Identity theft is a growing problem in this country. Just to give you a bit of perspective, let's examine some numbers. Begin by imagining the population of the state of Virginia. Add to that number the populations of North Carolina, South Carolina, and Georgia. Now add in the citizens of Florida, Alabama, and Mississippi. The entire population of these states combined is just over 45 million people. Imagine if all of these people revealed some type of personal information regarding their identity, opening the doors to potential financial ruin. Do you think this is farfetched? Not Anymore!

Through just four incidents this year, over 45 million people had their identities placed at risk by either negligence or willful misconduct. CardSystems International, Choicepoint, and two major U.S. banks are recent examples of companies that failed to protect the data of their customers. The total impact of these breaches has yet to be realized, but the ramifications of identity theft on past victims is sobering.

The economic loss brought about by 18 million cases of identity theft has been calculated to be $52.6 billion dollars. That's enough money to buy General Motors, Ford, and the following three airlines: Southwest, Northwest, and Delta. Afterwards, you would still have over $10 billion leftover to go shopping with.

Identity theft costs the average victim nearly $4,000 and, more importantly, 175 hours of personal time to straighten out their problems and their credit. This does not include any potential increases in interest rates from creditors and insurance companies, where the financial impact can be even more dramatic if problems are left undetected. The FTC states it takes an average of 12 months for most consumers to even detect that a problem exists.

How can you protect yourself and maintain your good credit? Here are some suggestions.

Conduct a Credit Check-up! Visit www.annualcreditreport.com to obtain a free credit report every 12 months. You'll want to look for any suspicious activity, addresses that don't make sense, or inquiries that were done without your knowledge. If you pull the report and would like help reviewing it, contact your personal mortgage professional for assistance with deciphering the information. Keep in mind though, the credit reports generated here will not offer you a credit score. If you're looking to obtain that as well, you will have to request it from the credit reporting companies individually, or, once again, ask your mortgage professional for assistance.

Don't Give It Up! Beware of phishing scams both over phone and by email. If someone contacts you and requests your personal information, don't give it to them. Rarely does your bank or financial institution use email to obtain information. Always verify who is requesting your information. One extra phone call could save you a lot of pain. Learn more about phishing at the FTC's website: www.ftc.gov/bcp/conline/pubs/alerts/phishingalrt.htm

Stay off the Pharm! While phishing enables thieves to pilfer information from you, pharming takes the deception to the next level. Pharming is the process of hijacking your computer and taking you to a site that looks like where you want to go, but it's not. For example, say that you type in bankofamerica.com, and you're taken to a site that looks just like it but it's not. You enter your information and not only does the site track your moves within it, but it may also direct your computer to give up other information at a later time. There are toolbars available that will display the actual site you are on in a separate location on your web browser. So instead of seeing bankofamerica.com, you might see an entirely different address. In cases like this, don't enter any information, just exit the site. One such toolbar is available from Netcraft (toolbar.netcraft.com).

You've been stuck up! If you have been victimized, take action. You'll need to contact and file a report with your local police and the Federal Trade Commission. You'll also want to contact the three credit reporting agencies, Equifax, TransUnion, and Experian to fill out a Fraud Alert. And finally, close out any account that may have been compromised using a Theft Affadavit form, which is available at www.consumer.gov/idtheft/pdf/affidavit.pdf.

For additional information regarding identity theft and how you can protect yourself, visit www.consumer.gov/idtheft.