Identity Theft and Treatment of Applications

We've all had to fill out an application at some time or another. In fact, with applications required for loans, leases, college, and many jobs, many have probably lost track of how many applications they have completed. Do you know how the company taking your application stores it until it is reviewed? What do they do with them after they review them? How do they store or dispose of them? Think about the information most applications require: full name, Social Security number, date of birth, possibly employment or educational history. If this document falls into the wrong hands, you have provided someone with more than enough information to commit identity theft.

Since identity theft is a growing problem, many applicants are more hesitant to disclose sensitive information. And who can blame them? This New York Times article discusses a few Manhattan firms' handling of the customer applications for the purchase of condos. These companies goes to great lengths to keep the applicants' sensitive information out of the wrong hands and require secure storage before the applications are reviewed and careful destruction of the documents afterward. Are the companies you do business with handling your information in a secure manner? If not, they are making you an easy target for identity theft.

Next time you complete an application, find out before hand what they will do with the information and what will be done with the document afterward. If you have concerns about identity theft, do not hesitate to express them, and don't be afraid to ask questions. It's better to take your business elsewhere if you have doubts than to pay the price as an identity theft victim later.