Disability Resource Group

Financial Safety Tips

How to Avoid Identity Theft  

1. Do NOT give your checking account number over the phone  

2. GUARD your Social Security Number You are not required to give it at medical offices (they only ask you so they can collect on any unpaid bills

3.  Do NOT carry a checkbook with you.  If it is stolen, YOU could be arrested.  There is less protection for check bounces and fraud, so when a criminal bounces checks at a merchant, the merchant can still go after YOU.  At most, carry one blank check in your wallet. Have re-ordered checks sent expedited / secure mail.   

4. Do NOT answer the phone if you don’t know who is calling.  

5. Be wary of PHISHING or any e-mail claiming to be from a bank or financial institution. Phishers will duplicate graphics, wording and may even include some of your personal information to get you to enter account info.  They have even set up false Toll Free Numbers!   More criminals than ever are imitating brokerage houses.  If someone gets hold of your brokerage account name and password you have NO legal recourse.    

Other Common Scams to Avoid

1. CREDIT SCAMS.  Do not use much-advertised “free credit reporting” services because you will pay.  Your credit report is truly free from multiple sources including www.annualcreditreport.com.  Also, use PAYPAL, a free online payment service that also offers credit monitoring under their basic package  

2.  MODELING. Many children and parents fall for these scams.  Don’t respond to an “agency” soliciting modeling contracts or classes for kids or young adults.  

3.  EXTENDED WARRANTIES.  Don't buy them, they are the biggest moneymakers for many companies.  

4.  HEALTH CLUBS.  Don’t sign extended membership contracts, no matter how lucrative the offer seems, most people will not take full advantage of the club for that long.  

5.  CHECK-CASHING.  Avoid Payday Lending Services or Check-cashing services. They charge enormous interest rates (387%!!) and prey on people with disabilities or others on fixed incomes.

For more help or information on improving your financial viability, visit The Center for Financial Innovation and Independence / Credit-Able.