Personal Finance 4 The People is pleased to team with others who are able to share their expertise in various areas. We hope to combine our efforts to bring a greater financial effort in order to help you reach YOUR Financial Independence. Today's guest post comes to us from Karon Powell.
One type of financial scam is identity theft. This happens when someone else uses your personal information such as your social security number or bank account information to get credit cards, buy a home or raid your bank account. A simple way to protect yourself from identity theft is to check your credit report regularly. Once a year you are entitled to a free copy of your credit report. You have probably seen commercials and advertisements for free credit reports but a credible source is located on the Federal Trade Commission’s website, just click the included link. Once you receive the report review it and follow the instructions to dispute anything that may be incorrect. Another simple way method to protect your identity is to shred any piece of paper that contains identifying information.
A second type of financial scam is investor fraud. There are numerous types of scams involving fake investment firms offering unbelievable returns on an investment of your hard-earned money. If something appears too good to be true it most likely is too good to be true. It can be really hard to pass up what appears to be a windfall, especially when the person or persons offering the “tip” are church members or people you trust. Before giving someone your money do some research and do not give away any of your identifying information. Most businesses must register with the Secretary of State in their area. The Secretary of State’s website is a good place to start when investigating whether a business is legitimate. In order to find out if there have been complaints filed against a business check with the Secretary of State for your area or the Better Business Bureau.