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Credit Reports
Types of Credit Reports:
-Single
-3-in-1
-Credit Monitoring System
-Free Credit Report
Credit
Report Basics:
-Ordering
a Report Yearly
-Common
Questions
-Determining
Scores
-Interpreting Reports
-Disputing
Errors
--more
basics
Credit Achieving Tips:
-Improving
Credit Scores
-Building Credit
-Re-building
Credit
Credit Scoring Blunders:
-Late
Payments
--more
mistakes
Identity Theft:
-Identity Theft Basics
-Resolving
-Preventing
-Credit
Card Theft
-Kids
& Identity Theft
-Seniors & Identity Theft
-Internet Phishing
-Privacy Questions to Ask
Mortgages
Auto Loans
Personal Loans
Debt Consolidation
Credit Cards
Home
-Taxes
-Managing Money
-Credit Help
-Checking Accounts
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SENIOR CITIZENS AND IDENTITY THEFT
Senior citizens are one of the most vulnerable groups
to becoming victims of identity theft. This article
contains valuable information that will help seniors
prevent themselves from becoming sufferers of identity
theft by teaching the, how to stop fraud and detect it
early when it occurs.
** It was reported by Experian that over 11% of people
over the age of 65 reported that some sort of financial
information/records were stolen from them last year.
Why are seniors one of the top victims of identity
theft?
There are several reasons:
-- Seniors typically have greater cash
reserves and
home equity than others.
-- They are not 'up on the times', leaving them vulnerable to modern
scams.
-- Seniors usually do not obtain a copy of their credit report regularly
or monitor their financial accounts.
-- Assistants and retirement home workers often have access to the
personal records of seniors, resulting in them taking
advantage of their clients.
What happens when a senior citizen becomes a victim
of identity theft?
Identity thieves will empty bank accounts. They will
also incur tremendous amounts of credit card debt, apply
for loans, refinance their victim's homes, obtain cell
phones and/or other services, etc..
How does the crime of identity theft occur?
Identity thieves are extremely aggressive and
relentless in their pursuit of personal information.
Below are some of the more commonly used tactics.
-- Phone scams – This is when
thieves will act as a charity, credit card or insurance
company, etc.. They will ask for personal information to
verify accounts. They will then use this information for
their own personal, illegal use.
-- Dumpster diving – This entails going through garbage,
looking for personal paperwork.
-- Record theft – When any form of medical, Social Security
or other personal records are stolen.
-- Wallet theft – Many seniors carry too much information
with them, i.e. Medicare and
Social Security cards.
-- Personal theft – When a nurse or other sort of employee,
friend or relative steals from your home or has access
to compromise accounts.
-- Internet scams – Bogus emails requesting information
about personal bank accounts, credit cards, etc..
Preventing identity theft for seniors:
There is no 100% guarantee means for preventing
identity theft. Below are some easy tips to follow that
will help eliminate your chances for become a victim. In
addition to the information below, you should examine
the section on
preventing
identity theft.
-- Never provide any personal information via a phone call unless you are
the one that imitated the call.
-- Never carry your Medicare or Social Security card with you.
-- Make you research any charity before making a donation.
-- Lock-up all sensitive documents in a safe in your house or in a
safety-deposit box at your bank.
-- Use a paper shredder to destroy any mail, paperwork or documents
instead of just throwing them in the trash.
-- Review your credit and financial records frequently. Learn more about
the 'importance
of getting a copy of your credit report once a year'.
What should I do if I become a victim of identity
theft?
You must report the crime immediately. Please visit
the section on 'What
to do if You Become a Victim of an Identity Thief', to learn
more about how you can stop further crime from occurring
and reduce the impact of the crime that has already
taken place.
Related
Reading for seniors:
It is always very smart that you
protect your social security number. Also, there are
only a few instances when
someone can demand access to your SSN.
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