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Identity Theft: What To Do If Your Personal Information Has Been Compromised

Quick Facts

It’s important to protect your personal information, and to take certain steps quickly to minimize the potential damage from identity theft if your information is accidentally disclosed or deliberately stolen:

• Place a “Fraud Alert” on your credit reports, and review those reports carefully.  Notifying one of the three nationwide consumer reporting companies is sufficient.
• Close any accounts that have been tampered with or established fraudulently.
• File a police report with local law enforcement officials.  This is an essential step in claiming your rights.
• Report your theft to the Federal Trade Commission, online, by phone, or by mail.

And before ID theft happens, learn how to safeguard your information at ftc.gov/idtheft.

The bottom line for online threats like phishing, spyware, and hackers is identity theft. ID theft occurs when someone uses your name, Social Security number, credit card number or other personal information without your permission to commit fraud or other crimes. That’s why it’s important to protect your personal information.  To find out how to deter and detect identity theft, visit ftc.gov/idtheft.

But, according to OnGuard Online, if your personal information is accidentally disclosed or deliberately stolen, taking certain steps quickly can minimize the potential for the theft of your identity.

21 Strategies for Creating an Emergency Fund, and Why It’s Critical

Building up an emergency fund, if you haven’t already, is one of the most important things you can do to help your finances.

But you knew that.

It’s common financial advice, actually, but what’s not so common is how to actually do it. Obviously those who haven’t saved up an emergency fund have a difficult time saving money, even if they know they should.

So today we’ll look at some strategies for building up an emergency fund, for those of us who don’t have it so easy.

How to Stop Living Paycheck to Paycheck

For a few years, I went through tough financial times. I was getting further and further into debt, not paying some of my bills (which then went to collectors) and always behind, even on payday. It took me awhile to step back and realize that this situation was all of my own making, due to my own choices and financial habits, and that it was possible to change.

Today, things have gotten better, although I’m not out of the red yet. I have begun saving, I’ve paid off several small debts and am well on my way to paying off my credit card (which I’ve canceled), and hope to pay off my car by the end of the year. I plan to be debt free in a little over a year, with good prospects after that. I’m also planning for retirement, a little travel, and a simple house. My finances are much better off today than they were just a year and a half ago.

73 Great Debt Elimination Tips

This is not a step-by-step guide. It is a list of ideas and advice from different people. There are many redundant suggestions, but I’ve included the redundant ones because they gave a different twist on the same thing that I really liked. For example, there are several tips about being creative so that you spend less on entertainment, eating out, and the like. They are basically the same tip — but with different suggestions. I kept them separate because I liked them all.

There are also contradictory tips. One says to pay off the credit cards with the highest interest, for example, while another says to pay the one with the lowest balance. They are both valid approaches with solid reasons behind them, and each will work for different people. Find the tips that will work best for you, and try them out.

I hope this serves as a valuable resource — let me know what you think in the comments, and feel free to add your tips!

Credit Card Payoff Calculator

Plug in missing variables to see how long it will take you to pay off your credit card with your current payment. Leave the payment amount blank and fill in the number of months to be debt free to see how much you should be paying each month to meet your financial goals.

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What is a credit file disclosure or a credit report?

A credit file disclosure, commonly called a credit report, provides you with all of the information in your credit file maintained by a consumer reporting company that could be provided by the consumer reporting company in a consumer report about you to a third party, such as a lender. A credit file disclosure also includes a record of everyone who has received a consumer report about you from the consumer reporting company within a certain period of time ("inquiries"). The credit file disclosure includes certain information that is not included in a consumer report about you to a third party, such as the inquiries of companies for pre-approved offers of credit or insurance and account reviews, and any medical account information which is suppressed for third party users of consumer reports. You are entitled to receive a disclosure copy of your credit file from a consumer reporting company under Federal law and the laws of various states.

How Can I Get a copy of my credit report?

What is a credit score?

A credit score is a complex mathematical model that evaluates many types of information in a credit file. A credit score is used by a lender to help determine whether a person qualifies for a particular credit card, loan, or service. Most credit scores estimate the risk a company incurs by lending a person money or providing them with a service –– specifically, the likelihood that the person will make payments on time in the next two to three years. Generally, the higher the score, the less risk the person represents.

How can I get my credit score?

How can I get my credit score?

You can purchase a credit score by contacting one of the nationwide consumer credit reporting companies.

Equifax - http://www.equifax.com/
Experian - http://www.experian.com/
TransUnion - http://www.transunion.com/

You can also purchase a credit score when you request your free annual credit report through AnnualCreditreport.com.

Watch out for credit card scams

With so many different credit cards being marketed these days, it can be difficult to determine if an offer is legitimate or not. There are some good tip-offs for scams, however, such as:

Offers of easy credit or credit without a credit check. No one can guarantee to get you credit. Before deciding whether to give you a credit card, legitimate credit providers examine your credit report.