Archive for March, 2010
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March 30th, 2010 | 
Author: As more and more people use the Internet for banking, shopping and everyday interactions, danger online privacy seem only to worsen. Almost everyone has heard stories from a friend or relative, or have had their identity kidnapped or a victim of online fraud. If you want to protect your finances and your credit rating, it is important to be aware of the fact that identity theft is and what you can do to prevent it.
What is a kidnapped identity?
More than 2 million people were victims of identity theft in the United States last year. Although this figure varies depending on how to define “identity theft”, their number is increasing every year since 2000.
When the identity of the ” kidnapped ” what happens basically is that the other person uses your bank account information or Social Security number to connect to your credit to open accounts without your permission or knowledge. Because it can take months or even years before it became aware of this, there is the potential for tens of thousands of dollars to be levied in your name.
How to prevent theft
Although there is no way to completely prevent identity theft, you can use a proactive approach to monitoring your credit. This is a smart way, not only to avoid complications, but in practice, good sense of money in the future.
- The original theft could happen with any number of sources, including receipts, financial documents, mail or kidnapped wallets or purses. It is better to shred all documents containing personal information, keep your mailbox in a safe place (or block), and remove all cards from lost or kidnapped wallet at once.
- Regularly check one of the three major credit reporting agencies (Equifax, Experian and TransUnion) changes in your favor. Anything that looks suspicious, including accounts not opened, or credit you do not remember the application, must be investigated immediately.
What to do in case if your identity is kidnapped
If you find that you are a victim of identity theft, the most important thing you can do is to act quickly. The longer you wait, the greater the financial loss that will occur, and the harder it is to repair these losses in the future.
Contact your local police department. Identity theft as any other theft and it must be reported to the appropriate authorities. The sooner you get on the record of theft, the better.
Keep records of every police report you file. Financial institutions and issuers of credit cards do you undergo a rigorous process to cleanse you of charges. Maintaining good copies from the start will be important to facilitate this process.
Fill data theft under oath. These documents as well as police reports, in which it allows you to document the issue as efficiently as possible. Consider fraud prevention or monitoring service. Many of them cost about $ 5 a month, and immediately notify you of any changes in your credit ratings – such as those that you make and those made by potential thieves.
If you are a victim of identity theft, or if you are concerned about this happening to you, you can seek the assistance of financial advisor. Your adviser can help you establish a monitoring system to prevent future losses and begin to rebuild your financial situation and get you back on its feet.
Need help with financial planning – then we seriously recommend you to visit this web site with financial planning advice and other useful information.
Plus, one more piece of advice – today the Internet technologies give you a truly unique chance to choose what you need at the best terms which are available on the market. Funny, but most of the people don’t use this chance. In real life it means that you should use all the tools of today to get the information that you need.
Search Google and other search engines for financial planning systems. Visit social networks and check the accounts that are relevant to your topic. Go to the niche forums and participate in the online discussion. All this will help you to build up a true vision of this market. Thus, giving you a real chance to make a smart and nicely balanced decision.
P.S. And also sign up to the RSS on this blog, because we will everything possible to keep updating this blog with new publications about the market of financial planning products and services.
Posted in how do i avoid identity theft | 
Tags: Blog Archive, Credit Rating, Credit Reporting Agencies, Equifax, Everyday Interactions, Experian, Financial Documents, Good Sense, Mail, Major Credit Reporting Agencies, Proactive Approach, Purses, Receipts, Safe Place, Social Security Number, Thousands Of Dollars, Three Major Credit Reporting Agencies, Victims Of Identity Theft, Wallet, Wallets | 
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Ways To Prevent Identity Theft | Jim The Trucker
Everyone has heard a horror story about identity theft from TV shows or magazine articles. In the popular culture, references of identity theft are found in the novels and movies, notably Frederick Forsyth’s novel, “The day of the Jackal” and the 1995 movie “The Net.” In real life, the Identity Theft Resource Center reports 8.9 millions identity theft victims in 2006.
An identity theft occurs when somebody steals vital pieces of personal data information, e.g. your social security, credit card numbers, etc. and uses that data information for financial gains by taking your identity. The most common form of identity theft involves credit card and mortgage frauds. But it can also be used for vicious crimes like drug dealings, terrorism, etc.
You may be surprised to know that many minor identity thefts are committed by someone you know. So, don’t make it an easy job for a person to steal your personal information from your wallet, checkbook, etc. Avoid leaving things containing your personal information lying around for others to have an easy access to that information.
Shred, shred, shred. Buy a cheap paper shredder from an office supply store and shred all your paid bills, used check books, etc. before tossing those into the trash. Put aside 30 minutes every Saturday morning for shredding anything that contained your personal information that you intend to trash. Make it a habit.
Never give out your personal information like your social security number; birth date etc. over the phone when the call is received unsolicited. Your financial institutions have that information and they will not ask you for that. Sometimes, for verification purposes, they make ask you the last four digits of your social security number.
Don’t pay anybody to get a copy of your credit report. Because of a congressional mandate, all three-credit report bureaus will give you a copy of your credit report for free every year. Go to AnnualCreditreport.com to obtain your free credit report every year from TransUnion, Equifax, and Experian. While obtaining your free credit report, these bureaus will push some paid services. You are not required to accept the offers.
Don’t get your free credit reports from the three bureaus all at the same time. Then you have to wait one year before you can get your reports again for free. In the mean time, some unwanted stuff may show up in your report. Get your free report every four months from each bureau. If you are using a PDA, password protect it to prevent others from accessing it.
Phishing is a popular method to steal sensitive information for identity theft purposes. Don’t be a phishing victim. Avoid clicking on any link that comes to your way through e-mails or IM. The e-mail will disguise itself coming from your financial institutions (your bank or PayPal accounts) and will urge you to click a link to verify your accounts or resort to such other tricks. Sometimes, it can be outright threatening. If you click the link you will end up in the thief’s website. And if you enter your user name and password, the thief will have enough information to log into your actual account.
Open online accounts for all your credit cards and financial accounts. Online accounts are not only convenient for faster bill paying, paperless transactions, etc.; they also help monitor your accounts frequently, instead of waiting for the monthly bill or statement to arrive. Monitor your accounts online every week and if you see any suspicious charges, checks, etc., call you banks immediately. Also setup e-mail based account alerts, if available, to alert you when charges are made to your accounts.
Avoid putting your outgoing mail containing bills and checks in your mailboxes for easy access by a thief. Deposit them in mailboxes located in the post office or street corners. Better yet, setup online bill payment with your bank and avoid the snail mail for bill paying.
You also need to keep your computer safe. Thieves can get into computers through spyware and unsecured wireless or network connections. Use anti-spyware programs and turn on your Windows default personal firewall program. To prevent viruses infecting your computer, use an anti-virus program. Setup accounts for each user of your computer and ask them to use strong passwords that include a combination of letters and numbers.
One way to prevent identity theft anybody, including you, from opening any credit in your name is to freeze your credit. This way is not available in all 50 states. If it’s available in your state and you opt for this option, you need to lift the block before you allow anybody, e.g. an employer for a new job, creditor for a car loan, etc., to access your credit information.
Posted in how do i avoid identity theft |
Tags: Cheap Paper Shredder, Check Books, Congressional Mandate, Credit Card Numbers, Credit Report Bureaus, Culture References, Day Of The Jackal, Drug Dealings, Easy Job, Frederick Forsyth, Horror Story, Last Four Digits, Mortgage Frauds, Office Supply Store, Social Security Credit, Social Security Number, T Pay, Vicious Crimes, Vital Pieces, Ways To Prevent Identity Theft |
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Legal | 6 Ways on How to Prevent Business Identity Theft :: By …
1. Lock up your business files.
Keep all physical business records such as customer records in file cabinets that lock.
During lunch, and when you leave at night check to make the nothing is left unsecured. Put copies of “important” business data in the safe or the security deposit box at the bank.
2. Shredding can be your friend.
All business records should be shredded. Criminals will often “dumpster dive” to get their hands on information that they can use. Only use the recycling bin for non-critical waste. If you are a small business, shredders can be bought at any office supply store. If you are much larger, there are services that will come to your place of business and shred for you.
3.) Access to the computers should be limited.
All computers on your network should be password protected. You don’t want anyone to be able to access confidential information whether they are a visitor or snooping employees. You have to determine which employees should have access and provide them with the passwords. If they have to get certain information, provide it to them on a need-to-know basis. You can always have the passwords changed in the near future.
4.) Hey Twin!
Be aware of websites that look like yours or have a similar domain name. These sites can actually be set up to deceive potential creditors.
These “spoof websites” are often created by black hat hacker hits. They can be bought for as little as $100. The criminals can download codes and images from your site and duplicate them, so that they can send usernames, passwords, credit/debit card numbers to a botnet.
There are software programs that can search the net for you. Have your IT team look into it.
5. Be aware of “The Business Bust out”
This is one of the schemes criminals use to apply for corporate credit cards using your firms name. The application will pass a credit check because there is a company name and address match. He will sell the information, and then vanish before you know what happened. Know your neighbors.
6.Install Antiphishing Software on your computers
Thieves will try to use spam email to entice you to submit your business identity to them. Please pay attention. They will also try and use money transfer tricks.
Article Source: http://www.BharatBhasha.com
Article Url: http://www.bharatbhasha.com/legal.php/227363
Article Added on Sunday, March 28, 2010
LD
Posted in how do i avoid identity theft |
Tags: Black Hat, Botnet, Business Data, Business Identity, Business Records, Corporate Credit Cards, Customer Records, Debit Card Numbers, Dumpster Dive, File Cabinets, Future 4, Hat Hacker, Need To Know Basis, Office Supply Store, Physical Business, Place Of Business, Recycling Bin, Security Deposit, Shred, Usernames Passwords |
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How to Avoid the 10 Financial literacy Top Home Refinance Mistakes
In some instances lenders may allow you to keep your existing second mortgage while refinancing only the first. This is done by obtaining a “subordination agreement” from the lender who provided you with your second mortgage.
Paying For An Appraisal When You Think The Appraised Value May Be Too Low
How to Avoid the 10 Top Home Refinance Mistakes
Make sure you understand what you are signing! Don’t be afraid to ask questions because you are entering into a long-term relationship. Be sure to bring your Good Faith Estimate when you go to sign the final papers.
You always want a written Good Faith Estimate (GFE) when securing a home refinance loan. Within three working days after receipt of your completed loan application, your mortgage company is required to provide you with a written GFE of closing costs. However don’t make the mistake of shopping for your mortgage via a simple GFE.
In fact, if the GFE has a substantial portion of the fees marked zero may be a warning sign that not all fees are being disclosed up front. Be sure to ask if all the fees are accurately reflected on the document.
NOTE: if you are considering a “no cost” home refinance many of the fees may be blank. Be sure to ask.
Not Getting Your Rate Lock In Writing
Your original lender will need the same documentation as any other lender. Each time you refinance your financial picture has to be re-verified. You will be subject to re-qualification, even if you have developed a relationship with your lender. So you might as well shop around and get a couple quotes just to make sure you’re getting the best rates and fees.
Not Getting A Good Faith Estimate
Although you may have an excellent history with your current lender, you may not always get the best deal when considering a home refinance. That’s the reason why we give you so many choices.
Don’t pay for a formal appraisal if you think the home has a low appraised value. Home value is determined by many things, including the home’s location. Both lenders and Realtors use a market analysis based on the value of homes in your area to determine value. Paying for an appraisal shouldn’t be necessary.
For example, if the costs of the home refinance total $2,000, and your monthly savings are $50, your break-even point is 2,000/50 = 40 months. In this case you should only refinance if you plan to stay with this new financing for at least 40 months.
Failing To Choose The Best Home Refinance Loan
Many lenders have “cash out” waiting requirements or “seasoning” as it is referred to in the industry. That means they want to see a set period of time elapse once you have withdrawn equity from your home prior to issuing a new loan. Cash-out followed by refinancing may indicate a pattern of irresponsible credit use; a red flag for a lender. This could lead to stricter requirements and possibly a rejection of your loan. The typical waiting requirement is six months.
Taking On A Second Mortgage Before Refinancing On Your First Mortgage
A lot of mortgage companies look at the combined loan amounts (i.e., the sum of the first and second loans) even when you’re only doing a home refinancing your first mortgage. Don’t be surprised if your first mortgage lender requires you to pay off both your first and second mortgages. Check with your lender to see if having a second loan will impact your refinancing.
As soon as possible, request a copy of the home refinance loan documents in order to review what you will be signing at the close of escrow. This way you can read them at your leisure and get any questions answered ahead of time.
There is more than one home refinance loan out there. There are fixed-rate loans, adjustable rate refinance loans, etc. While we at 1-800BadCredit don’t recommend the adjustable rate mortgages (ARM), there are people who insist on them. The loan that is best for you depends on your situation. We don’t recommend them because many people have been caught in a squeeze situation with ARM loans and have been unable to qualify to refinance.
For example, in some cases a 15-year term is better than a 30-year term and vise-versa. Think about your long and short term goals before you refinance and choose the loan program that fits those goals best.
Paying Too Much For Mortgage Insurance
Evaluate the money you will spend in getting the home refinance loan to determine if it is cost effective. It’s important to compare the total loan costs with how much you will save each month by lowering your monthly payment. Very simply, just divide the transaction costs by your anticipated monthly savings to figure the number of months you will have to stay in the loan to recoup your refinancing costs.
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How to Avoid the 10 Top Home Refinance Mistakes
Mortgage insurance, or PMI, is what you pay on your home in case you default on your mortgage. PMI adds a lot to your mortgage payment, but you don’t have to pay PMI if you have an 80% equity stake in your home. If you refinance at less than 80% then you could wind up paying too much for PMI.
Using Your Current Lender When Doing A Home Refinance
If you are considering a home refinance there are some things you should be aware that should be avoided. Here are the 10 top mistakes people make when refinancing a home:Drawing On Your Home Credit Line Before Doing A Home Refinance
Never sign documents in a hurry. And don’t expect to read them at the time of signing. Sitting in front of the escrow company’s desk having form after form thrust at you for signing is intimidating and can make reading them thoroughly difficult.
Know the length of time the rate lock is in effect and check all particulars, such as APR, closing costs and any other fees that are listed. A loan officer can tell you verbally that the rate is a certain amount and the interest rate can change radically within the next few hours based on the economic rates that are always in flux. When a mortgage company tells you they will give you the home refinance loan for a certain amount, get a written statement to that effect, the length of time it’s guaranteed and any other particulars about the loan. This information is readily available by a Rate Lock Commitment. Request a copy for your records.
Signing Documents Without Reading Them
Reference: Advantage Mortgage; National Federation of Realtors; Harris-Rush
http://www.1-800BadCredit.com provides up-to-date information for people
with bad credit. Providing auto loans, mortgages and refinance options,
credit cards, credit counseling, personal loans, identity theft
protection and advice & tips on saving, budgeting and getting out of
debt. Founded by Dewey & Leslie Kearney who understand bad credit
because they’ve been there too!
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Their comparable rate comparison should allow them to determine if your home is within the expected parameters of the financing you have requested. Especially in today’s market where home prices have stabilized or even declined a little, it pays to save your hard earned cash.
Not Doing A Break Even Analysis
How to Avoid the 10 Top Home Refinance Mistakes
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Tags: Choices, Closing Costs, Financial Literacy, Formal Appraisal, Gfe, Good Faith Estimate, Home Refinance Loan, Home Value, Instances, Lenders, Loan Application, Long Term Relationship, Mistake, Mortgage Company, Receipt, Second Mortgage, Subordination Agreement, Substantial Portion, T Pay, Warning Sign |
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3 Important Things to Keep Your Information Secure and Get a Clean Free Credit Report
With almost everything being powered by technology, it is quite easy for most people to steal personal information, and the number of people being identity theft victims is increasingly growing each and every year. This is due to the fact that there are various “phishing websites” offering various services like an annual credit report, while in reality, they just do this kind of stuff to gather personal information and details and hack someone else’s credit account.
