Have you heard about identity theft crime yet? Are you prepared for it? Yes, I know most people will groan inwardly saying, “Oh heck, I’m not living under a rock, buddy!” At the same time, you may be surprised that 7 out of 10 people today have their computers hacked, have their identity stolen, or are victims of some or other identity theft crime.

How does this happen, when you say you are aware of it? Aren’t you taking measures against it?

This happens because you let your guard down, safe in the knowledge that you know about the dangers. What happens actually is that in your belief that you are smart enough not to be trapped or victimized by identity theft crime, you allow yourself to be casual about it.

The moment you are casual about the identity theft crime  – that is the exact time when you are most vulnerable against it. Beware – and stay safe.

A majority of the people who were listed in her email contacts were sent a letter in her name saying that she was stuck in London (she is a PhD from London) and she needed about $2,000 to pay her hotel bills. Most of her close friends, who knew her whereabouts, realized that this email was a fake. However, there will be a good number of these people who will want to send her the money so she will be bailed out from her troubles. She will then be responsible for the repayment.

Beware of any such emails that ask you personal information or your user id and password.  You might be the next victim.

  photo credit: TheTruthAbout…

 Opening a checking out is out of your reach

• You are unable to find approval for your car loan without a co-signatory
• Your phone rings incessantly and it is always about the payment of some bill (which is overdue)
• You are unable to find someone wiling to be your reference for any financial transaction
• You are unable to qualify for a regular credit card; the only one you can have is a secured credit card
• You pay the credit card bills of one card with another, and vice-versa
• You are seriously considering bankruptcy
• You are taking loans to pay for basic necessities
• Your monthly paycheck does not last beyond the first week
• Most of your groceries come from coupons 

Take Action Now

 Look carefully and truthfully take a tour. If you recognize yourself in this scenario, it is time to take some serious action:

 Get in touch with a reputed credit repair company – your credit score should be watched over with eagle’s eyes. Every entry is important and the sooner negative remarks are contested the better for you. Retain a reputed company, which are affiliated to ethical bureaus such BBB and ECRA (Ethical Credit Repair Alliance). This will assure you of superior quality services at prices that leave you satisfied. 

 Consider debt consolidation – credit repair and debt consolidation are separate action plans, true. However, they can complement each other easily so you can get the best out of it. Debt consolidation, though initially pulls you down, if you maintain the regime it would soon show you as a winner. That coupled with credit repair concise and precise action can improve your credit score immensely.

Avail counseling – you would not think that counseling is really something you should concentrate upon when you want a better credit score. You will be surprised to know that counseling can be immensely beneficial because: (i) it teaches you how to arrest extraneous expenses, (ii) use your money optimally, and (iii) avoid debt traps. 

Awareness coupled with right action would be the best medicine when you find yourself in any type of financial crisis. Educate yourself on both its causes as well as the best remedies for it.

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