Identify Theft Before It’s Too Late
Many people fail to identify theft until they suffer a major blow to their finances. By that time, there will be very little they can do – if at all – to redress the situation. There are many people who have spent precious years of their lives repaying loans that they never took out, and building their credit score to a decent index. You can identify theft early and avoid a lot of grief if:
* You get your bank to send you alerts whenever your account has been debited by any amount. This will help you keep tabs on your money pretty accurately.
* Keep a low ceiling on your credit card expenses, and require special permission to extend that ceiling
* Use only electronic statements instead of paper ones
* Ensure that you dispose of your ATM stubs safely – preferably using a shredder
* Obtain your credit report on a quarterly basis, and carefully scrutinize it for mismatches that will help you identify theft
