Is it possible to know if your identity has been stolen before drastic damage has occurred? Here are some hints for stopping identity theft:

One of the most common way criminals use another person's identity is to apply for new credit cards or loans under a false name. If you receive letters or phone calls from creditors stating that you have been approved or denied a credit card or loan you never applied for, you should contact the creditor right away and get to the bottom of the situation.

This is one of the first signs that something is wrong and can save you a lot of problems down the road if you investigate soon enough.

Another indicator that you may be a victim of identity theft is if you stop receiving bills or credit card statements. Criminals who use a false identity will chance the address on monthly bills so the victim is unaware that their credit cards are being used by someone else.

Know when your monthly bills are supposed to arrive, and if they are late, call your credit card company. Be vigilant about your bills and thwart identity theft before too much damage is done.

If you see charges on your credit card statements that are not from purchases you've made, you need to contact your credit card company immediately and report these unauthorized charges.

If you do not play close attention to your credit card bill, this indicator of identity theft can go unnoticed. By closely handling your finances and watching your accounts you can stop identity theft before it gets out of hand.