Filed under: Identity Theft Prevention | Tags: identity theft, stolen purse, stolen wallet
Identity Theft is a crime that affects 9 million people each year in the US. The average victim spends over 175 hours trying to remedy the effects of this crime. When it comes to Identity Theft, being prepared can save you time repairing the problem if you are an unfortunate victim.
First, if you don’t check your credit report at least every four months, I advise you to do so. You can obtain a free credit report once per year from each of the three major credit bureaus at www.annualcreditreport.com. If you space out the reports, every 4 months you should be looking at a free credit report from one of the three credit bureaus.
After reviewing the credit report, save a copy in a safety deposit box or fire proof safe. This preserves a record of what your credit looks like today. In the event of identity theft, the problem will be easier to repair if this record is available. Every four months when a new credit report is obtained, it is added to the safety deposit box. After one year, three credit reports will be stored. When the fourth report is obtained, replace the last report from that bureau with the new report. This way, you always have the most current three credit reports available. Make sure to shred discarded reports.
Additionally, copy everything in your wallet (front and back) and any credit cards, social security cards, medical cards etc that may not be in your wallet and keep that information in the safety deposit box with your credit report. Make sure you label the copies from your wallet. In the event your wallet or purse is stolen, you have an immediate source of valuable information about what exactly is in the hands of the thief. You also have the 800 numbers of all the credit card companies. You can immediately call them and let them know of the theft. Update this photocopy at a minimum once a year. It’s best to be prepared in the event it happens to you.
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