How can one protect their credit and avoid future negative impacts, such as fraud, identity theft, or excessive debt?

Here are some steps you can take to protect your credit and avoid negative impacts:

Monitor your credit reports: Regularly check your credit reports from each of the three credit bureaus to ensure that all information is accurate and uptodate. You are entitled to one free credit report from each bureau every year.

Sign up for credit monitoring: Consider enrolling in a credit monitoring service that can alert you to any changes in your credit report, such as new accounts or inquiries. Some credit monitoring services also offer identity theft protection.

Protect your personal information: Be cautious about giving out your personal information, especially online or over the phone. Avoid using public WiFi networks when accessing sensitive information.

Use credit responsibly: Make sure to pay your bills on time and keep your credit utilization low. Avoid taking on too much debt or opening too many new accounts at once.

Set up fraud alerts and freezes: You can place fraud alerts or freezes on your credit reports to help prevent unauthorized access to your credit information.

Be vigilant about identity theft: Watch out for signs of identity theft, such as unexpected bills or credit accounts, and take immediate action if you suspect fraud.

By taking these steps, you can help protect your credit and avoid negative impacts that could harm your financial wellbeing.