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Informative Articles

Six HELOC Strategies for a Rising Interest Rate Market
Most home equity line of credit (HELOC) loans are indexed to the bank prime loan rate. This means that when the prime rate changes, the rate on your HELOC loan will change too, typically within a few weeks time. When prime increases 100 basis...

Life insurance without life value: why young people are snubbing financial advice
This article is written by a 27 year old female (borderline Generation X / Y) called Rachel. Rachel spent six years at university, has no outstanding debts with the exception of government student loans. Rachel also has no pension plan, no life...

Is Accumulating a Net Worth of $1,000,000 Easy? Yes and No
After purchasing Anthony Robbin's Get The Edge program, I was a bit skeptical that it would provide much value. I can honestly tell you that it has dramatically changed many areas in my life. Many of my new or old goals are finally in clear...

Employment insurance
Employment insurance will help you keep from going bankrupt if you lose your job! If you live in Canada, then you might want to think about employment insurance. Essentially, employment insurance is just a way for you to insure your income in the...

“Anticipating” Your IRS Refund Can Cost You Plenty
While accountants are reaching for aspirin, millions of Americans are reaching for some fast cash this tax season. Unfortunately, those who reach for fast cash in the form of a “refund anticipation loan” are getting hit with interest rates and...

 
How to Avoid Becoming a Victim of Identity Theft

Identity theft is the fastest growing felony in North America. There are ways to reduce or minimize the risk of becoming a victim of identity theft and fraud. I have taken the following steps to avoid becoming a victim of identity theft, and so can you:

Taking care of my personal data - I never give out personal information to people on the phone and to people who do not need to know. A person on the phone saying he is calling from my bank does not need to know my personal information because it is already on the file with my bank. I never print my Social Security or my telephone number on my personal bank checks. I would unnecessarily be passing out information to people who need not know.

I have had Scamsters call with offers to receive a prize or some valuable item, and asking for my personal data, such as Social Security number, credit card number or its expiration date, or my mother's maiden name.

While on the move - If I am away for some time, I have my mail held up at the post office, or have someone I trust empty my mailbox daily. In case I need to communicate some personal information to someone, I trust. I make sure I am in a booth where no one can listen to what I am conveying.

Checking financial information regularly - I regularly receive my monthly bank and credit card statements. If this becomes irregular, I check with the concerned institution immediately to ask what is going on. Chances are that my bills are going to an address I have not authorized. Someone may have assumed my identity and be improperly using my accounts. If so, I would immediately start proceedings to cope with this identity theft to put a stop to it.

In the next article of the series, let me tell you how I would cope with identity theft.

About the author:

Jon publishes articles and ebooks to help individuals with their personal finance needs and goals.