What You Need to Know About Identity Theft to Protect Your Credit Report

What is identity theft? Identity theft is when an imposter is using your personal information for his own use. He may be using your name, social security number, credit card, checks, etc. As a result, he's damaging your credit. Most of the time, your not aware for weeks, or months after.

Noone is immune to identity theft. Rich or poor, it does'nt matter. Your name and social security number can be used to set up an account, for whatever the imposter wants. The Secret Service and the Federal Trade Commission says it's the fasting growing crime in the U.S. Ten million people per year are victims of id theft, it increased by 87% between 2001-2002, by 79% between 2002-2003. 85% of victims find out about the crime after being denied a credit card or recieving an unknown bill. Id theft is also one of the least convicted crimes in America (under 5% are arrested). 

Top ten worse states for id theft:
1. Arizona    6. Florida
2. Nevada   7. New York
3. California   8. Washington
4. Texas  9. Oregon
5. Colorado   10. Illinois

If your a victim of id theft, act quickly. Notify the credit bureaus. There are three that needs to be made aware. When you notify one bureau, it will notify the other two. They will flag your file with a credit alert, creditors will call you first, before giving credit. The three bureaus are: Equifax (800) 525-6285, Experian (888) 397-3742, Trans Union (800) 680-7289. The credit bureaus will mail you your rights as a victim. After recieving your rights, request a free copy of your credit report from each bureau. If you have a police report, you can request to be on fraud alert for up to seven years.