You may have heard of a crime called identity theft, but you might not be sure exactly what it is, or how you can protect yourself against it. While identity theft occurs mostly on paper — someone uses your personal information to obtain credit in your name, mislead police, commit tax fraud, etc. — the impact it has on your financial life is very real.

There are a number of things you can do to protect yourself against identity theft. Understanding the value of your personal information, including your Social Security number and credit account information, is the first step in protecting yourself. And if, in spite of your best efforts, you have a problem with identity theft, there are steps you can take to repair the damage.