Saturday, November 17, 2012

Don't Have To Fix Your Credit Reports In The First Place

By Samson Dhaliwal

Identity theft can happen when someone else conducts a financial transaction using another person's account. The scope can include the opening of new bank accounts, obtaining loans, writing checks, using existing credit cards and many more. Many times, an individual's personal information can be accessed through the identification of the social insurance number (SIN), date of birth, bank account numbers and mother's maiden name. Knowing where scammers obtain your personal information is very important. Bank statements can be stolen from mailboxes and lost wallets may contain credit card information apart from the card itself. The use of public computers while conducting financial activities is also unsafe.

Protecting our finances should always be a top priority, no matter what age you are. Fraud and unfair business practices victimize seniors frequently through phony surveys, door-to-door scams, bogus lotteries, and many more. In order to protect oneself from deception, certain information must always remain confidential. Social insurance number (SIN) must only be shared with your employers, the federal government and other company personnel in charge of payroll tax preparation. On the other hand, the personal identification number (PIN) must not be shared with anybody. Law-abiding citizens will also not request this information from you. Yet as a private person and consumer there is still plenty you can do yourself, at little cost but your time and attention. As an example if you are an auto buyer looking for auto financing in Edmonton Alberta or simply just a private wanting to check your credit record . Do not go to and fill out a credit app or finance application on any site that comes up in your Google searches. Rather go to well known, reputable and trusted credit check services such as Equifax or Experian or Transunion rather than taking a chance with a "free service". The major auto dealers use these services and so should you. Its no bargain to use a "free credit report " service, only to find out later that your personal data was harvested by the "wrong hands" . Some bargain. Your own personal financial information can well be used to conduct theft and crime against yourself and your family.

Fake charities are used by scammers to get money from helpful individual. Again, never reveal your credit card information or allow someone to collect a check from your home. If you suspect that the requests for donation is a dishonest one, research about the institution or ask them for contact details. It would also be possible for the requester to mail a pledge. Often, when you are pressured to give money right away, be wary that this is fraudulent activity.

Keep all information, which is financially significant, private. This will include combinations like your social insurance number (SIN), personal identification number (PIN), access codes, verification question and answers. SIN is used for gathering information which is related to income with regard to personal income taxes. Under the law, SIN may be given only to the following people: the federal government, your employer, and people preparing payroll slips on your behalf. Banks, credit unions, investment dealers and trust companies belong to this category. Upon application of a loan or mortgage giving one's SIN is optional. It must never be disclosed to someone who requests for it through an e-mail or call. Authorized personnel will not ask under through these methods.

As a general rule for protection, something that is too good to be true probably isn't. An inheritance from an unknown aunt or uncle, a prize in a contest that you've never joined or even a business venture that promises huge returns on investments can just be schemes to get to mislead you. Someone might call; email, fax, and mail to inform you of such but do not be deceived. Use good judgment when using the Internet when looking for jobs because not all of them are true. Be particular about employers who ask you to transfer money from one bank to another, the receiving bank often in another country. Another is, most legitimate online jobs will not ask for upfront fees to be hired. Keep these in mind.

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