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Our Congress is Proposing a New 'softer' ID Theft Law: Considering that Identity Theft occurs19 times per minute in the United States, it seems incredible to me that our Congress would be considering softer ID theft Laws. Recently enacted tougher State laws (as in Washington State) would be undermined by this new US Bill. http://www.consumersunion.org Urge your congressperson to support a tougher law to: 1. Remove the loophole that lets any company who fails to my personal information decide whether or not to tell me about it(!) As citizens, we must demand to make that decision for ourselves. We can only do so if we are informed when a company has ANY breach of security regarding our identities and financial information. 2. Insist on stronger security standards for everyone who handles consumers' personal information with real penalties if they fail to protect consumers. Companies who fail to protect my personal information should be pay for the inconvenience caused

How to order your FREE credit report once a year: Online: www.annualcreditreport.com (or download a mail-in form) By phone: 877-322-8228 By mail: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348 NEVER order a credit report from a site that asks you for a credit card number before giving you your 'free report'. Several firms have been convicted of secretly charging yearly credit monitoring fees. The best known good consumer site is www.myfico.com which is the Fair Isaac Company site (they invented credit scoring). This site has some useful credit comparison tools showing how credit scores affect interest rates which in turn affects your payments. A Tri-Merge (3 bureau) report costs about $50.00. If you check your own credit, it does not affect your FICO score. Be aware, you do not need to sign up for regular credit check services unless you are concerned that someone has been abusing your identitiy. If you have experienced identity theft an

Collections on your credit hurt your FICO score. However, don't pay them off without establishing the effect they are having on your credit report! Anything over two years old has less and less effect. Many lenders will overlook old collections as long as your recent record is good. Note: Once you've paid a collection, it is virtually impossible to remove from your report and could actually hurt your score in the short term! Removing Collections from your Credit Report 1. Contact each original creditor listing collections on your report. (They may refer you to their collection agency if they have 'sold' the debt.) If you can afford to settle the debt, negotiate how you will pay it off. Insist that you will ONLY pay the debt IF they agree to REMOVE the item from collections and show the Account "Paid as Agreed" on your credit rerport. You must do everything in writing. 2. Your letter from the creditor (assuming you hounded them into submission) should st

Lenders first want to know your creditworthiness. To prepare yourself, it's a good idea to check your credit report to find out where you stand before you intend to buy your first home. Credit History Your credit history is a collection of records held by the national consumer credit reporting companies: Equifax, Experian and TransUnion. Your record comprises a list of all your relationships with lending institutions and credit card companies as well as tax and court records. Any outstanding fines or late payments will be noted in detail with the most recent issues carrying the most weight in terms of your 'score'. Free Credit Reports By law every U.S. citizen can now receive a Free Annual Credit Report. This report is designed for consumers, and gives you the same information your lender sees in an easily readable format: http://www.annualcreditreport.com/ If you find anything on your report that you don't believe is accurate, you are advised to contact

Washington Governor signs security freeze legislation! May 10, 2005, Washington Governor Christine Gregoire signed SB 5418. This new law gives Washington state residents the right to place a security freeze to lock up their credit files so that new creditors can't check the consumer's credit file unless the consumer chooses to unfreeze, or unlock the file. The right to freeze the credit file applies to identity theft victims and to consumer who have been notified that the security of their personal information has been breached published by the Consumers Union Consumers Union is urging consumers to support tougher state laws that would increase your protection. Considering that 9.9 million Americans are vicitmized by Identity theft each year--your chances of experiencing loss through identity theft increases daily. To support the freeze on credit information access without your permission in your state, visit: https://secure2.convio.net/cu/site/Advocacy?page=UserAction&

If you are applying for a mortgage, here are a few specific rules to help you make it to closing alive: NEVER respond to a bank online request for your passwords or identity information. These may be opportunists looking for access to your accounts and it could be a coincidence that you are applying for a loan (who isn't these days?). Legitimate Banks may mail disclosure documents about your loan prior to closing. If you are working with a mortgage broker it is possible that more than one bank is competing for your loan--so keep the documents but do not respond to them...that's your broker's job. This can be confusing as the documents the bank sends may not be up to date anyway...but is does alert you that someone has applied for a loan in your name. NEVER co-sign a note with anyone for anything ! (Unnless yo uare willing to accept their payment history on your credit) NEVER give out your Social Security Number to a bank or lender who doesn't ask you to sign a

If someone has taken out a credit card in your name (without your permssion or knowledge) this is a fraudulent act, often involving forgery or impersonation and is a felony. Fraud is serious and Identity Theft can affect your credit indefinately! F IRST RESPONSE: Call your local police or sherrif's department. Tell them what happened and provide any evidence you have, for example, a card statement or unauthorized payment withdrawals from your bank account. Get a police file number and copy of the report. You can choose to press criminal charges if this person has caused financial loss. Good luck finding them! Next: Go to your bank and stop any payments from going out of your account to a suspect card or account. They may reverse the charges unless they came from a debit card that is directly linked to your bank account. You can close the debit card immediately and get a new card with a new number to prevent further charges. Your bank will advise y

How TRUSTING Are You? How well do you know the people who might have temporary access to your filing cabinet, check book or wallet? Now think: there's the guy who installed new cable outlets...your cleaning lady... the neighbor who feeds your cat when your away. Like most of us, you are probably pretty trusting until the precise moment you are either robbed or betrayed. Believe me, I've been there. Once the damage is done it is very costly and time consuming to have it undone. The only way to protect yourself from identity theft is to keep your personal details behind a solid unrelenting wall of common sense. Don't carry your social security card in your wallet and DO have a locked filing cabinet or home safe where you store your check books, passport, un-used credit cards, bank statements, W-2's, pay stubs and anything with your social security number or account numbers that could be used to impersonate you. Sad but true--a very high percentage of people who use your

Your Credit Report Is A Record of Your Financial Behavior. These records deonote patterns established over your borrowing lifetime You may be surprised to see records of employment and mortgages or credit card accounts over twenty years ago still reporting. Three national credit reporting bureaus maintain these records. These reporting bureaus: are Equifax, Experian, and Trans Union. Credit reports (also known as your credit file, credit profile, or credit history) contain: Your identification, including your name, telephone number, and address, as well as your Social Security Number, birth date, and employer. (The information usually includes previous addresses and employers too.) Your credit history, which details how you pay your bills to banks, credit unions, finance companies, mortgage companies, and retail stores. Also included are any existing public records, such as bankruptcies, judgments, and tax liens. Inquiries, or authorized credit checks by companies receiving your appl

Remember, your credit scores are based on your financial behavior, so good behavior is key to maintaining good credit scores as well as improving your current position. The List below is a quick review of how responsible borrowers behave . Always pay all of your bills on time. This proves your reliability and demonstrates consistent behavior and responsibility. Check your credit reports regularly and correct inaccuracies. Verify that the information reported about you is correct. Dispute anything incorrect with each of the credit bureaus immediately. Some disputes may require contact with financial institutions too. While it is best to document your disputes in writing, to all three bureaus simultaneously. Some bureaus provide customer service by telephone with instructions on how to register for a fraud alert. Monitor your accounts closely for signs of identity theft. Simply review each statement and verify that all bills are authorized, accurate, and your own. Guard PINs and acco

Most people find out they have been the victims of Identity Theft too late to prevent it. Watch your bank and credit card accounts every month for suspicious charges. Unexplained withdrawals should be reported to your bank immediately and investigated! Early Signs: Have you noticed any small suspicious charges on credit cards or bank accounts? This is an early warning sign of impending doom. If you have lost mail, bank statements, pay stubs, a wallet, credit card or check book--a thief or con may sell or hold them to use later. If you suspect you have been exposed to Credit Fraud or Identity Theft, you should notify all three Credit Reporting Bureaus (details below) to put an alert on your file--even if you only suspect a person who had access to your personal details. Unfortunately, with the increase in online purchases, there is a substantial increase in intercepted information by hackers who put spyware onto your computer designed to seek out credit card and bank account numbers. Re

Bankruptcy is a very important legal option open to U.S. Citizens who have serious financial problems from which they cannot reasonably recover given their current circumstances. There are two types open to individuals: Chapter 7, sometimes know as a 'straight' or 'liquidation' bankruptcy and Chapter 13, also called 'wage earner' or 'repayment plans'. You can get a lot of bankruptcy information from your State Bar Association, some of whom publish informative articles online. Office supply stores also carry Do It Yourself Bankruptcy Kits. You have the right to represent yourself in court, however the complications of this area of law elude most of we mere mortals. It helps to read up on the implications for you personally before you make a decision that could affect the rest of your credit lifetime. Credit Counseling: A Word of Warning: There are a number of 'credit counseling agencies' and 'debt elimination firms' that may essentially a