Debt Burst Announces Tips For Preventing Identity Theft
Reno, NV, November 2, 2010 -- Identity theft has reached epidemic numbers. According to Federal Trade Commission (FTC) statistics, in the U.S. alone there’s a new identity theft victim every four seconds. It may therefore be more a matter of when and not if it happens to someone.
Becoming a victim of identity theft or some other type of credit fraud can be an extremely stressful and costly experience if not handled swiftly and correctly. Although the victim may be protected financially, correcting the problem will still likely require a significant amount of time on their part.
It’s estimated that victims of identity theft must make a time investment of between 175 and 600 hours or more to recover their good names and clear the incident from their records.
So, how can someone determine if their identity has been stolen? There are a number of telltale warning signs that they should watch for, such as:
- Their credit reports list new credit cards issued in their name that they never applied for or received.
- Their credit reports list information about accounts that they didn’t open and know nothing about.
- They might notice charges on their monthly credit card- or bank statements that they didn’t authorize.
- They might stop receiving monthly credit card statements or important bills altogether.
- They might receive bills from companies with whom they’ve never done business.
- They might receive phone calls from creditors or collection agencies concerning accounts that they know nothing about.
It is important to take immediate action as soon as one becomes aware of identity theft or some other type of credit-related fraud. They should contact their creditors and bank immediately to inform them of their suspicions. If they’ve had a credit card lost or stolen (or they notice potentially fraudulent charges on their statement), they should report it immediately to the card issuer. Also, file a report with the local police department and obtain a copy of it. Collect and safeguard all documents, such as the credit reports, monthly statements, or other written information that relate to any suspicion. And if they believe someone is fraudulently using their Social Security number, notify the Social Security Administration.
Fraud victims should change the passwords, PINs and account numbers of all the ATM/debit and credit cards and their bank accounts. Contact the Fraud Victim Assistance department at each of the major credit reporting agencies and request that a “Fraud Alert” be placed in their credit file. Once this is done, creditors will be instructed to take additional steps to verify the identity before granting them (or someone impersonating them) any more credit.
Regardless of the statistics, remain vigilant. One of the best ways to prevent identity theft is to subscribe to a credit monitoring service, as it notifies within twenty-four hours whenever any type of change is made to the credit report. Thus, if someone uses a person’s identity to apply for a credit card or any type of loan or credit account, the person will find out about it almost immediately and be able to take appropriate action before it’s too late.
About Debt Burst
Debt Burst creates programs for clients seeking both debt management and debt settlement debt relief solutions. They work with the clients to understand their needs and customize a plan to fit the client’s financial situation. With over 20 years of experience and commitment to the clients, Debt Burst helps clients manage their finances, take control of their lives, create a secure financial future and most of all become debt free. We are recognized leaders who have gone beyond the normal debt management and debt settlement services to offer assistance for our customers to maintain a debt-free and rewarding life. We are committed to excellence and strive for outstanding customer service and support. We’ve helped over 40,000 clients and settled over $1 million dollars of debt over the past three years.
Checkout what Debt Burst has to offer and learn more about our services at www.debtburst.com or call Debt Burst Today at 800.656.6204
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- Sam Magi
- Debt Burst
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