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| Six Tips to Keep Identity Theft in Check |
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| November 02, 2011 - Local News |
(ARA) - Nearly 251,000 identity theft-related complaints were made to the Federal Trade Commission (FTC) in 2010. So it's no surprise that - for the 11th straight year - identity theft ranks No. 1 as the biggest concern among consumers.
The FTC says as many as 9 million U.S. residents' identities are stolen each year. The most common types of identity theft involved criminals stealing information to apply for federal benefits such as Social Security, and lifting credit card data to make millions of dollars in unauthorized purchases. Thieves harvest information by raiding mailboxes, Dumpster diving, picking wallets and hacking into personal data over the Internet.
Americans make it far too easy for identity thieves, according to Charles Valinotti, senior vice president with insurer QBE. "Victims are usually left with a bad credit rating, which may take years to repair," he says. "Just the process of restoring your good name could cost thousands of dollars."
Here are six tips to help avoid becoming the next identity fraud victim:
1. Foil the Dumpster divers. Shred all old bank and credit statements and "junk mail" credit card offers before trashing them. "This can be time-consuming and inconvenient," Valinotti says, "but not nearly as much as having to deal with an empty bank account or credit card charges you didn't make."
2. Guard your Social Security number. Don't have it printed on your checks or any other document available to the public.
3. Regularly monitor your credit report. Make sure the information it contains is accurate. If possible, sign up for a service that lets you know if someone is applying for credit in your name.
4. Don't carry extra credit cards or other identity documents, except when needed. Make a photocopy of all the items you carry in your wallet, especially your driver's license and credit cards. That way, you'll have all account numbers, expiration dates and phone numbers if your wallet or purse is stolen.
5. Never give a credit card number or personal information over the phone unless you initiated the call. Examine charges on your credit card statements before paying them. "Take bill payments and checks to the post office for mailing," Valinotti advises. "They can be easily stolen from a home or street mailbox."
6. Check with your homeowner's insurance provider to see if it offers identity fraud protection. This insurance provides coverage for expenses you incur as a direct result of identity fraud, such as notary costs, certified mail, loan application charges, attorney fees and lost income from time taken off work.
Valinotti says a little caution and care go a long way in protecting your identity. "We want to see identity theft lose its ranking as the most serious consumer issue," he says.
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| Disastor Survivors Have Questions About Mortgage Pay Offs |
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| June 15, 2011 - Local News |
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COLUMBIA, MO - June 14, 2011 - (RealEstateRama) - Many disaster survivors may be faced with questions about mortgage payoffs.
Some applicants may receive insurance proceeds and their bank or mortgage holder may require the total mortgage be paid in full. This is known as a forced payoff, possibly leaving the applicant with an unmet need or unable to repair their home.
In the event of being forced to pay off a mortgage, the applicant may become eligible for FEMA home repair assistance. The applicant would need to submit a letter from either the lender or insurer advising that the payoff was required and not optional. FEMA would require the applicant to submit a copy of the insurance settlement.
A mortgage payoff is when the applicant chooses to pay their entire mortgage with insurance proceeds. Under this circumstance, the applicant will not be eligible for FEMA home repair/replacement assistance to avoid duplication of benefits.
The Small Business Administration (SBA) can refinance all or part of prior mortgages that are evidenced by a recorded lien, when the applicant (1) does not have credit available elsewhere, (2) has suffered substantial uncompensated disaster damage (forty percent or more of the value of the property), and (3) intends to repair the damage.
Homes - Homeowners may be eligible for the refinancing of existing liens or mortgages on homes, in some cases up to the amount of the loan for real estate repair or replacement.
Businesses - Business owners may be eligible for the refinancing of existing mortgages or liens on real estate, machinery and equipment, in some cases up to the amount of the loan for the repair or replacement of real estate, machinery, and equipment.
The first step on the road to recovery is registering with the Federal Emergency Management Agency (FEMA). Registration may be completed online at www.DisasterAssistance.gov, by smartphone through m.FEMA.gov, or by calling FEMA?s toll-free registration line at 1-800-621-FEMA (3362). If you have a speech disability or hearing loss and use a TTY, call 1-800-462-7585 directly; if you use 711 or video Relay Service (VRS), call 1-800-621-3362. Multi-language assistance is available. Telephone registration is available daily from 7 a.m. to 10 p.m., until further notice.
FEMA mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.
The U.S. Small Business Administration (SBA) is the federal government primary source of money for the long-term rebuilding of disaster-damaged private property. SBA helps homeowners, renters, businesses of all sizes, and private non-profit organizations fund repairs or rebuilding efforts and cover the cost of replacing lost or disaster-damaged personal property. These disaster loans cover losses not fully compensated by insurance or other recoveries and do not duplicate benefits of other agencies or organizations.
Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 1-800-621-FEMA (3362). Those with a speech disability or hearing loss who use a TTY call 1-800-462-7585; or use 711 or Video Relay Service (VRS) to call 1-800-621-3362. |
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