Identity Theft ? Additional Protection For Soldiers On Active Duty
|
Congress passed the Fair Credit Reporting Act several years ago in an attempt to smooth out some problems in the credit reporting industry. The best known provision of this Act is one that permits Americans to receive a free copy of their credit reports from each of the three main credit bureaus once per year. So far, this provision of the Act has been a success. A lesser-known provision of the legislation is one that is intended to protect active duty military personnel from being victimized by identity theft while they are out of the country.
Identity theft is a crime committed by someone who obtains personal information from a victim and then uses that information to obtain loans or credit in the victim's name. While the thief is making off with the money, goods, or services, the victim is left with the bills. Being a victim of identity theft can be difficult for anyone, as it often takes several years to undo the damage done to the victim's credit report. Identity theft can be even more difficult if the victim is an active duty soldier serving outside the United States. The average victim of identity theft takes nearly a year to discover the crime; it will undoubtedly take even longer if the victim is outside of the country. The amendment to the Fair Credit Reporting Act allows active duty personnel who are away from their main duty stations to place an "active duty alert" on their credit reports. The presence of this alert requires any creditor to verify the identity of the borrower prior to granting credit in his or her name. Since it isn't usually possible to contact a soldier who is outside the country, this effectively freezes the credit report of the individual until they return from overseas service, thus protecting them from identity theft.
If you are serving the country in a military capacity, away from your active duty station, you may enact an "active duty alert" by contacting one of the three credit bureaus: Experian, Trans Union, or Equifax. It is only necessary to contact one company; that company will inform the other two. At that time, you may also designate a personal representative who will act on your behalf while you are away. This alert is active for one year, and may be renewed.
Military personnel who are serving the United States in a time of war have enough to worry about without having to be concerned about identity theft. The Fair Credit Reporting Act leaves them with one less thing to worry about.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to establishing credit, debt consolidation and credit counseling, and HomeEquityHelp.com, a site devoted to information regarding mortgages and home equity lines of credit.
|
|
|
Negotiating Rates With Your Credit Card Company
Ok, let's face it, everybody hates high credit card rates, and they drain hard earned money out of your wallet. As a valued consumer, it is apparent that you learn how to negotiate to get the absolute best rate that you possibly can. The good news however is that it doesn't have to be a difficult or time-consuming process. In fact, it can be very easy indeed if you know what you're doing. In this article we will discuss the ins and outs of credit card negotiating to ensure that you get the best possible rate with the least amount of effort.
Finding And Applying For The Right Credit Card Offer Online
Anywhere you go online nowadays, you will see a multitude of ads for credit cards. Some offer low interest rate for an introductory period, or bonus frequent flyer miles while others offer real discounts on new vehicles and equipment. Trying to find one that suits your needs and lifestyle can be a little overwhelming.Before you dive on in, ask yourself some key questions about your needs:1. What is my credit history situation?The first and foremost question when applying for a credit card is going to be your credit rating. Have you had credit opportunities in the past, and if so, how have you handled them? Did ...(related: Credit)
How To Read Your Credit Report
The Fair and Accurate Credit Transactions Act, signed into law on Dec. 4, 2003, gives every American the right to a free credit report every year from each of the three major credit bureaus -- Equifax, Experian and TransUnion.What the law doesn't do is give every American the ability to read their credit report. Not one word in the law says the credit bureaus have to write it in plain, easy-to-understand language. Go to http://www.ftc.gov and click on consumers then credit and read it for yourself. Hopefully you'll stay awake .While all credit reports follow a basic format, some vary so what you are about to read doesn't apply across the board. If you didn't get it directly from one of the bureaus mentioned above, your best bet for a translation is the source providing your copy.Here is the four part skele...(related: Credit)
How Does A Creditor Determine Whether To Grant You Credit?
Credit 101How does a creditor determine whether to grant you credit? For many years, creditors have been using credit scores a...(related: Credit)
Credit Cards - Why Prepay?
With prepaid credit cards, you get the practicality of plastic while choosing exactly how much debt to charge. By taking charge of your personal financing, you determine your own limits, to the penny, and change them any time you need t...(related: Credit)
Bad Credit Loans For Those Who Seek Alternatives For New Or Old Car
You can still save money on a Bad Credit Loan by comparing rates, checking out multiple policies, and ...(related: Credit)
Identity Theft ? Additional Protection For Soldiers On Active Duty
Congress passed the Fair Credit Reporting Act several years ago in an attempt to smooth out some problems in the credit reporting industry. The best known provision of this Act is one that permits Americans to receive a free copy of their credit reports from each of the three main credit bureaus once per year. So far, this provision of the Act has been a success. A lesser-known provision of the legislation is one that is intended to protect active duty military personnel from being victimized by identity theft while they are out of the country.Identity theft is a crime committed by someone who obtains personal information from a victim and then uses tha...(related: Credit)
Inflexible Friends And Plastic Assets, Why Money Isn?t Buying Love Anymore
Consumers reject financial advice in favour of financial frivolityIt would appear that even though their "friends"...(related: Credit)
Credit Education
Having credit education is like knowing how to read. It will be necessary throughout your life.Once you learn it, you will know it forever. Once you establish good skills, they will help you to get ahead throughout your life.So, it is vital to get the education you need or to provide this education to your children.Did you make mistakes along ...(related: Credit)
Tired Of Being Broke?...learn How To Force Banks To Give You Money!
Imagine...obtaining credit that's incredibly easy...opening doors of opportunity you never ev...(related: Credit)
What Is A Fico Score And How Do I Make It Work For Me?
Whether or not you receive a loan and what interest rate you get on your credit card may be determined by something called a FICO score. Named for Fair, Isaac & Co., a California-based company that developed the credit score, the FICO score is the most widely used scoring method to determine credit worthiness.Scores range from approximately 300 to 800 and are provided to lenders by the three credit bureaus, Equifax, Experian, and TransUnion. You also have access to your FICO scores, but will be charged a fee by each credit agency providing your report.According to Fair Isaac, the credit scores of the American public...(related: Credit)
site-map - Copyright © 2007 | Contact Webmaster | All Rights Reserved | Free Articles and Information | Credit