According to a new survey by Sallie Mae, for the majority of customers, paper-shredding is the method of choice for guarding against identity theft. The new report surveys Sallie Mae customers who have entered repayment, as part of a corporate effort to educate customers on fiscal responsibility and sound debt management. Of the more than 2,000 respondents, nearly half (47 percent) said shredding personal bills and documents containing private information in order to protect themselves against identity theft.
Martha Holler, spokeswoman, Sallie Mae, stated: "Consumers generally make an effort to protect their personal property- such as wallets, cars and valuables-against theft. It is critically important that consumers guard against identity theft in the same way and make wise choices to protect their personal information and finances."
One-fourth of respondents said they refrained from giving out their social security number in order to guard personal data. Twenty-three percent said they check their credit report frequently for unauthorized activity, and 2 percent said they avoid making credit card purchases online. Only 4 percent of respondents said they do not take any special precautions to prevent identity theft.
The survey, conducted online at http://www.SallieMae.com during February 2007, is part of a monthly survey series on a variety of debt management-related topics.
There are a few ways consumers can protect themselves, Holler added: "When someone steals your identity, your finances and your credit score are at risk. Taking steps to avoid identity theft is much easier than repairing damage to your identity and finances. Be sure to guard your social security number, pick your online passwords carefully, pay attention to your mail and be cautious about what type of information you put in the trash. It is also important to review your credit reports at least once a year for unauthorized activity." Holler advises consumers to use common sense and take immediate action if they suspect identity theft.
The corporation, commonly known as Sallie Mae, is one of the leading provider of saving- and paying-for-college programs. The company manages $150 billion in education loans and serves nearly 10 million student and parent clients. Sallie Mae and its subsidiaries offer debt management services as well as business and technical solutions to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at http://www.salliemae.com. Through its Upromise affiliates, the company also manages $17 billion in 529 college-savings plans, and over 7.5 million members have joined Upromise to help save for college with rewards on purchases at nearly 70,000 places. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
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