Identity theft can be a crippling event. It can take months or even years to fully recover and deal with the effects of identity theft. The best way to deal with identity theft is to prevent it from happening. You can do this fairly easily. You just need to be more aware of what you are doing with your personal information.
First protect your social security number and other identifying information. If you live with roommates, you need to keep it in a place where they will not be able to access the information. If you carry your social security number with you at all times you are increasing the chance that it will be stolen while you are out.
Second be aware of what you are throwing away. It is much safer to shred old bank account statements and other information than to just put it out in the trash. If you are storing these old statements, you should keep them in an area where others cannot access them.
Protect yourself from phishing scams. These can take place over the phone or the Internet. Someone will contact you claiming that there is a problem with your account. Then they will request information such as your social security number, in order to verify who you are. The information they get will give them the chance to steal your identity. Over the Internet, they will direct you to a false sign in page, and steal your I.D. number and password, and then gain access to your information.
Regularly check your credit report. You should check your credit report annually. You can do this for free once a year. Since you have access to three reporting agencies, you can rotate through each of them, and check one every four months. The sooner you catch identity theft, the easier it is to stop and reverse the effects of it.
Consider purchasing identity theft insurance. This insurance is designed to help you deal with the banks and credit card companies once your identity has been stolen. They also monitor your credit report very closely. You should look for a plan that will help you to deal with the creditors specifically, as some plans do not offer that protection.
Once you have discovered your identity has been stolen, you need to file a police report immediately, even if it was a family member. This is necessary to begin disputing the fraudulent claims with the bank and credit card companies.
