Recently the personal information of our veterans was compromised. There are approximately 26.5 million names in the database at risk. This means that they could become the victims of identify theft.

In 2005 the average loss experienced by identity theft victims was more than $6,000.00 as determined by a study completed by Javelin Strategy & Research. They indicate it cost the victims approximately $400 to remove inaccurate information, close or change their credit card accounts and complete all the necessary documentation.

There are a number of companies who help those with resolution of identity theft issues. They do some or most of the work to file police reports and gather pertinent information including making phone calls. Check with your bank, credit union, insurance company, automobile insurance as well as homeowners and renters insurance to see if there is a rider on your policy that will pay for the service. There are a few companies who offer services directly to the public.

Check out the information on http://www.consumer.gov/idtheft/ for relevant information that will help you. I suggest you check out the available sources including your creditors prior to having a problem. While caution with your credit information is a prudent choice, you should be prepared in the event you have a problem.

Nan is an Accountant and Real Estate Professional with experience in the credit area. For more information and resources on IdentityTheft

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