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How to can you avoid identity theft with the help of your credit reports?

By Derek Brown
Published: Tuesday, February 16th, 2010

It has been seen that one of the easiest ways to keep a track of your credit reports is to look for errors on them. Keeping a track of your errors also helps to avoid the risks of identity thefts. Identity thefts can be defined as the thefts where the user’s identity is misused for the personal and monetary gains of others. They have become a common problem and are one of the most common forms of thefts in the U.S and across the world. Using the identity of another person for committing various kinds of crimes has become very common.   

What is identity theft? 

There are a lot of thefts that are associated with stolen documents of the person and usually this comprises of credit cards, driving licenses and other forms of personal identification documents thefts. Hence, if some documents are misused by the thief like stolen credit cards, and are used to buy all kinds of products, is a form of identity thefts. 

Often the bill for the entire amount is charged to the owner of the credit card. However, one of the most common problems in identifying these thefts is the fact that they are discovered when it’s too late and a lot has been stolen. One can say that identity thefts can include varieties like financial identity thefts. 

In such cases the identity of another person is use with the only purpose of stealing either products or services. The criminal identity thefts are those where the name of another person is used for the thefts and they are held responsible for the crime. 

How to restrain such thefts? 

There is no doubt that such thefts cannot be located till the individual using the fake ID or personal document can be traced. Remember that if your credit card gets stolen then a lot of huge bills would be added to your account and the theft can only be understood if you receive the bill for the same. It is vital that such thefts should be reported because a lot of people don’t report it to the police and simply ask for the cancellation of the card. Monitoring your credit report helps to keep track of the bills added to your account. 

All kinds of unusual activities on the credit cards should be reported to the police, and you should not delay in reporting in such kinds of activities.

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