Protecting Your Credit and Good Name
You’re excited because you are about to apply for a mortgage on your very first home. The house is exactly what you and your family have been looking for, the perfect neighborhood, great schools, easy commute to work, and just the right house to meet all your needs. You know you have great credit (at least you think you do). So you go to the bank, fill out all the paperwork, provide all the documentation, and the loan officer smiles very approvingly at your application because everything is in order and looks complete. No problem here he’s thinking as he walks away to submit your paperwork.
So you wait anxiously the next day for the approval. The loan officer calls and says, “I regret to inform you that your mortgage application has been denied because of your poor credit rating.” What? You’re stunned, you can’t believe it! What happened? Your identity has been stolen and compromised!
Identity Theft Affects The Quality Of Your Life
This is a sad but all too true everyday reality. Thousands of unsuspecting people who do not have any identity theft protection will have their good name and credit ruined by thieves. This not only affects the ability to secure a mortgage, but it also effects any kind of loan that will prevent you from getting a car loan, student loans, credit cards, and the list goes on! If you ever need to apply for a Government security clearance, that will be a problem too! Protecting your good name and credit is so important in today’s society. We live in a cyber-world now where information moves at lightning speed. And identity theft is a growing concern and a by-product of the high tech internet.
Protecting your bank accounts, credit cards, Social Security card, driver’s license information, and anything with you identity attached to it has become so vitally important today. With so much business being conducted now over the internet including transactions that include personal information, an unprotected identity is just ripe fruit waiting to be plucked by a skillful and mischievous identity thief.
The Long Term Effect of Identity Theft
As previously stated, Identify Theft will impact the quality of your life immediately. But also Identify Theft can have a long term effect on your life and may take months, even years to correct and repair your credit and good name. The laborious effort that is involved to contact all the credit agencies, banks, government offices, and other institutions that have your personal records can be overwhelming and intimidating. This ripple effect can be devastating!
In one case, a Kansas City man who had his identity stolen, received a summons to appear in court on a drunk driving case and leaving the scene of an accident; there was also a warrant out for his arrest! When the man went to court, the traffic cameras proved it was it a completely different person. Someone had used his identity to get a driver’s license and then had a car accident involving drunk driving. It took months and months to clear his driving record and notify his insurance company. The time involved was grievous not to mention how much time he had to take off from work, the time it took to organize all his records, and the hours he spent in court
What Can You Do to Prevent the Impact of Identity Theft?
There are some activities you can do now to prevent the devastating impact of identity theft. Once you know your identity has been compromised, the first thing you should do is to contact your bank and credit card companies to report an identity theft incident. This will alert your financial institutions to freeze your existing accounts so that the possible damage can be minimal.
The next thing you should do is order a copy of your credit report and read through it looking for any discrepancies, unusual activity, or just plain errors. Also, check to make sure your name, address, social security number, and any employer information is all correct.
If fraudulent charges have been made against your credit cards or even using your name, acquire copies of the transactions to use to present to businesses and credit card companies to document your stolen identity and to refute the charges.
But, what you can do to prevent all of this and avoid the heartache, pain, suffering, and laborious hours of research due to an identity theft incident is to sign up with LifeLock© today! With LifeLock© state of the art monitoring tools, quick response, and excellent track record, you can have peace of mind knowing that your identity is protected, safe, and secure! Click on the LifeLock© image below to sign up and begin to have your identity locked down and secure!