Free Annual Credit Report

Imagine waking up one morning, logging onto to your bank’s website and discovering that thousands of dollars have mysteriously disappeared. As your mind reels, your phone begins to ring. You answer to hear the gruff voice of a creditor demanding the money you owe his company (surprising since you pay all of your bills in a timely manner). Over the next several days, your mailbox begins to fill with creditors’ letters. Your annual credit report starts to reflect negatively as your credit score and FICO score decline. Your phone rings during all hours as creditors relentless follow up.

Preventing Identity Theft

It begins to dawn on you. Someone has stolen your identity. Somebody has used your credit. They’ve begun to destroy the financial stability you’ve worked hard to build.

The nightmare described above is similar to what happens to thousands of people every single day. By taking the right actions, you can avoid having the same things happen to you. You can prevent your identity from being stolen. Identity theft protection requires a level of vigilance. Below, we’ll give you a few quick, easy-to-do-today steps to prevent your identity from being stolen.

Prevention Begins At Home

Most of us can’t imagine others going through our trash. In reality, identity thieves find a massive amount of sensitive information in dumpsters and trash cans. To prevent them from getting their hands on your social security number and other confidential data, shred the papers that you discard. You can purchase a small shredder for your home for under $50 (a small investment for peace of mind).

Being Savvy With Your Passwords

While managing our banking, free credit reports and credit card accounts is convenient online, it presents a potential breach of security. That breach is something we can easily prevent. Most people choose passwords for their accounts that are easy to remember. A birthday, pet’s name, or even the city in which they live are often used because they’re easy to recall. That makes your passwords easy for a thief to guess. Identities are often stolen by those whom we know. If somebody knows your child’s name, using that name as a password is foolish. Instead, use random strings of characters. They’re practically impossible for an identity thief to guess.

Phishing: Don’t Be Lured

Email and spam have caused millions of people to unwittingly provide their passwords to identity thieves. Here’s how it works (there are many variations): you receive an email that appears to have been sent by your bank. The email describes a security breach. It requests that you change your password. You click the link in the email and arrive at a website that looks like your bank’s website. In order to change your password, you’re requested to first enter your current password.

Once you do, you’ll have been “phished.” The email wasn’t sent from your bank. The link that you clicked didn’t deliver you to your bank’s website. Instead, you’ve given your password for your account at your bank to an identity thief.

When You Need Help

Reviewing your credit report and the statements you receive from your bank, credit cards, and other businesses can be time-intensive. Plus, the busier our lives become, the less inclined we’re willing to spend our free time analyzing our financial lives. You can prevent your becoming an identity theft victim. However, if you prefer to spend your free time with your family, there are other options. Companies such as LifeLock exist to take the laborious chore of securing your identity off your plate. For thousands of people, this option provides them with the free time they need and the peace of mind they desire.