on a home mortgage, for example. If your credit report is bad and your spouse’s good you may find that the loan, if approved, has a higher interest rate than if both were good.

It certainly can. Many employers will do a credit check of a potential employee to determine the stability of the job candidate. For job positions that entail financial responsibility, it is most likely you would experience a credit report check.

This means that the issuer of the credit card has verified with a credit bureau that you meet its credit criteria and has pre-approved you as a quality candidate for its product.

However you will still need to apply in order to actually receive a new credit card. You may or may not be accepted once you have formally applied.

This simply means that the credit card issuer will make a quick decision about your application. Generally only those with good to excellent credit will receive rapid approval.

In the US, you need to be 18 years old to get a credit card using your credit history. You however can be listed as an authorized user by your parents.

There is a saying: “Everything in life is negotiable.” That also applies to your credit card interest rate.

If you have been consistently making on-time payments on your credit card for a period of time, it is worth a call to your credit card issuer to see if they can reduce the interest rate. It is a competitive market and it might be worth your card issuer to reduce the APR to not lose your business. If not, you might want to take advantage of an offer from another card issuer, since it is a competitive market.

Also you can consider opening a balance transfer credit card, with a lower interest rate, to move your existing credit card balance to the new card. You need to make sure that the balance transfer card, after the customary promotional period, offer you a competitive APR.

Credit cards offer much more protection against theft and fraud for online purchases. In case of a buyer dispute, the funds have already left your bank account. That is not the case if you use a credit card.

Keep your debit card for local purchases, when it is more convenient than carrying lots of cash. Use your credit card for online electronic payments.

Load More

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