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Identity theft is more common now than it ever was. In fact, hundreds of people fall victim to identity thieves every month throughout the United States alone.

But what is identity theft? More commonly known as identity fraud, this involves the stealing or getting personal data about another person and using it illegally for his personal gains at the expense of that person, who, by now is already a victim.

Basically, these people steal personal information like complete name, age, address, gender, work, family, personal history, etc. These information seem to be harmless at first glance. But some thieves have found away to take advantage of simple and common things like these because their success rate is actually quite large. If, for example, they recognize someone as an owner of a good credit score, they will think of a plan to get information from him. They can utilize a lot of techniques: they can check his social networking account like Facebook or MySpace, or they can even befriend that person. Afterwards, once they have sufficient data, they will now go about to create an account using that person’s name.

Once the account is created, they will then apply for loans, mortgages, and debts. Of course, since the name is a good credit holder, the banks and lenders will give them the applied amount. A few months later, agents of these lenders will go to the person asking him to pay for the money owed.

If you check credit rating on a regular basis, you will actually avoid any situation like this. If you check credit rating on a regular basis, you will be able to see the condition of your credit, as well as the exact number of loans you applied to, and the number of deductions that you know are legitimate. If, for example, an attempt is made to get money from you, you can immediately track this down because you will see this on your credit rating report.

Once you realize this, you need to immediately contact authorities in order to get whoever is behind the attempted robbery, and you can contact the bank so that they will be notified and they will be able to close the account before it is too late.

At any rate, this wouldn’t be possible if you do not check credit rating regularly. Bank and creditors generally give you a copy once every year, but they will provide you with one upon request.





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