STUDENTS - YOUR IDENTITY


STUDENTS - YOUR IDENTITY
Credit Reports - Your Financial Identity
	You probably already know that it’s important to pay your bills on time, to avoid late fees and other penalties. But do you also know that when you do not pay your bills on time, that “late” status is probably recorded by one of three credit reporting agencies in a credit report about you? And, these agencies have the right to share such information with others when you apply for credit, insurance, or jobs (in the case of jobs, with your consent) in the future.
	It is a smart idea to review the information that credit reporting agencies collect about you to make sure that they have your information right and to determine if perhaps an imposter has taken out credit in your name (a popular form of identity theft). You are entitled by law to one free credit report a year from each agency. See http://www.annualcreditreport.com.
Minimize Your Risk of Identity Theft
	Identity theft is a crime that occurs when a thief uses someone’s personal information to commit fraud or theft. Typically, an identity thief uses another’s personal information to open a credit account in the victim’s name, or takes over an existing account and runs up fraudulent charges. The victims may not find out about the theft until they realize that their credit reports show unpaid balances. This could threaten their ability to secure a loan, a mortgage – even a job!
	While you cannot completely protect yourself against identity theft, you can take steps to minimize your risk. Below are suggestions, including many from the Federal Trade Commission, for minimizing such ID theft risk:
		Do not give out personal information unless you’ve initiated the contact or are sure you know who you’re dealing with.
		Do not give out personal information unless you’ve initiated the contact or are sure you know who you’re dealing with.
		Place hard-to-guess passwords on your credit card, bank, and phone accounts where possible.
		Secure personal information in your home.
		Don’t carry documents that contain your personal information, such as your Social Security number, unless absolutely necessary!
		Secure your computer with anti-virus software, strong passwords, promptly applied security patches, and a firewall.
	For more information on identity theft, including how to tell if you’ve been victimized and/or what to do if you are a victim, visit http://www.consumer.gov/idtheft. And, if you believe you are a victim of identity theft, please contact the Penn Police at 215-898-4485.

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