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Protect Your Mail From Thieves

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Do you have Informed Delivery from the US Postal Service? If not, you should. Every day, it sends you an email that shows what is coming in your mail.

Robert Siciliano, CSP, SAFR.MEHowever, there is also the possibility that someone could pose as you and get your Informed Delivery. This means that they could get your mail before you do.

In fact, this is already happening. The bad guys are signing up with the addresses of other people, and then collecting their mail. Why? Because they want to get access to things like credit card applications or new credit cards.

What if your mail contains a check? The thief could easily cash it before you even realized it was gone.

There are numerous reports that show groups of thieves in actually used the USPS to apply for credit cards via an application that we all get in our mail. They then just had to wait. They knew the exact day the credit cards would arrive because they had access to the owners’ mail via Informed Delivery. By doing this, they were able to spend around $400,000, and the owners didn’t realize it until it was too late.

A locking mailbox could certainly help, and you can also opt out of informed delivery by emailing eSafe@usps.gov. This prevents anyone from signing up for it in your name.

You can also consider a credit freeze. This does not guarantee that a thief won’t be able to steal your identity and open a credit card, but it makes it much more difficult.

Other Things You Can Do

Here are a few other things you can do:

  • Check your credit cards statements each month for any charges that look strange or unfamiliar, and then immediately report them, even if it is a small amount.
  • Contact the three major credit reporting agencies and sign up for alerts to get any changes in your credit report.
  • Get a mailbox that locks. There is too much information out there not to have this.

Written by Robert Siciliano, CEO of Credit Parent, Head of Training & Security Awareness Expert at Protect Now, #1 Best Selling Amazon author, Media Personality & Architect of CSI Protection Certification.

Is Freezing Your Credit Enough?

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You might think that freezing your credit is enough to keep you safe. In fact, freezing your credit was actually a smart thing to do in order to prevent fraud and stop yourself from becoming a victim of ID theft. It is free to freeze your credit whether or not you are a victim of ID theft, and the FTC (Federal Trade Commission) recommends that people do this in order to protect themselves. But what if it doesn’t work?

credit freezeLet’s talk about Chuck. Chuck is a guy who contacted the Consumerist with a story about his mother. She was a victim of ID theft and froze her credit because that’s what the FTC suggested. However, one of the three major credit bureaus, TransUnion, allowed the hack who had stolen his mother’s ID in the first place, actually lift the freeze! How could something like this happen? Well, it’s much easier than you might think.

These credit bureaus give people a PIN when they freeze their credit. So, to life the freeze, the person must provide the PIN again. However, a PIN is pretty easy to forget, so the companies have created other ways to lift the freeze. For instance, with TransUnion, you must answer a series of personal questions such as “Which of the following phone numbers have ever belonged to you?” or “Which of the following streets have you lived on.” The problem is, this information is extremely easy for a scammer to access.

Of course, this isn’t extremely common, but it can happen, and Chuck’s mother is a good example of it.

TransUnion says that there is an extra layer of protection that it offers to people who cannot remember the PIN they were given. The company sends a written confirmation. This means that they would expect to hear from the consumer if they did not need a new PIN or ask for the account to be unfrozen.

On the surface, this sounds pretty safe, but not everyone constantly checks their email, and many people only check a few times a week. On top of that, it could be a few days before a person knows that their account has been compromised. If this happens, the damage has likely been done.

When you look at security, you should see that it is built up of several layers of protection. This means that if one layer fails, another comes in to bring security. The more layers that are there, the more secure your account information is. This is why experts like me recommend a combination of a credit freeze, ID theft protection, and credit report monitoring. Though nothing can offer a 100% fool-proof method, all of this can greatly increase your chances of not becoming a victim.

ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, CEO of CreditParent.com, the architect of the CSI Protection certification; a Cyber Social and Identity and Personal Protection security awareness training program.

Freeze Your Credit Now, Before it is Too Late!

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Do you know what a credit freeze is? It is an action that you can take to lock your credit report down. A lender will be unable to see your credit score, which means that your credit rating and Social Security number will be useless. In other words, they can’t tell if you are a lending risk.

When an ID thief can get access to your Social Security number, they can also apply for credit in your name. However, if the credit file is frozen, the bad guys cannot access it. When you freeze your credit, the file is not accessible.

To gain access to your frozen credit, such as when you want to apply for a line of credit, you have to unfreeze it by using a PIN number given to you by the credit bureau. That’s it. Keep in mind that freezing a credit report does not affect any lines of credit that you have open, and the process is free for those who have become victims of ID theft. However, you can pay a small fee to TransUnion, Experian, and Equifax, the three main credit reporting bureaus, and you can freeze your credit.

What Specifically does a Freeze do?

A credit freeze protect you from new account fraud. It prevents criminals from opening up new lines of credit, new accounts that require a credit check.

When is it a Good Idea to Get a Credit Freeze? 

If you are someone who has had their identity stolen, you should consider freezing your credit. If you have a Social Security number, you are considered a target, so you can make it useless to thieves, even if they get it, they cannot use it to open a new account under your name.

What to Know Before You Freeze Your Credit

Before doing a credit freeze, you don’t have to know too much. Just do it. Your credit will be frozen from any and all credit application. This means that lenders, banks, and retailers have spent millions to stop it. Why? Because they cannot instantly approve a line of credit.

How Much Does a Credit Freeze Cost?

A credit freeze is free. There used to be a charge, but a law was passed in

September 2018 making it free for everybody to freeze it and unfreeze it. So just do it

Is it an Inconvenience to Freeze Your Credit?

Freezing your credit is not inconvenient. It only takes a few minutes to freeze and unfreeze your credit file. Of course, you must unfreeze it before you can apply for credit. This means that you have to take a little time to let the thaw pass, but usually that takes only a couple of minutes. This makes the credit freeze more secure and helps to keep you safe.

Does a Credit Freeze Harm Your Credit?

A credit freeze does not hurt your credit in any way. Plus, if you have an existing creditor, they can still do “soft” checks on your credit report.

Does a Fraud Alert Do the Same as a Freeze?

No. A fraud alert only lasts for 1 year, and scammer can still access your credit file and they can still apply for new credit, even if an alert is in place. The creditor might know that you had your ID stolen, but they can still issue credit. A fraud alert will notify lenders that something might be amiss with your credit, but that’s it.

What does a Freeze not do?

A freeze does not protect you from credit card fraud, bank account take-over, if you lose your wallet a freeze won’t help you, it doesn’t protect you from tax related identity theft, criminal related identified, social Security fraud, and many other forms of account take over. Again, specifically it prevents “new account fraud”

If I have a Freeze do I need Identity Theft Protection?

Security is all about “layers of protection” and a freeze only protects you from certain things, whereas identity theft protection will mitigate lots of other forms of fraud. While identity theft protection services don’t protect you from things like tax related identity theft or even medical related fraud, the identity theft protection “fraud resolution experts” and the insurance that comes along with identity theft protection services will generally set a victim straight and fix those forms of fraud.

You can Freeze Your Credit, Here:

Freeze Credit with Equifax.

Freeze Credit with Experian.

Freeze Credit with TransUnion.

ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, CEO of CreditParent.com, the architect of the CSI Protection certification; a Cyber Social and Identity and Personal Protection security awareness training program.

What You Need to Know About Business Credit and Covid Relief

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If you are the owner of a small business owner, you might find that you occasionally have issues with your cash flow. One option you have is to open a business line of credit. There are advantages to this, of course, but it’s important that you keep some things in mind.

Business CreditUnderstand the Difference Between Secured and Unsecured

One thing you should know is that you need to know the difference between the types of credit lines. There are both secured and unsecured lines. Secured lines are those that are secured by your company’s assets. If you default, the lender now owns these assets. An unsecured line of credit does not require collateral.

Look at Fees

You also want to take a look at fees. Interest is always going to be part of a loan, but there might be other fees that you can come across. If you access your line of credit time after time, those fees will add up. You might also have some maintenance fees to deal with.

Consider Bank Drawdowns

If there are times of economic uncertainty, the lender might require borrowers to pay back the balance of their credit. They can do this because it’s in the small print, and if you sign the loan agreement, you allow them to do it.

Understand Interest Rate Variability

Most interest rates are variable, and they are based on the prime lending rate. If your interest rate rises, your payment will be higher, and you might find that it’s hard to pay it back.

Think About Insuring Your Line of Credit

You also might want to consider insuring your line of credit. This can help to cover any payments if you become ill, injured, or die.

Understand how to get the Best Line of Credit

There are many lenders giving lines of credit, so it’s important that you do your research before signing on the dotted line. You also might want to look at any borrowing limits and take a close look at the repayment terms.

Get Help from the Small Business Administration

Finally, especially during the Covid pandemic, consider looking to the Small Business Administration for help. They have a plan in place that helps you to obtain credit, though they don’t lend directly. They offer programs like Lender Match, which takes a look at your business and matches you with lenders offering lines of credit that will fit your needs.

ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, CEO of CreditParent.com, the architect of the CSI Protection certification; a Cyber Social and Identity and Personal Protection security awareness training program.

Child Identity Theft: Protecting Your Child’s Identity

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Do you have a kid who has gotten a pre-approved credit card offer in the mail? If so, their identity might have been stolen. Child ID theft is when a person uses a minor’s Social Security number to commit some type of fraud, which can include opening credit cards, taking out a loan, or even applying for government benefits.

Child Identity Theft

Something like this can go on for years, and you might not even know it. But there are things you can do to protect your child’s identity, so keep reading.

How Does Child Identity Theft Occur and What are the Warning Signs?

In general, child identity theft happens when their Social Security number is stolen. There are plenty of ways that this can happen from stealing official documents to electronic data breaches. So, what are the signs that this might be happening?

  • Getting a Pre-Approved Credit Offer – As mentioned, a pre-approved credit card offer might be a sign that your child’s credit is at risk. A credit card company only send these offers if it has access to a credit file.
  • Getting Turned Down for Benefits – You might also be trying to apply for some type of government benefit for your child but keep getting denied.
  • Receiving an IRS Notice – Letters claiming that your child didn’t pay income taxes is a big sign, too.
  • Getting a Letter or Call About an Unpaid Bill – If a collection agency is calling for your child, there is a big problem.

Protecting Your Child’s Identity

Here are some tips for protecting your child’s identity:

  • Don’t share your child’s Social Security number unless it is absolutely necessary.
  • Keep documents with your child’s information secure and locked away.
  • Shred any documents with your child’s information before tossing them out.
  • Be aware of anyone in your household who might use your child’s identity.
  • Learn about your child’s school’s directory information policy. Can you opt out?

What Can You Do if Your Child is a Victim of Identity Theft?

If you think that your child’s information is compromised, you should do the following:

  • Contact all three major credit reporting companies: Equifax, TransUnion, and Experian.
  • Ask them to do a manual search of the file with the Social Security number and a separate search with the name AND Social Security number.
  • Keep records of letters and phone calls.

If you confirm that your child has been a victim, you need to do the following:

  • Reach out to all of the credit bureaus and explain the situation. Ask them to remove any collection notices, accounts, and inquires. You will have to give them proof that the child is a minor.
  • Contact any business where the information was used and ask them to close any open accounts due to identity theft.
  • Place a fraud alert on the child’s credit report by contacting one of the three credit bureaus.
  • Consider a credit freeze. Freezing a child credit is the best, most proactive way to prevent “new account fraud” and lock down your child’s identity until and after the age of 18. There are “do it yourself” ways of accomplishing this or they can be done for a nominal free at org.
  • Order a copy of your child’s credit report, which shouldn’t even exist if they are 17 or under. If there is a credit report, they are likely a victim of fraud.
  • File a report with the FTC by phone or online.
  • Go to identitytheft.gov and create a report.

This could be a bad thing for your child’s future, so it is very important that you take steps to fix it, right now.

ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, CEO of CreditParent.com, the architect of the CSI Protection certification; a Cyber Social and Identity and Personal Protection security awareness training program.

Protect Your Identity From Thieves

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There are tried and true ways to protect yourself from identity theft—ways that you may not have even considered.

Evaluate your passwords. Does every online account have a different password or are you using the same one for multiple accounts? Fix this problem immediately by investing in a password manager software. Avoid using actual words or names, or keyboard sequences. Password managers facilitate the password creation process.

Never post anything personal on social media.This includes your pet’s name, name of your kids’ school or teacher, where you’re going on vacation, the town your parents live in, etc.

Ignore e-mails whose senders you don’t know. Never click links in e-mails or open attachments you’re not expecting.

Set your phone up with a password. If it’s lost or stolen, you’ll have no worries.

Shred everything. All your credit card offers, medical records and other personal information before tossing.

Never give it out your Social Security number unless it’s absolutely mandatory like a credit application. However, just because someone says they can’t process your request without your SSN doesn’t mean you must hand it over. The objective is to minimize how much your SSN is “out there.”

Request your free credit report every year from the three major credit reporting bureaus. Refute unauthorized accounts immediately.

Inspect your statements such as credit card and banking statements every month for suspicious activity.

Use a locking mailbox or have your mail delivered to the post office and pick up.

Stop mail delivery when taking long trips.

Get a credit freeze. This is a no brainer to protect you from new account fraud.

Invest in identity theft protection. There is no cure for identity theft. But with a protection plan in place, the restoration component will fix most of what goes wrong.

ROBERT SICILIANO CSP, is a #1 Best Selling Amazon author, CEO of CreditParent.com, the architect of the CSI Protection certification; a Cyber Social and Identity and Personal Protection security awareness training program and the home security expert for Porch.com

Check Your Free Credit Report Now

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When is the last time you checked your credit report? If it has been more than a year, you can get a free one. The issue is, however, is how to really understand it. Here’s some information about obtaining and reading your credit report.

Obtaining Your Free Credit Report

Based on US law, everyone is entitled to look at their credit report from all three major credit reporting agencies. If you want to look at more than that, you can pay a fee. This law dates back to 2003, and all three major bureaus, TransUnion, Equifax, and Experian, must allow people to access their credit reports from AnnualCreditReport.com. Keep in mind, you won’t see your credit score through the free reports. You’d have to pay to see your scores.

When you go to this site, you can fill out a form that requires a number of items. You have to supply your name and address, your date of birth, and your Social Security number. Once entering that information, you can submit it, and you will be taken to a new page.

The next page allows you to choose which credit reporting company you want a report from. There are checkboxes next to the name of these companies. You can select all three, only two, or a single credit reporting bureau. There are some cases where you might want to access all three reports at once, but there are also instances where you might only want to access one. This is further explained on the website.

Before you can access your credit report, you have to verify your identity. You should get a page of questions on the screen about a variety of things. It might include credit accounts, loan terms, or even what cars have been purchased by you. The only way to access your report is to answer these questions correctly.

Since this website is integrated with the sites of the credit bureaus, once you gain access, you will see how easy it is to switch from one report to the next. Now, you only get one free report each year, but it is possible to check reports again, if necessary. You just have to pay a fee of about $20 to view them.

Understanding Your Credit Report

Credit reports are not easy to understand. The top of your report contains information such as your name, address, employment information, and addresses. Next, you will see public records, such as collection accounts and judgements.

Next, you will see a list of all credit accounts you have in good standing. Revolving accounts are listed next, and then you will see all requests to view your credit report. Finally, you will see any personal statements that you have placed on your credit report. Generally, this is done if you have been a victim of identity theft.

Robert Siciliano personal security and identity theft expert and speaker is the author of Identity Theft Privacy: Security Protection and Fraud Prevention: Your Guide to Protecting Yourself from Identity Theft and Computer Fraud. See him knock’em dead in this Security Awareness Training video.

Get a Credit Freeze NOW Before it’s Too Late!

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What is a credit freeze? It’s an action you take to lock down your credit report. A lender can’t see your score, which means your Social Security number and credit rating is useless to them. In other words, they can’t tell if you are risky or not.

When an identity thief can access your ID aka Social Security number, they can also create credit in your name. However, if your credit file is frozen, the bad guys can’t access it any longer. With a credit freeze, your credit file is inaccessible.

To get access to your frozen credit, when you need to new line of credit, you have to use a credit bureau issued  PIN to unfreeze it. It’s easy. Freezing a credit report doesn’t affect any existing lines of credit, and the process is free for everyone including kids.

When is it a Good Idea to Freeze Your Credit?

If you are a person who has had their identity stolen, you should freeze your credit. If you have a Social Security number you are a target. If you breathe you are a potential victim. Make your SSN useless to the thief by freezing your credit

What You Should Know Before Freezing Your Credit

Before you freeze your credit, there isn’t much to know. You should simply do it. Your credit should always be frozen from all transactions, and retailers, banks, and lenders have spent many millions trying to stop it. Why? Because this stops them from instantly approving a credit line. They are not concerned about your identity, only their bottom line.

What does it Cost to Freeze your Credit?

Its free. Just freeze your credit already and stop asking so many questions!

Is Freezing Your Credit Inconvenient?

Freezing your credit is not an inconvenience. It only takes a couple of minutes to freeze and unfreeze your credit file. Of course, you need to unfreeze before getting approved for credit. That simply means prior to initiating an application for credit, you need to spend 5 minutes administrating the thaw. This boils down to a simple change in the current process which makes you more secure. Think of a freeze as putting on your seatbelt. It’s just something you have to do.

Does a Credit Freeze Harm Your Credit?

Nope. It doesn’t affect your credit score at all. And exiting creditors can still do “soft” checks on your credit.

Doesn’t a Fraud Alert Do the Same Thing?

A fraud alert only lasts for a year, and the bad guys can still access your credit file and apply for new credit. This informs a creditor that you might have had your ID stolen, but they can still, and do, issue credit. At their best, fraud alerts simply notify lenders that something might be going on with your identity. It’s really just a false sense of security.

Where You Can Go to Freeze Your Credit:

To freeze your credit with Equifax, click here.

To freeze your credit with Experian, click here.

To freeze your credit with Trans Union, click here.

Robert Siciliano personal security and identity theft expert and speaker is the author of 99 Things You Wish You Knew Before Your Identity Was Stolen. See him knock’em dead in this identity theft prevention video.

How long does Information stay on Credit Reports?

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If you are concerned how long any negative information will remain on your credit report, it takes seven years from the Date of the Last Activity (DLA) before the item is deleted from your records (and seven to 10 years for bankruptcies). This is a very common question posed to credit reporting agencies.

Credit reporting agencies get your information (bad or good) from lenders and collection agencies. The reporting agencies simply compile the information that comes to them.

Consumer Statements

The credit report may contain not-so-appealing information about a dispute that you were involved in that did not see a resolution. For no fee, you can file a statement with the credit reporting agency, summarizing the situation in a brief fashion. At any rate, you can make a request for the dispute information to be removed from your record, and there is no fee or required timeline for this.

Collection Accounts

These stick around for seven years out from the first past-due date for the payment.

Judgments

From the date filed, it’s seven years.

Credit Accounts

These will stay on your record up to a decade from the DLA. If you fail to pay, it will be on your record for seven years from the first past-due date. So you’re looking at seven years for records of delinquent payments.

Inquiries

When entities like businesses get a copy of your credit file, this inquiry report stays on the record for one or two years. Another type of inquiry relates to promotional offers of credit lines; they’re gone in a year. Inquiries do not affect your credit score.

Tax Liens (Paid and Unpaid)

From the date these are paid, it’s seven years. However, unpaid ones are on the record forever.

Robert Siciliano personal and home security specialist to BestHomeSecurityCompanys.com discussing burglar proofing your home on Fox Boston. Disclosures.

How to Remove Fraudulent Lines of Credit

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You just learned you have a new credit card account by checking your credit or because a bill collector called you. Problem is that you don’t remember ever applying for it. You must find out what’s behind this new account and how it got there.

  • Call the corresponding phone number listed with the account seen on your credit report.
  • Begin the process for disputing the entire account.
  • Get the name (and employee ID number) of every person you speak to and a transaction or reference number for every phone call.
  • Speak to the fraud specialist for the issuer of this new account.
  • Maybe you did apply for it. If you didn’t, find out if there are any charges on it.
  • If the issue isn’t cleared up with one phone call, see what your options are to put a freeze on the account while things are being checked into.
  • Get your free credit reports from TransUnion, Equifax and Experian to see how this new account appears.
  • If you’re still in a quandary over this, put a fraud alert and security freeze on all three reports.

Taking Matters Further

  • If it’s fraud, file an ID theft complaint with the Federal Trade Commission. You’ll get an identity theft affidavit online; immediately print it because it can be viewed only once through the FTC’s system.
  • Next, bring the ID affidavit form to the police, plus other documents relevant to your case, and file a report. Don’t assume your problem is too trivial.

What if the credit card issuer is not helpful?

  • Send a certified letter requesting they freeze or even close the account.
  • Include with that letter a copy (not the originals) of the FTC affidavit and police report.
  • The letter should request written proof of the authorization for opening this account.
  • Another request: written statement absolving you from any responsibility towards charges on this mysterious account.
  • Did you know that the creditor has 30 days or less to send you a written summary of its investigation?

If you’ve been assured that the account will be removed, don’t just take their word; follow up to make sure this was done.

You should not be responsible for any debts incurred by this fraudulent account. Any negative notes on your credit report, related to this account, should be wiped clean.

What if after all that, the account still remains open and you feel the case was not handled properly? File a complaint with the Consumer Financial Protection Bureau. Hopefully you won’t have to hire an attorney, though that’s also a next step.

Robert Siciliano is an identity theft expert to TheBestCompanys.com discussing  identity theft prevention.