The threats involved in identity theft can include opening a new credit card account, using your name, date of birth, and Social Security number. When they use the credit card they don't pay the bills, the delinquent account is terminated and is reported to your credit report. They call your credit card issuer and, pretending to be you, change the mailing address on your credit cad account. The imposter then runs up charges on your account. Because your bills are being sent to the new address, you will not immediately know there is a problem. They establish cellular phone service in your name and again don't pay the bill. They open a bank account in your name and write bad checks on that account. All while you have no idea of any of these actions transpiring. With a person's name, social security number and date of birth, someone can get loans, access the person's existing bank accounts, open new bank accounts, lease or buy cars, get insurance, you name it. Think about the things you throw in the trash. Even pay stubs you throw away once you've recorded the amount in your checkbook. There is a lot of important information on that seemingly unimportant piece of paper. It could include your full name, your address, your social security number, your complete bank account number if you have direct deposit, your employer and address and your salary. This type of information can be provided to get a credit card or a loan or lease a car. There is very little additional information that is needed in order to get that loan. .
In order to prevent identity theft from happening to you here are a few simple steps you can follow to help protect yourself. Ask stores at which you are applying for credit how they safeguard credit applications. Ensure that they are treated as secure documents. Ask businesses how they store and dispose of credit card transaction slips. Ensure that proper safeguards are in place to treat these documents securely.
