With every aspect of our lives migrating to the electronic world, it is hard not to think about your personal security. Not only is everything being done through new technology and equipment, data is being stored which leaves an opportunity for hackers to access information they typically wouldn’t be able to retrieve. Banking, health and client data is no longer physically kept in files. Are there ways you can lessen your risk of your identity being stolen? It seems that everywhere you turn there is a risk for this to happen. Your social security number, credit card, address, email or phone number can all be used to steal your identity and hack into your accounts.

Online Shopping

Online shopping is on the rise. People are no longer getting out and going to the mall, they rather purchase what they need from the comfort of their couch or desk. The problem with this, is that you are literally handing over your identity and all of your personal information to these vendors. Make sure when you are purchasing off the internet, you are buying from a reliable source and they are using secure means to process your transaction. Shopping overseas or from a lesser known vendor can heighten your risk for identity theft. The reason for this is that they don’t have the financial backing or power to make sure their systems are secure.

Credit Card Purchases

Using a credit card in general opens up your chances of getting hacked. You could simply go to a gas station or even an atm and swipe your card and be a victim of identity theft. There are machines that can be put into card swipers that read the numbers and information to allow hackers to have access to it. Be very aware when using cards at these sort of locations to avoid such an issue.

Storing Info

One big problem these days is that people like to store information on their computers. Passwords for different sites and login portals tend to be forgotten and need to be stashed away somewhere. People find it is easy to keep a file on their computer but that can often be hacked and then the hacker has access to all of your accounts all in one file. Try not to keep a file like this and find a more secretive way to keep this information. Maybe keep it in a notebook next to your desk or in a file. Either way, keeping it electronically on your computer or electronic device is a definite no no.

Hopefully by following these simple tips will make your chances of being hacked or identity stolen a little less. It is most important to be aware of what you are doing with all of your personal information when it comes to storing it electronically and online.

Your credit score offers a real-time snapshot of your financial life, responsibilities, and wellbeing. The inner workings of the credit score can be tough to understand, though. In the U.S., three major credit reporting bureaus compile credit data and issue reports for consumers and lending agencies. These reports compile into what you may know as the FICO credit score.

If you’re pursuing debt relief, though, you might have another question. Will debt relief affect your credit score? Is it a good thing or a bad thing, as far as your FICO score is concerned? Here’s what you need to know.

The Range of Credit Scores

At its lowest, a FICO score can sit around 300. A perfect score, on the other hand, is 850. While those are the two extremes, there are many people in the U.S. with good scores that fall right around 620. Scores higher than 750, meanwhile, are regarded as excellent. If you’re not applying for credit, you might not think much about your credit score. When you go to apply for a car loan, credit card, or mortgage, though, it becomes essential. Lenders look at these credit scores to determine your reliability as a borrower.

How Debt Relief Impacts Credit Score

If you’re grappling with excessive debt and looking for a way out, you have a few different options. Each impacts the credit score in different ways. These are as follows:

• Bankruptcy. Bankruptcy is a thorough debt relief tool, but a difficult one. Bankruptcy isn’t recommended for anyone but people in dire financial situations. If you declare bankruptcy, it will have a massive, negative impact on your credit score, which will remain for 7-10 years.
• Debt Settlement. Debt settlement is an alternative to bankruptcy. It’s also a more often-recommended approach, as it has a mild impact on credit score. Whereas bankruptcy can cause a credit score to drop by hundreds of points, debt settlement results in about half the drop. This may make it easier for you to procure a mortgage or car loan again after your debt settlement process is over. Additionally, debt settlement takes about 2-4 years to wrap up, compared to as many as ten for bankruptcy.

Protecting Your Credit Score During Debt Relief

If you’re planning on pursuing debt relief, it’s essential that you also understand its impact on your credit score. While debt relief can be an essential step to getting back on your financial feet, it’s critical to remember that your credit score will follow you long after the debt relief is over.

With that in mind, be sure to research your debt relief options before you take any action. Talking to a debt relief specialist is also a great way to ensure you’re making smart choices and protecting your financial future.