Identity theft is one of the fastest growing crimes in America. Everyone is susceptible, and by the time you find out your identity has been stolen, it is usually too late. The longer it takes to detect fraudulent activity, the higher the cost is for you to correct it.

There are some things you can do to lessen your chance of identity theft.

• Retrieve your mail promptly. Any personal information can give a criminal what they need to steal your identity. If you are away, get someone to pick up your mail or have the post office hold it back.
• When throwing out anything with personal information, make sure it is well shredded. There is no law making it illegal to take your garbage once you throw it out.
• If you purchase an expensive item, break down the boxes so people don't see the expensive product you bought.
• Review bank and credit card statements for suspicious purchases and activity. If you move bills and banking statements online, there is less of a paper trail, but information can still be stolen online. Protect your computer with specialized identity theft software.
• Don't give out your social security number. This number is for tax purposes only.
• Carry only the credit cards you need. You may not notice an unused missing card until its too late.
• Keep your P.I.N. number private, and your credit cards in view at all times when purchasing something.
• Don't give out any personal information on the phone or on line unless you are the one who initiated the contact.
• Never e-mail personal information that could be used to steal your identity.
• Make sure the sites where you do financial transactions are secure and that you use strong passwords with a combination of numbers and letters.
• You may want to monitor your credit report regularly and ask the credit bureaus for names and phone numbers of credit granters with whom fraudulent accounts have been opened.

Even when you do all you can to protect your identity, sometimes it is just out of your hands. Computers can be stolen from financial institutions, bank websites can be hacked, databases can be leaked, and employees can steal information putting your identity at risk.

Victims of identity theft must act quickly to minimize the damage. It is very important to keep good notes of all conversations and records of all correspondence with your financial institutions and law enforcement agencies, including a log of the names, dates and phone number of persons you contacted. You should confirm the information in writing, sending your letters by certified mail or return receipt requested, will provide you with a record of your correspondence.

• File a police report with local police or police where identity theft occurred. Get a copy of the police report and retain for your records.
• For any accounts that have been fraudulently accessed or opened, contact the billing inquiries and security departments of the appropriate creditors or financial institutions. Close these accounts. Confirm your contact in writing. Ask that old accounts be processed as "account closed at consumer's request." Having a "card lost or stolen" reference, can be interpreted as blaming you for the loss. Carefully monitor your mail and credit card bills and report immediately any new fraudulent activity to credit granters.
• If a loan, credit or utility service account has been opened fraudulently in your name, you now can obtain a copy of the application used and a record of transactions or charges associated with that account. The information you learn may be useful in determining what personally identifying information was stolen, help clear your good name and credit, and even lead to the identity of the thief.

Consumer and privacy advocates suggest not paying any portion of a bill which is a result of identity theft. This will involve disputing credit card charges with the card company by writing to the address for "billing error" disputes. Follow the directions given by the credit card company for disputing charges. This information must be provided by the company. Your credit rating should not be permanently affected, and no legal action should be taken against you as a result of identity theft. If any merchant, financial institution or collection agency suggests otherwise, simply restate your willingness to cooperate, but don't allow yourself to be coerced into paying fraudulent bills. Report such attempts to government regulators immediately. You may want to consult a lawyer to determine legal action to take against creditors and/or credit bureaus if they are not cooperative in removing fraudulent entries from your credit report or if negligence is a factor.