I'm Too Careful To Need Credit Fraud Protection Services
Credit theft is one of those things that we never think will happen to us
. We take care of our cards properly.
Certainly, that's what my colleague thought, and he was totally unaware that anything was wrong. By then, all the damage had been done. Without any support from an
identity fraud protection insurance policy, he was on his own to pick up the pieces. It took almost a year before he felt confident that all he personal details were OK again, and everything was as before.
The problem was that he was one of the people in a high risk group he had just got new residents living in the apartment below who had access to a shared mailbox.
So it was simple for them to pick up a few bank statements by accident. This made it simple for the thief to set up new accounts and start spending before the alarm was raised. It wasnt until he happened to pick up a letter about an account he had not set up that he got suspicious.
So, after the authorities got involved, he got a new locked mail box, spoke to banks, credit card companies, credit agencies and all sorts of other people to try and sort out the mess it all took up far too much time. Apart from the major stress it caused that went on for weeks, and the hours of work trying to sort out the mess, I suppose that he was quite lucky. At least the fraudster was caught and he didn't lose too much money, but it was a saluatory lesson.
Others are not so lucky and end up losing a lot of cash. So, just because it hasn't happened yet, don't assume it won't, and bury your head in the sand.
Your good credit rating has amazing value, so it needs to be protected. With a good credit rating, it is quite easy to get a new phone or a new credit card and spend a load of cash in a very short time. If you are unlucky and your details are passed on to others they can be used for all sorts of on-line transactions right across the world.
Most banks fortunately will not charge you too much of you can demonstrate that there are a lot of fraudulent transactions on your account within 60 days. But the fact that you feel violated and have to spend hours on the phone sorting out the mess is more of a problem than the financial loss.
Even simple tasks like shredding your paper trash if it contains your name, address, bank or credit card details can make you less susceptable to the opportunist thief.
One of the more worrying aspects of ID theft is that many of us give our personal details away on Social Networking sites With lax security settings, you can give away your name, address, date of birth and location to almost anyone without even realising it. If all your friend's friends can see your personal information, it might as well be available to everybody.
Don't imagine that you are immune, over 9 million American people had their personal details compromised last year alone.
If you don't want to take out ID fraud insurance, there are things you can do yourself.
It will definitely be too late to do anything afterwards.
It is wise to get it sorted out now.
by: Dave Turner
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