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Veterans - Check your credit reports NOW!

 


CrimsonStrange
Source: Consumeraffairs.com

The next piece is a follow-up from the first story, located here


Quote:
May 23, 2006

In a failed effort to catch the people who stole 26 million veterans' private and personal information, authorities waited almost three weeks before telling anyone about the theft.

The personal data fell into the hands of thieves May 3 after a burglary in Montgomery County, Maryland...


(See above links for full stories)

Personally, I think most of these massive data thefts are setups - people are offered great sums of money to "misplace" a laptop or report it stolen. I mean, if you knew that you could steal & assume the financial identities of lots of people who, because of the companies they had accounts with, were guaranteed to have great credit for only, say, $10,000... wouldn't you consider that to be a very profitable expenditure? If you knew you could buy cars, houses, empty out hefty bank accounts, and possibly follow trails to other sources of income, like safe-deposit boxes, stocks, bonds, etc?


TO ANYBODY READING THIS WHO MAY BE AFFECTED - You might want to get in touch with at least one of the major credit bureaus, like

Equifax - http://www.investigate.equifax.com
Phone: (800) 210-8760

Experian: http://www.experian.com
Phone: (800) 509-8495

TransUnion: http://www.transunion.com
Phone: (800) 916-8800 (8AM-8PM EST)

Idea I'd visit the website first, so you'll know what info you'll need to supply them with.

And make sure whoever you contact about this is told to get in touch with the OTHER credit bureaus to verify that they all have the same information.

An ounce of prevention is worth a pound of cure, as they say.
Can't hurt to be cautious.


Last edited by CrimsonStrange on Wed May 24, 2006 3:12 am; edited 1 time in total
Traveller
Even before you do that, you may wish to follow the instructions actually given by the Veterans Administration, and first go to http://www.va.gov and http://www.firstgov.gov.
CrimsonStrange
Duh... yep. Embarassed
You're right, Traveller.
I guess I figured people would just read the ConsumerAffairs.com links and go from there.
Traveller
No problem.

In addition, every American (not just veterans) should be aware that they are entitled to one free credit report, annually. The information about the three major credit bureaus is good, if you suspect that there actually may have been fraud, but it's possible to check things once a year, as well, at http://www.annualcreditreport.com, which is the only legitimate link for truly free credit reports. Many places do a lot of advertising on TV and in your credit-card statements, but their "free" credit reports are contingent upon something else, such as a paid membership in some other kind of monitoring program. For further information, see the Federal Trade Commission's statement at http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm.

Getting back to identity theft: Another thing to do if you find that you have been a victim of identity theft is to tell your credit-card companies and the bank where you have your checking account to list your accounts as "closed due to fraud." If you only close the accounts without including that notice, people who do future credit checks (e.g. when you need to buy a car or house) could think you're some kind of deadbeat because of a bunch of unexplained closed accounts.

Getting a little off the topic of veterans, but keeping with ideas for protecting your credit (I used to be an AICCCA-certified credit counselor), I also would like to warn people against the MANY lending institutions that are advertising that you can get a wonderfully better life by paying off your high-interest credit cards with a lower-interest, home-equity loan. Don't do it! The only reason one should use a home-equity loan is to improve that value of one's home. When you use them to pay off credit cards, you take unsecured debt (the credit cards) and make it secured...against your house! Then, if you don't also change your spending habits and get into further trouble where you can't keep up the payments on the home-equity loan, you put your house into jeopardy (although the degree of jeopardy varies from state to state). TV and radio ads for these loans have reached epidemic proportions. No matter what other measures you take, if you continue to spend more than you make, you will always be in debt.
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