Direct payday lenders know how identity thieves can totally destroy an individual’s finances. When your personal finances are being destroyed by someone else, it is imperative that you take control of the situation as soon as possible.
Some of the more common identity theft crimes will be:
- Stolen mail gives a thief access to your credit card information, bank accounts, credit card promotions or pre-approved offers, tax information, or a falsely prepared change of address form.
- A changed address on credit cards – if you find that your address has been changed on an existing card, close the account. When setting up a new account, have a password set in order to make any changes.
- Does the thief have access to your bank account? Close it any other account or bank card attached to it. When you do open a new one, make password-only access. Missing a check? Place a stop payment immediately.
- If the identity thief set up a new phone or wireless service in your name, and you are receiving the bills for unauthorized calls, contact your service provider immediately and get new accounts and PINs.
- If your Social Security number has been compromised and is being used to obtain a job, get in touch with the Social Security Administration to verify your reported earnings and that your name is reported correctly. If your SSN is being used to obtain a driver’s license, let the Department of Motor Vehicles aware. Some states use your SSN as your driver’s license, so you will want to ask for a substitute number.
Payday lenders warn individuals to not let your guard down.
Once everything is resolved, don’t stop reviewing your accounts. Monitor credit reports every few months at least for a year after the theft and keep track of credit card statements. Review each bill carefully. Be on the lookout for bills not received, getting credit cards that you did not apply for, being denied cards or interest increased for no reason, or receiving letters and phone calls from debt collectors about purchases you never made.
Every 12 months, you are offered a free credit report by each of the three credit reporting agencies. Use them! Go through the accounts and check for accuracy and only includes debt which you have created. Take advantage of what is being offered free in order to protect your finances. Individuals have rights and they are protected by the government. Don’t let things go too long and make it more of a problem to correct.
Spotya.com cares. Individuals have lots of power over their finances. Preventing problems or at least keeping them from snowballing into major disasters is a great way to keep your finances protected.
Responsible payday lenders work hard to verify an applicant’s information prior to approval. If something is not correct or looks fraudulent, the application will be denied. Communication is key to financial success. The sooner an individual can let a creditor or bank know that there is a problem, the less damage there will be to clean up after. Your finances will be on hold while you do take care of identity theft problems. There is lots of financial help available. Identify the problem and work towards solving it as soon as possible.