Get documents about "Stop Identity Theft Cold by 'Freezing Your Credit!' ITCT contact info - May, 2011
Document Sample
Improving the
lives of
Idahoans, two
cents at a time!
May, 2011
Stop Identity Theft Cold by “Freezing
Your Credit!”
Lyle Hansen, lhansen@uidaho.edu
I am often asked “what is the best way to protect against
ITCT contact info: identity theft?” My answer has been to use and follow the
Identity Theft Quick Tips worksheet that Luke Erickson and
Editor: Luke Erickson I developed, which can be found here http://
erickson@uidaho.edu www.extension.uidaho.edu/jerome/IdentityTheft_files/ID%
208-356-3191
20Theft%20Quick%20Tips.pdf.
Assistant Editor: Pat Cook
madison@uidaho.edu
Using the Identity Theft Quick Tips
worksheet is a very effective way to
monitor your identity and protect
against identity theft. Now, there is the
option of requesting a credit freeze (also
called a security freeze), which is one of
the most successful tools for preventing
financial identity theft. A credit freeze is
a great option for someone who doesn’t
frequently apply for credit and wants
-Set goals peace of mind when it comes to identity
theft.
-Get education/
earn income
A credit freeze means that your credit file cannot be seen by
-Give potential third-party creditors or employers conducting
background checks unless you give permission. For exam-
-Budget
ple, if someone steals your identity and applies for a credit
-Plan for emergencies card, your credit report is not released to the credit card
company because it is frozen and the thief is stopped. This
-Eliminate consumer added layer of security means that thieves can't establish
debt
new credit in your name even if they are able to take over
-Invest for retirement other elements of your identity because they don't have
your secret personal identification number or password.
-Teach kids about
money
You may request a credit freeze on your credit report,
-Own a home which will not lower your credit score, still allow you to ob-
tain new credit, allow you to use your existing credit (credit
-Plan your estate cards), and allow you to receive your free credit reports at
Receive Idaho’s Two ¢ent Tips every month by sending an email to erickson@uidaho.edu
with the word “subscribe” on the subject line.
Email “subscribe” to erickson@uidaho.edu
Extension professionals work with the people of Idaho to address youth,
community, family, environmental, natural resource and agricultural issues.
www.annualcreditreport.com. You can request a credit
freeze regardless if you have become a victim of identity
theft or not. A credit freeze is inexpensive, currently $6 per
credit bureau in Idaho and for other states may range from
$0 to $20 per credit reporting agency. Victims of identity
theft can have any fees waived, and seniors are often ex-
empt from the fees in most states. Follow this link that lists
the credit freeze costs by state:
https://help.equifax.com/app/answers/detail/a_id/75/se
arch/1.
ITCT is more To obtain a credit freeze, you simply go to each of the three
main credit bureau websites and complete order forms
than just a (Please note that both spouses have to freeze their separate
credit files):
newsletter!!! Experian
(http://www.experian.com/consumer/security_freeze.html)
Trans Union (https://annualcreditreport.transunion.com)
Check out these recent mul-
Equifax (https://www.freeze.equifax.com)
timedia tools by ITCT
You can also call the credit bureaus or submit a written re-
Earned Income Tax quest. Using the websites is not difficult and does not take
Credit— long. When placing the credit freeze, you will be provided a
Adobe Connect: personal identification number or password to use if you
http://tinyurl.com/3jshcjo choose to temporarily authorize the remove (thaw) of the
credit freeze for the release of your credit report for a spe-
cific purpose or time frame, such as applying for new credit
How to Buy a Used or for a potential employer. Removing a temporarily credit
Timeshare freeze costs $6 per bureau in Idaho and $0 -$12 in other
Adobe Connect: states.
http://tinyurl.com/3m34kw6
Brochure: Unfortunately, a credit freeze doesn’t stop pre-approved
http://tinyurl.com/3k8mj2g
credit offers or phone solicitors, but you can stop these by
Slideshow:
http://tinyurl.com/43ypz7x going to:
Youtube:
http://www.youtube.com/watch? www.optoutprescreen.com or calling 1-888-567-8688. This
v=dJJcjfAauxs will stop preapproved credit solicitations for life.
Podcast: www.donotcall.gov or calling 1-888-382-1222. Stops tele-
http://itct.podbean.com/
marketers from calling your home/cell phone number for
life (no longer only five years).
Like these tools? Provide
freedback at
http://www.surveymonkey.com/s/ A credit freeze has fees associated, but it is a very inexpen-
BHTN97Z sive option to protect against identity theft and is cheaper
University of Idaho Extension is your source for unbiased financial Information.
The University of Idaho Extension System does not sell, promote or endorse any financial product or institution. Our programs are strictly educational. Seek professional advice
from your accountant or financial advisor for specific product information. The University of Idaho provides equal opportunity in education and employment on the basis of race,
color, national origin, religion, sex, sexual orientation, age, disability, or status as a disabled veteran or Vietnam-era veteran, as required by state and federal laws.
Electronic copies of this newsletter are available at http://extension.ag.uidaho.edu/madison
and more effective than paying for a A timeshare is ownership in a sliver of real
credit protection service. It also will give estate. The idea is elusive because you will
you the peace of mind knowing your fi- not always stay in the same property or
nancial identity is safe. unit, and you are often limited to specific
dates every year. However you may ex-
Photo by Paalia and used under the crea- change “ownership credits” and trade for a
tive commons license as found here: different location or date, which may or may
http://creativecommons.org/licenses/by not be more expensive. As confusing as it
/2.0/deed.en. sounds, you actually get a deed in most
cases, which means that while you can’t
necessarily touch it at any given time, you
How To Buy a essentially own some kind of real estate.
Used Timeshare Surprisingly the secondary market for time-
by Luke Erickson shares is not very active with buyers, but
Madison County Educator has a good deal of sellers. “Why the imbal-
erickson@uidaho.edu ance of supply and
demand?” your eco-
I’m a huge advocate of buying used, be it nomic mind must be
cars, furniture, clothing, q-tips, or vaca- screaming right
tions. Now, hold on, it’s not as gross as it now—or maybe it’s
sounds—a used vacation can actually be only my mind that
quite nice. I’m talking about used time- does that.
shares, which can be a great buy, often
between 70-90% off the original price. The answer is “imperfect information.” Buy-
ers don’t know where to look, and sellers
Now, if you’ve never stayed in a time- don’t know how to sell effectively, probably
share, you might be wondering what all because the costs and benefits of such a
the hype is about. Even if you have product can be difficult to nail down. Also
stayed in one, you might be wondering, there are vast networks of professional time-
because some timeshares are nothing share salespeople, who are very good at
more than a hotel room. On the other what they do, and offer free steak dinners in
hand, some are the very epitome of lux- order to sell NEW timeshares. But, there are
ury, with majestic views, multiple bed- far fewer professionals selling USED time-
rooms, full kitchens, barbecue grills, and shares, and they are rarely accompanied by
great amenities like swimming pools, a cut of angus top sirloin. The timeshare,
saunas, tennis courts, golf courses, and that is, not the professional, though I guess
little huts where you can buy 50 cent you never know . . .
candy bars for 2 bucks. A true vacation
home, even if only for a week. Life changes such as divorce and bank-
ruptcy can be powerful incentives to dump a
“Good times, my friend,” I say as I timeshare, though I suspect, in most cases,
munch on my $2 chocolate bar. the timeshare was just too expensive in the
first place for most buyers. These and other
factors make original holders of timeshares
eager to dump them, even at large losses.
As a potential buyer, know that the sales
prices will NOT include typical ongoing ex-
Email “subscribe” to erickson@uidaho.edu
penses, like annual fees ($500 - typical), tips laying around, unless you really are
property taxes, special assessments, or that frugal, in which case I can only say,
other miscellaneous fees, all of which can “Bless you, my child.”
increase substantially with little notice.
There are also one time transfer fees ($0- Contact Luke Erickson, erick-
$200) and closing costs ($0-$2000). son@uidaho.edu, to arrange a free per-
sonalized workshop on this or any other
These are the real killers of the deal. You Personal Finance topic to an audience of
must also remember your date restrictions your choice. If your desired workshop lo-
for use, and keep in mind the transporta- cation is outside a 90 mile radius from
tion costs you will bear, in order to physi- Rexburg, Idaho, you will need to provide
cally get to your timeshare every year. Af- Luke with some cold hard cash to cover
ter accounting for these costs, a timeshare travel costs. Thanks for helping change
in Maui for $100 might actually cost you lives two cents at a time!
tens of thousands to use.
Photos by RiRi Trautmann & Ray-from-
In the secondary mar- LA, used under creative commons license
ket for timeshares, found here:
some benefits don’t http://creativecommons.org/licenses/by
transfer, like pool privi- /2.0/deed.en
leges, sauna use, op-
portunities to “extend” How to Protect Yourself
or buy additional
points. Find out before- Against Identity Theft
hand what benefits and Fraud
might be excluded.
By Audrey Liddil
aliddil@uidaho.edu
Instead of simply figuring out how much
you could afford to spend on a timeshare,
a better place to start is assessing how Scams of all types
much you already spend on annual vaca- are the fastest
tions. The idea is to get a better deal on growing crime in
vacations, not to spend more money just the U.S. The
to make the timeshare work. crimes are costing
people increasingly
So where does one find this elusive flea more money and
market for used timeshares? Some major
time for those that
real estate companies have used timeshare
divisions, but your average Joe, or Jose- are affected. Identity theft is one of the
phine, wanting a glimpse at the market largest scams currently. To guard against
might do well by starting at good ol’ fash- it:
ioned Ebay. Of course beware of sellers Guard social security numbers, credit
who lack consistent history of positive rat- and debit card numbers and computer
ings. passwords carefully.
Use your credit card and not a debit
Like any used market, beware of scams
card to purchase items on-line.
and frauds. Do your homework, and ask
questions. After all, last thing you want is Carefully retain receipts and shred be-
to show up, and find a bunch of used q- fore trashing.
Email “subscribe” to erickson@uidaho.edu
Never give out detailed financial informa- trouble that needs you to wire emergency
tion over the phone or internet unless you money. Don’t give money without hanging
have initiated the contact with the company up and calling the person‘s cell phone
and you are sure of the authenticity of the number or another family member to find
phone number or the internet web address. out if they made the call and the emergency
Never respond to unsolicited e-mail or is real.
phone contacts that ask you for this infor-
mation. We still have scams in the travel industry
Keep a copy of account numbers and con- with deals that come with a catch. Also,
tact numbers for each of your accounts in a scams with health care products that ad-
safe place. vertise the latest “medical miracle”, of
Reporting lost or stolen personal informa- course for a price. Any serious medical
tion as soon as you recognize the problem breakthrough that is scientifically based
can significantly reduce losses. will be in the newspaper or on the evening
Regularly check all bills and statements news. Don’t get involved with free trial of-
for suspicious activity and don’t leave mail in fers that are used in order to get your
unlocked mail boxes. credit card number and then enroll you in
Don’t carry important documents around ongoing fees that are hard to stop. If it’s too
with you on a daily basis. good to be true, it probably is.
Shred all personal financial information
before trashing, and shred pre-approved Additional Concerns:
credit card offers that come to you in the Do you post pictures on your social net-
mail. working sites? To protect yourself and your
As an added precaution, go to family turn off the geotagging feature on
www.annualcreditreport.com to get a free your camera and cell phone. If you post a
credit report each year and check for any fi- picture with geotagging a stranger could
nancial activity that you might not have track you on Google Maps to wherever the
made. Equifax, Experian and Trans Union photo was taken. With a little internet re-
are credit reporting companies that keep this search following e-mail addresses you used
type of information. to post your picture, others could find a lot
of information about you. This information
The University of Idaho Personal Finance could make your home vulnerable if you
website has additional information, are on vacation, or your family at risk if
www.extension.uidaho.edu/personalfinance/ you are at home or on vacation. Also, when
creditanddebt/cd_qualifying.html using social networking sites use high se-
curity settings so items you post aren’t sent
Watch out for these additional scams: out so broadly.
Fake checks used to buy something from
you or to pay you for a sweepstake you sup- Photo by Jpoirrier, used under the Creative
posedly won, etc. When cashed these checks Commons license found here:
bounce and your bank will come after you to http://creativecommons.org/licenses/by-
settle the account. Fake check fraud was a sa/2.0/deed.en
top scam in 2009.
Family help scam. Someone calls who
identifies themselves as a family member in
Related docs
Other docs by ps94506
Selberg Trace Formulae and Equidistribution Theorems for Closed Geodesics and Laplace Eigenfunctions
Views: 44 | Downloads: 0
Static Headspace-Gas Chromatography Theory and Practice (B Kolb & L S Ettre)
Views: 54 | Downloads: 0
Kocherlakota, N - Statistical Approach To Reporting Uncertainty on Certified Values of Chemical Reference Materials for Trace Metal Analysis (2002)
Views: 79 | Downloads: 0
(COINS)(BMC - GREEK 03) Poole-Catalogue of the Greek Coins in the British Museum The Tauric Chersonese Sarmatia Dacia Moesia Trace 1877
Views: 21 | Downloads: 0
Guitar World 2001-08 ACDC, Alien Ant Farm, Zeppelin, Linkin Park, Static-X, Beatles, Weezer
Views: 48 | Downloads: 0
