Protect Your Identity

(CBS)  Imagine finding out one day that you owe thousands of dollars to a store or an airline for merchandise you never bought and trips you never took.

Or even worse, consider discovering that, though you never even get traffic tickets, you now have a criminal record.

This can happen if someone steals your identity - a crime that's on the rise across America, CBS News Saturday Early Show anchor Russ Mitchell reports.

Here are some questions about the crime and answers about how you can prevent it.

Q. How do most people find out they are victims?

A. This usually happens at the worst possible time. Such crimes often some to light when people ask for their credit report and they usually do that when they are
applying for a mortgage, a car loan, or a job. If if your
credit report has erroneous information about you, it will take time to fix and you may miss these opportunities.

Q. What should you do to prevent becoming a victim?

A. No one can fully prevent identity theft, but there are steps you can take to reduce your chances of becoming a victim. As Martha Stewart and Steven Spielberg learned this week, you are only as strong as the weakest link in your bank, brokerage, credit card company. etc.

To prevent becoming a victim:

• Get and review a copy of your credit report and make sure all inaccuracies are corrected. Look for any information that is not familiar, for example a change of address or requests for credit that you haven't made.
  
  
• Don't carry your Social Security number with you. If it's on your medical insurance ID card or your driver's license, see if you can have it changed.
  
  
• Be careful what you throw out in the trash. People go dumpster diving and can piece together everything they need from your credit card statements, bank statements,
  insurance reimbursement and brokerage statements.
  
  
• Get a shredder an shred all financial and personal documents.
  
  
• Don't give your Social Security number or credit card number out over the phone unless it's to a reputable vendor you know.
  
  
• Only mail financial documents in a secure mailbox. If you leave it in your mailbox, waiting for the postman, someone else can grab it first.
  
  
• Keep things in a secure location in your home. Everyone from the cleaning lady, to an estranged spouse, to transient roommates can go through unlocked filing cabinets.

Q. How do I get a copy of my credit report?

A. To order your credit report call:

• Equifax - 800-685-1111
  
• Experian - 888-experian
  
• Trans Union - 800-916-8800.

Q. If you are a victim how do you go about restoring your identity?

A. Call the Federal Trade Commission toll free at
877-ID-THEFT. They have specially trained counselors who can guide you through the steps you need to take to clear up the damage.

They will advise you to:

• Contact the Department of Motor Vehicles and the Social Security Adminisration.
  
  
• Call all three credit agencies and ask them t put a security alert on your credit file. That shows there is fraudulent acitivity in your file. Ask that they send you a copy of the credit report. It may reveal there is a lot of fraudulent activity you don't know about yet.
  
  
• Contact each of the creditors that have opend credit inyour name and ask them to close the accounts
  
  
• Report it to the police; this is a crime

CBS