by KYW's Salil Gutt

A record 79 million financial records of Americans were compromised in 2007, four times that of the prior year.  There is one sure fire way to stop identity theft dead in its tracks.

Only use this approach if you are positive you do not need to apply for credit any more.

Freeze your personal credit reports. With a credit freeze, no one can apply for a mortgage, a credit card or any sort of credit with your social security number. The good news, in most states it costs nothing to freeze the report though it could cost up to $10 to thaw it out.

Here's what to do. Inform each of the three credit reporting agencies. Go online to check their respective procedures for credit freeze. It could be different. Be sure to send the materials requested by overnight mail or certified mail as the letters will contain your social security number.

This is not irreversible. You can follow a similar procedure to thaw your account. In the meantime, you can rest easier.