Identity Theft In Usa On The Rise. Get A Free Credit Report To Prevent It

Online, June 1, 2010 (Newswire.com) - Do you know how many identity thefts occurred in 2007 in the USA? 8.4 million. And Europe and Asia are not far behind. According to Dan Blum "The rising number of cases involving identity theft meant some consumers were losing confidence in online financial services." And one of the ways to do this is t get a free credit report.
The total fraud amount in 2007 was 49 billion dollars. To avoid becoming another statistic, make sure you are protected and check your credit report monthly. This is the easiest way to avoid having your identity stolen.
Checking your free credit report is essential as it reflects not just your financial stability and status but your personality as well. A person with bad credit rating is often considered a financial risk to financial institutions and employers. A bad credit history is usually the reason why people fail in securing loans for a car, house credit card etc.
So, What Really Is A Free Credit Report?
This report should reflect your financial stability and status. Loans, mail order agreements, credit card statements and other statements from banking facilities are reflected on this report. Moreover, this report also contains or keeps track of your missed or late payments, and repayment status. Today, when applying for a loan, financial institutions or banks check first your credit report. This report is often used by these institutions to determine or weigh your financial capacity and credibility. If someone has been accessing your account without your knowledge, you'll be in for a surprise should you need a loan or a mortgage.
Why Is It Important?
"Often, victims of identity theft have no idea their credit is being used or destroyed until they apply for a loan and pull their credit score. So pull your credit report now, and make a plan to check it regularly" says financial expert David Bach.
Checking this report does not only help you correct possible mistakes or discrepancies. It is also the first step to repair or improve your report and prevent fraud.
Once you get your free credit report, you should verify whether the information in it is correct. If you fail to correct discrepancies or wrong information, the information reflected on the report will reflect in your credit history for money lenders to see. In this case, your chances of getting loans at lower interest rates are slim as people with poor credit rating are considered a financial risk.
Allow your credit report to tell you whether you have been a victim of identity theft or not.
Check your free credit report now! Don't let a bad credit score impact on your financial futurehttp://www.myfreecreditreportgov.com/