Identity theft?

[sharkall2003]

Is there a way to prevent identity theft? Like a government agency that can call you if any account is opened under your name?

[zen]

There are lots of companies that will SELL you a service like that, for a constant fee, of course.... and if you read their small print, even the ones who claim a guarantee really don't promise much.
The best way to protect your identity is:
1) shred all your garbage
2) don't give out your SS number to anyone
3) Use credit cards (not debt cards) for any transaction you can
4) Don't buy stuff online unless you know and trust the retailer (joe-bob's pseudo-olympic fitness supply clearinghouse is a no-no)
5) and just check all your transactions when you got your Credit Card bill so you can contest them as soon as you notice them

[sharkall2003]

There are lots of companies that will SELL you a service like that, for a constant fee, of course.... and if you read their small print, even the ones who claim a guarantee really don't promise much.
The best way to protect your identity is:
1) shred all your garbage
2) don't give out your SS number to anyone
3) Use credit cards (not debt cards) for any transaction you can
4) Don't buy stuff online unless you know and trust the retailer (joe-bob's pseudo-olympic fitness supply clearinghouse is a no-no)
5) and just check all your transactions when you got your Credit Card bill so you can contest them as soon as you notice them

Okay, well I don't use a debit card because I've always feared identity theft. I burn all my garbage, I don't give my social security number out, but how can I prevent someone from opening new accounts?

[sharkall2003]

How is a credit card safer than a debit card? Are checks safe, or should I just pay in cash all the time like I already do? Also, would it be safer to have a credit card through the credit union, or through someone like Capital One?

[zen]

credit cards are better, because if someone gets your card number (most common way is employees at restaurants and stores stealing the number when you give them the card), when charges get put on your credit card, basically, the credit card company has to come after you for payment because it was THEIR money that was taken (they will say that it's your money since it was in your name, but there is a difference). It makes it more difficult for them, as opposed to a debt card, where it's YOUR MONEY that that the thief takes, and the bank's customer service people will act all sympathetic but basically take the attitude that it sux to be you and you will have to jump through a million hoops because it's not their money that got stolen.

How can you prevent someone from opening new accounts? If they don't get your SS number, it's not easy. I dunno though. I don't worry about it much. There are laws that protect you. If someone opens up an account in my name and gets much of the information wrong, it makes it difficult for the institution to put a viable lean on my property, because in order to execute it, they still have to prove it was me that opened the account if I fight them. In fact, you can sue them for damages and ruining your credit for not doing due diligence for verifying who it is that opened the account. That's why you usually have to provide A LOT of information to open accounts these days.