***The Secret to Avoiding Identity Theft

Cleaning up the mess left behind by crooks and fraudsters can be costly, time consuming and enormously frustrating. nnSo what is the secret to avoiding an identity theft? It’s simple: plan for one!nnIt’s important to heed the danger warnings for identity theft. It has become increasingly difficult to avoid predator scams and data breaches. Here in a coastal state of Florida during hurricane season we are accustomed to heeding danger warnings and taking precautionary steps to lessen the impact and effects of a hurricane as best we can. We stock up on water, batteries, and food. We board up windows and batten down the hatches. We understand we can’t control the weather and know the best we can do is be prepared. The same can be said about identity theft. We can’t control whether or not we face an identity theft, but we can be prepared for it.nnTaking precautionary steps and becoming a prepared and savvy consumer with a plan of action to lessen the impact is the best we can do. The odds that a thief will one day get their hands on your personal identifying information are sobering. As of today, an identity theft occurs every 3 seconds and data breaches occur daily.nnThe Identity Theft Resource Center, a non-profit organization established to support victims of identity theft in resolving their cases, recently released their findings in their 2008 Data Breach Report. Brace yourself, it’s not great news. Data breaches reported in 2007 tallied up at 446, but in 2008, the number of reported breaches spiked to a whopping 646. That’s a 47 percent increase! Sadly, these trends continue to plague corporate entities and government agencies alike, despite education on safer data storage, new laws and stricter regulations. nnToday’s identity thieves are technologically-savvy and continue to find high-tech ways of tapping into victims’ finances and hacking into large databases. If we want to avoid falling victim to their innovative tricks and traps we must become savvy consumers too. Remember, we don’t always know –what it is we don’t know, until someone tells us!nnHere are three simple tips to help you take control of your identity—before someone else does.nn1. Regularly monitor your credit reports nnOrder your free annual credit reports from the officially designated place. To get your reports from all three bureaus you can use the toll free automated line 877-322-8228 or go to annualcreditreport.com. You can obtain all three credit reports at once, or stagger them and order one from each of the three major credit bureaus (Equifax, Experian, and TransUnion) every few months. Take a close look at your reports and check for any activity that seems to be unusual or fraudulent. Anything that is inaccurate—including middle initials, inaccurate employment notations, and inaccurate addresses—should be disputed via certified mail. nn2. Place fraud alerts or a credit freeze on your credit filennThese options can be a first line of defense if you learn your wallet, purse, social security card, or passport has been lost or stolen, or if you think you may be a victim of identity theft. nnA fraud alert is something that the major credit bureaus attach to your credit report that advises lenders to contact you by phone to verify that you really want to open a new account whenever you, or someone else, tries to obtain credit. Fraud alerts need to be re-activated every 90 days.nn A credit freeze bars lenders—and you—from access to your credit history. Because few lenders will issue credit without first seeing a credit report, identity thieves can't open fraudulent accounts using the name of someone who has frozen their credit reports. Be aware, though, if you are planning on purchasing a car, refinancing your house, or obtaining credit of any kind, a credit freeze can be a burden, as you will need to pay each bureau to freeze your credit and thaw it again for use. nn3. Have a Plan of ActionnnIf you’re as busy as most of us are, you probably can't commit to staying on top of the preventative steps required to protect your identity. And you most likely won’t want to be left on your own to recover your identity should you learn you’re a victim of identity theft or data theft. If that’s the case, do what I did and hire someone to do it for you. I hired LifeLock to safeguard my identity because I value my time and my identity. If my wallet is lost, my information is compromised or my identity is stolen, rather than panicking and facing hours of phone calls, notifying creditors and writing letters to the credit bureaus, I make one phone call to LifeLock and pass that burden off to them. nn