Identity Theft and Bankruptcy

June 23, 2012 by  Filed under: Bankruptcy 

When it comes to personal financial risk in the 21st century, there are few things more dangerous than identity theft. The availability and easy accessibility of information via the Internet and corporate networks makes identity theft an unfortunately common practice. If you’re a victim and caught off guard, you could be put at risk for bankruptcy.

While we don’t publicly endorse any particular program or software that guards against identity theft, plenty of services are available for those who want to take the most serious precautions. However, if you want to get started now on your own, we’ve come up with 5excellent money managementtips to help you protect yourself against identity theft!

What You Can Do

  1. Protect your information. Of course, this is the fundamental step. Be careful about what information you give out, and who you give it to. Personal checks, for example, have a lot of information about your checking account right there for anyone to see. Don’t give these out to strangers. Instead, use cash. Unfortunately, information can still be stolen when you take precautions to only give it out to responsible institutions. That’s just one reason why an identity theft service can be immensely valuable!
  2. Check your credit report. Oftentimes, you can be a victim of identity theft, and have no idea until a potential lender runs your credit report. You might have no idea your credit was being used by a thief until the surprisingly bad score shows up.
  3. Be aware of your wallet contents. Most of us carry around many or all of our credit cards. With bulging wallets, we don’t even think to try and take account of everything we hold. You could be missing a credit card for days or even weeks and have no idea if you aren’t diligent about checking your wallet’s contents.
  4. Reduce your credit and debit card use. When you aren’t carrying these cards around and using them, you reduce the likelihood they will be stolen. Protect your identity with this smart preventative tip!
  5. Change your passwords online frequently. Also, don’t reuse passwords. Each online account you have in your name should have a unique password that is regularly changed.

Being aware of what information you release into the world, and where it goes is paramount. When you’re aware you greatly reduce the risk of running into an identity theft problem that can’t be controlled. No matter what money management practices you include in your life, your skill set isn’t complete without good identity theft awareness and defense!

The Lee Law Firm aims to help local residents resolve their debt issues and achieve a financially healthy future. Their mission is to provide high quality legal representation that to assist hard working people lower monthly debt payments, stop wage garnishment, prevent foreclosures, and stop calls from creditors. The Lee Law Firm bankruptcy attorneys have many years of experience in all aspects of Chapter 7 and Chapter 13 Bankruptcy in Fort Worth.

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