# Protect Your Credit



## Serendipity2 (Feb 22, 2009)

Many expats living overseas tend to relax and let their guard down. If you're an American one of the more devastating things that can happen to you is to have your identity stolen. You'll likely not know about it for months but when you DO find out you're left to clean up the mess. And it's not a case of will your identity be stolen but when. Last year, according to the government, over 15 million people's identity was stolen. I would guess much higher - since when did the government ever tell us the truth?

So, what can you do about identity theft? If you already have a few credit cards you won't be needing more and since most of you will not be buying a car or home overseas there is an easy answer. It is NOT "Life Lock" or similar programs that monitor your credit. The answer is FREEZE YOUR CREDIT. You can do it online and you need to do so with each of the three credit reporting agencies - TransUnion, Experian and Equifax. Google each of their sites and you can do online. It will cost you $10 per credit reporting agency to freeze your credit. What this means is that NO ONE [including you] can open a NEW line of credit. Those you already have are fine and everything continues as it always has but NEW lines require you to"thaw" your credit. This can be done very simply by calling them, giving them your PIN number [you'll get a PIN number and special telephone number to call when you want to thaw or freeze] If you need a new line, call them and either thaw for a short period of time - a few hours to a day or so OR tell them that ONLY such and such merchant, car dealer, mortgage lender will be accessing your account and once done - re-freeze your credit. It's a small hassle to do but compared to 2-3 years and $1500-$3000 to clean up the mess, consider it money well spent.

Do a Google search on the subject of identity theft, the impact it will have should you be a victim, and freeze your credit. Pass the word to ALL of your friends and family to do the same. Don't become a victim of identity theft 

Serendipity2


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## gleeglee (Jun 18, 2009)

yes thai's are learning this one very quickly


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## Serendipity2 (Feb 22, 2009)

*Identity Theft - A Nightmare for Expats*



gleeglee said:


> yes thai's are learning this one very quickly



gleeglee,

This isn't for the benefit of Thais but Americans. I suspect the same holds true of Europeans but I don't know. Identity theft is a HUGE problem and only going to grow since few understand how vulnerable they are. Especially if they're living overseas and don't monitor their credit. Someone could steal their identity, open a bunch of accounts, max them all out and the expat is living with the job of cleaning up the mess. 

It's bad enough living here in the states when it happens as you'll find out much sooner. When you're living overseas all of a sudden your credit cards aren't working and you're stuck. Trying to sort this out from Thailand or some other foreign destination will be much harder and cost far more than if they were still living in the USA. It's easy to do and protects you from a mess. Far easier to freeze your credit. You can do it online, by telephone or by mail. An ounce of prevention is worth a pound of cure. And then some!

Serendipity2


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## gleeglee (Jun 18, 2009)

Serendipity2 said:


> gleeglee,
> 
> This isn't for the benefit of Thais but Americans. I suspect the same holds true of Europeans but I don't know. Identity theft is a HUGE problem and only going to grow since few understand how vulnerable they are. Especially if they're living overseas and don't monitor their credit. Someone could steal their identity, open a bunch of accounts, max them all out and the expat is living with the job of cleaning up the mess.
> 
> ...


SORRY I was saying that Thai people are learning how to steal peoples identity and my cards were all cancelled when i first came to Thailand. Three times in three months will no access to funds.


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