Protecting your credit from theft and fraud is important to maintaining your financial security and getting a post bankruptcy car loan. When managing your finances, it is important that you pay mind to any discrepancies or suspicious activity. In order to prevent bankruptcy, it is crucial that you can identify and resolve instances of theft and fraud in your credit accounts. Theft and fraud can cause all sorts of problems to your financial stability. However, the more you know about how to manage your credit and when to report theft/fraud, the easier it will be to maintain a stable financial future! In order to best protect your credit, it is important that you know the basics of credit and money management. We would recommend that you read through our money management section and credit IQ section before reading about theft and fraud. In order to prevent bankruptcy, we want to ensure that you are avoiding and reporting theft and fraud to your credit account(s).
How to Identify Theft and Fraud?
Being able to identify theft and fraud is the first step to protecting your financial well-being and getting a post bankruptcy car loan. The sooner that you can identify when someone is trying to steal your identity or attempt credit card fraud, the better. You have a much lower financial risk when theft and fraud are caught early. This is why it is so important to keep a close eye on your credit report. Using online alert tools and services, monitoring your accounts closely, or using a credit monitoring service are all common ways that people identify and protect their credit.
Some of the warning signs that you might be subject to theft and fraud include:
- Inaccurate information on your credit report
- Credit checks out of order
- Denied applications for credit that you did not apply for
- Credit cards being sent to you that you did not order
- Unexpected freezing of accounts
- Notifications of password changes that you did not make
Learn more about how to identify theft and fraud, here.
Monitoring Your Credit to Prevent Theft and Fraud.
Monitoring your credit is a crucial part of keeping your finances safe. Checking your account activity on a regular basis is a must-do. Look through all monthly activity and make sure that there are no unknown purchases or instances of fraud. If you see any suspicious activity, report this right away. Enabling things like two-factor authentication and signing up for online alerts are both great ways to protect yourself from theft and fraud. You can even use a credit monitoring service to notify you when changes are made to your credit report. It is also important to keep a close eye on your children’s/parent’s bank accounts to ensure they are not in any financial danger. Learn more about monitoring your credit to prevent theft and fraud here.
Different Types of Theft and Fraud to be Cautious Of.
There are all sorts of sneaky scams that can put you and your family at risk. Knowing how scammers operate and what things to look out for can help to keep you safe. Fraudsters that go after your identity can come in many forms. For instance, synthetic identity theft, tax identity theft, child identity theft, senior identity theft, estate identity theft, and criminal identity theft. Furthermore, there are many Internet scams that can cause your information to be stolen or leaked. These can occur over the phone, over text, through social media platforms, and even through E-mail. Generally, if it sounds too good to be true, it is! Learn more about the different types of theft and fraud in this section, here.
Prevent Theft and Fraud to Keep Your Finances Secure.
Learning about credit theft and fraud is a vital part of reducing your chances of bankruptcy. Contact us at Transcan Leasing today if you need assistance with attaining a car loan or if you have any questions.
Feel free to contact us if you have any further inquiries about credit and how to build back after bankruptcy. We are more than happy to help you during this process. Be sure to check out our other resources in the Transcan Leasing credit education center.