There are plenty of identity theft services out there. For $10 or $15 per month, they’ll help to make sure that your identity isn't stolen.They primarily do this by monitoring your credit report to make sure there is no suspicious activity. The problem is it’s too late once you find a problem on your credit report. The best way to protect yourself is to take a proactive approach to make sure you are protecting your information, and to also monitor your reports.
These tips from US Reports will help you protect yourself regardless of whether you decide to use a service or not.
Your Mail:
Securely dispose of any mail or old credit cards by cross-shredding them. To cut down the amount of shredding you’ll need to do, opt out of credit offers at OptOutPrescreen.com . If you’re mailbox is easily accessible by others, it might be a good idea to use a PO BOX for any sensitive information (bank statements, bills, insurance documents etc).
Your Computer:
Make sure your computer is protected with anti-virus software and run regular checks. Keep any passwords in secure places, change them often, and make sure they are complex and not easily guessed. Combinations of numbers and letters are ideal, and easily remembered if you use anagrams (Ex: Consumer United 4 Life 2 Lower Monthly Bills is Great= CU4L2LMBIGr8).
The unfortunate reality is that, even with these precautions in place, your identity still can be stolen. On top of preventative measures, keep an eye out to make sure nothing has happened. The sooner you catch an issue, the less likely it is that it will become a major issue.
Monitor Your Credit:
You can review each of your three credit reports once annually for free at www.annualcreditreport.com . If you check one agency each time and spread it out over the course of the year, you’ll get a snapshot every 3 months. Although sometimes information will show up on one credit report and not another, you’ll likely see any major or continued abuse on all three.
Identity Theft Services:
They can help monitor your credit report (often all three bureaus and monthly). If you do opt for the protection of a service, make sure you’re not paying for something you already have through your credit card or even auto insurance carrier. Make sure that they monitor all three reports and ask about what help they provide if something did happen (a suspect entry on your report, a lost wallet).
Check your Home Insurance:
Homeowners or renter’s insurance usually provides an endorsement that will reimburse you for identity theft, up to a given amount. Coverage varies by insurance carrier, but is often included or only a few dollars per year.
Javelin Strategies, an independent research firm, reports that a reported 11.1 million Americans were affected by identity theft in 2009. By using this two-fold approach of limiting your exposure, and monitoring to catch issues earlier, you’re less likely to become part of this growing problem.
--Lana Petersson
