One of the biggest worries for young people is to have a solid financial plan and have something come up that is out of their control. One of these issues is identity theft. This can be a worrisome and frustrating time, but having a handle on how to deal with the issue can save a person time, money and stress.
Take quick action
When a person is first made aware that their identity may have been stolen, there are some steps that they will want to make a priority.
- Get a copy of your credit report – One of the first ways to learn if you have an identity theft problem is to look over your credit report for abnormalities.
- If you locate any, contact proper authorities – If the identity was indeed stolen, speak with police (if a wallet was stolen), as well as financial institutions. They may be able to rectify the situation.
- Change passwords online – Changing passwords can help minimize the damage from someone stealing an identity, and could help ensure personal finance problems are only temporary.
- Keep financial accounts in check – Look to make sure there hasn’t been any unusual activity on bank statements.
- Ensure Social Security number is secure – If a person’s Social Security card was stolen, speaking with the federal government may be beneficial. Keeping this, as well as other financial documents in a safe place can help prevent this later on.
- Monitor social media/email accounts – Keeping an eye on a person’s social media by looking for unusual activity may also be a good idea.
If a person goes out of their way to take care of the problem as soon as they see something is wrong, it may minimize – or even eliminate – problems.