20 Ways College Students Can Avoid Identity Theft

20 Ways College Students Can Avoid Identity Theft

Although our topics are usually about repairing credit, avoiding the need altogether is just as important a topic. One of the major reasons today that peoplle find themselves with the need to recover their identity and repair their credit is due to identity theft. By avoiding identity theft, you can save yourself the time and effort it takes to repair the damage that identity theives can do in a surprisingly short amount of time.

Identity theft is the fastest growing crime in the United States, according to the FTC, and College Students are particularly vulnerable.

"20 Ways College Students Can Avoid Identity Theft

Is it possible for college students to prevent identity theft? The answer to this question is both yes and no. Let's make a comparison between identity theft and somebody who attempts to break into your house. Can you stop somebody who will break into your house? Of course, you will do everything to make it difficult for the thief. You may install alarms, locks and even cameras for security purpose. You may hire the services of armed guards and security experts.
Even with these preparations, is there any possibility that somebody will be able still to house break? Certainly, if that person is determined, armed with sophisticated weapons and outnumbers your guards. This has been shown many times in the movies.

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It is really the same thing with identity theft prevention. You will do something to make it more complicated for an identity thief, yet there is no guarantee that you will not be the next victim. However, you can at least minimize your risk. The main object is to be cautious in managing your personal information and to be aware. In this way you will be able to be on guard against identity theft. What is important is to always be prepared and be always on your guard.

There is really a need to be aware of the increasing number of cases on identity theft, especially among college students. According to the Federal Trade Commission (FTC), identity theft is the fastest growing crime in the United States. Prehaps due to the comparatively low risk, high reward to criminals. All they need to get your Social Security Number and some pieces of data which are often taken easily. Then, they will assume your identity and commit credit deception, and other fraudulent crimes. It’s a nightmare for the victims. Victims of identity theft will spend hours over several years trying to recover their identity. having black marks against your credit is only one of the bad things that can happen. Some victims have even been arrested for crimes they did not commit, but rather the identity thief perpetrated. This is a draining ordeal that causes too much stress.

College students who move between addresses frequently, and are just starting to build credit are particularly at risk.

Below are some ways college students can avoid identity theft:

• Always protect your Social Security Number. Do not carry your Social Security Card in your wallet or have it printed on your checks. It is the main object for criminals.
• Be aware of shoulder-surfers. Make sure nobody is looking over your shoulder when you enter a pin number or a credit card number to an ATM machine, or in a phone book, or you're in the library or computer lab working at a computer.
• Invest in a shredder and shred any mail or other documents that contain sensitive personal information, including your name, address, social security number, bank account numbers, school ID numbers, credit card numbers, etc. Keep your identity from being thrown into the garbage can where identity thieves pray on unsuspecting victims.
• Rather than signing the backs of your credit cards, just write “See Photo ID”.
• Be sure to destroy all digital data. Some shredders now come with the option to shred credit cards, CD's and DVD's which may contain sensitive personal information.
• Be diligent in checking statements and bills. Bills and bank statements must be checked carefully for any fraudulent activity.
• Take your mail directly to the post office when paying your bills. Do not drop your bill payments in a local mailbox to be sent out. They may be vulnerable to theft.
• Limit personal information printed on your checks.
• Analyze your credit report at least once every year. It has your Social Security Number, present and prior employers, the list of all your account numbers, including those you have closed and your general credit score.
• Install good virus and spyware protection on any computer you use. Do not use computers at Internet cafes or other public venues to check your bank account, credit accounts, or pay bills.
• When you shop online, be sure to check the website before entering your credit card number or any personal information.
• Do not hesitate to ask questions whenever you are asked about personal information which is not connected to a transaction. If in doubt, do not give up your personal information, especially over the phone.
• Do not be influenced by pre-approved credit offers.
• Do not carry additional credit cards or other important personal identity documents with you unless it is necessary.
• Always carefully examine the charges on your credit card statements before you pay. If you do not recognize a charge, contact your card issuer immediately.
• Don’t ever give your credit card number or any personal information over the phone except when it is a business that you trust and you initiated the phone conversation.
• Subscribe to a credit report monitoring service so that you will be notified in case somebody applies for credit using your name.
• Do not be afraid to question the identity of the people and companies who initiate contact with you, whether through the email, mail, telephone or even in person.
• Don’t leave your wallet or purse unattended most especially in class, church, work, restaurants, parties or on the bus.
• Notify your bank or creditors if you do not receive any statement. It could have been stolen from your mail. "

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Even if you are not a college student all of the above advice is good for anyone who wants to avoid having their personal information stolen. Protect your identity and your credit, it's worth it in the long run.

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Tag: college students avoid identity theft

Take charge of your debts

Take charge of your debts

The rising cost of living has made people more reliant on loans and credit that most people have been indebted to someone at some point in their lives. A debt is an obligation that should be paid and accounted for no matter how small the amount.

Being in debt is normal considering that no one has a monopoly of money. People will always have the tendency to accumulate debts no matter how rich. In fact, rich people have more debts than poor people because they have more needs and they have more collateral or security.

Being indebted isn't something that you should be ashamed of provided you are a responsible debtor. This means the money was used for a very good cause or purpose and the debtor is religious in looking after his responsibility to pay his debts.

Even a person who is savvy is financial management can get into debt for one reason or another. However, a person who is good in managing his finances should also be good in managing his debts. Managing debts would include the ability to know how much a person owes and from where he would get the money to pay such debts.

The ability to know the total indebtedness is a must in debt management because the person who is in debt is aware of the total amount he has to produce to pay off his debts. There are people who don't practice good debt management and they keep borrowing money without being able to monitor how much they already owe people or the financial institutions.

Debt management means that at the time the loan was made, the borrower knows where he would source the payment for such debt. This makes the debt manageable because it would appear that the person has some source of income and he is just not liquid at the time he borrowed the money.

People who don't have a steady source of income should be discouraged from borrowing because there is a tendency for their debts to pile up without being paid at all. Unemployed people who resort to borrowing for their essential expenses like food and daily subsistence would borrow from another creditor to pay off a debt that is already due and demandable. The same thing happens to the second and the next loans after which it becomes a cycle.

A person who is indebted to someone should take an inventory of his assets that can be used to pay off his debts. There is no problem if the debtor is looking at a possible income that hasn't yet been encashed or paid. Such unpaid income can be considered an asset which can be used to pay his debts.

Debts are easily made but they are difficult to pay. Thus, every person should be careful when borrowing money form others. Make sure that you have something to pay for the debt like an incoming income or check, or assets that can be sold to pay off the debt.

Some people get indebted by virtue of loans which have varying interest rates. This means that aside from the principal amount borrowed, the debtors still have to pay for the interest rate. A person who borrowed $100 at ten percent interest rate per month will have to pay the principal plus the interest rate of $10 per month. Some interest rates are based on the actual balance like if the debtor has already paid $20 then the interest rates would only be pegged on the balance of $80. However, there are some interest rates pegged at the original amount borrowed.
While being in debt is a natural thing, every person should learn how to manage his debt and how to stay out of debt if possible. One of the major factors why most Americans are indebted today is the misuse of credit cards.

Credit cards are those plastic cards that can be used to pay for almost any purchase even if you don't have cash. People find it easier to spend when using their cards because they just swipe it and voila----it works like a genie granting their every wish!

However, most people who fail to use their credit cards wisely become indebted and are faced with legal actions for failing to pay their cards when they become due and demandable.
Go ahead, borrow if you must but always take charge of your debts to make sure they don't lead you to declaring insolvency or bankruptcy.

Tag: debt