Some Impacts of Identity Theft

Being a victim of identity theft can have a huge impact on your personal life. Most victims of identity thieves find the experience both frightening and frustrating. No matter how the theft occurred, online or in the real world, it is not something that people can just deal with and move on. Identity theft sometimes affects its victims for years after the crime has been committed.

Having to deal with the after effect of identity loss, years after their identity was stolen, adds to the anger and frustration that such victims feel. Victims of identity theft were first violated when their identities were stolen, but they may feel continually violated as they try to get on with their life.

One thing that victims of identity theft agree on is that getting your life back in order, after having your identity stolen, is not easy to do. Once you find your identity has been stolen, you may need to cancel all of your credit cards, change passwords to any of your accounts, place fraud alerts with the credit reporting agencies, and file a complaint with the police department, or even the FBI. Having to take care of all of this is stressful for most people. To make matters worse, when you place a fraud alert with the credit bureaus, your ability to even use your credit becomes much more difficult. In just trying to open up a new line of credit, you can encounter many obstacles.

Recovery from identity theft can be mentally exhausting and may affect your life because of how much energy the process consumes. People who have been victims have spent hours trying to put things right. Some banks and retailers may be more cooperative with identity theft victims and correct account records without much questioning, but that is not always the case. When banks and retailers are not cooperative and considerate, the victims of identity fraud may have to spend hours, days, and possibly weeks proving who they are and that they were not responsible for what happened.

Having your identity stolen also affects the way that you view things. People who have become a victim of identity thieves often find it hard to trust other people again, because they are afraid that they might be victimized once again. For example, someone who has had their identity stolen might find it hard to use a credit card again and will only pay with cash. The lack of trust changes who you are as a person, and is one of the impacts of stolen identity that people seldom think about.

Some Long Lasting Effects of Identity Theft

Identity theft can have some long lasting effects. Even twenty years down the road, you may still be having problems if you were a victim of identity theft. Perhaps the worst part is there seems to be no satisfaction because the identity thief is never caught, and you feel justice has not been served. Without justice, you will always feel like a victim. Any instance of having to prove your identity twenty years later makes it feel like everything happened yesterday.

If you are a victim of identity theft, one of the most significant things that you may have to deal with is placing a fraud alert with the credit bureaus. The fraud alert is placed on your credit report, so that lenders do not extend credit to anyone trying to get credit in your name, even if that person is you. The problem with the fraud alert is that it will only work if the lender contacts the credit reporting agencies to find out your credit score. If the credit lender does not check with the credit bureaus, the lender may issue credit without ever being aware that they are being duped.

Once you become a victim of identity theft, life is a bit different. The biggest difference that you may notice is that people are treating you differently, because they think of you as being under suspicion, even though you have done nothing wrong. Credit card companies are going to be cautious about allowing you to use your credit. They may also be suspicious if you call or contact them to change or verify something. It can be a lengthy process to prove who you are. Banks also may not be eager to lend you money, even after you have proven that you were the victim. There seems to be a stigma attached to anyone who has been the victim of identity theft.

The worst thing about being an identity theft victim can be the damage done to your credit before you are even made aware of it. Identity thieves may have all the information they need, including family history and other identifying characteristics and may continue trying to impersonate you. All of your available lines of credit may be suspended before you are aware of what is going on. Obviously you will not be able to use them either. No matter what you do, the credit bureaus, banks, and other lending institutions will not reinstate your lines of credit, or create any new lines of credit, until everything has been worked out to their satisfaction. The process of reestablishing credit may take weeks or even months.

Ten Reasons to Worry About Identity Theft

Ever since I became fully aware of the tremendous scope and scale of the identity theft issue, it has become an obsession. I want everyone to pitch in and help eliminate this crime. The best way to do that is to protect yourself so that you can alert law enforcement as early as possible when your personal information is compromised. If we all did that, we would wipe this thing right out. You can lead a horse to water…

Anyway, here are ten reasons to worry about identity theft:

1. Ten million new victims a year — is that clear? I did not make that number up. I got it from the FTC.
2. If your child’s identity is compromised — a growing trend since most people don’t monitor their children’s identity information and it is proliferated every time time they get a toothache or enroll in school — it can cause serious problems that you will not find out about until years later.
3. Felons use stolen identities to get jobs… and guns.
4. Pedophiles use stolen identities to blend right in.
5. Illegal immigrants use stolen identities to get work — and it looks awfully funny on your tax return if somebody has been earning under your SSN but you’re not claiming the income.
6. The Department of Homeland Security believes that terrorists steal identitites and operate under them to stay under the radar.
7. Identity theft is incredibly easy to commit. Anyone with access to your information can steal your identity, from the guy going through your trash at 1:00 a.m. to the receptionist in your doctor’s office, to a rogue employee at the DMV.
8. If your identity is stolen, you probably won’t find out about it until months or years later unless you are using a tool to actively monitor your identity. Again, I’m not making this up. It comes straight from the FTC’s latest report on the subject.
9. You are guilty until proven innocent if your identity is stolen. Sure, lenders are ultimately responsible for financial losses, but you still might have an uphill battle proving that it wasn’t you who bought that $3,000 Gucci handbag in Aruba.
10. Do you really want to go through the rest of your life paranoid and distrustful? That is exactly what happens to a lot of identity theft victims. How would you like it if you gained a reputation as a pedophile, even temporarily? It’s quite a sense of violation, let me tell you.

No, I am not pulling punches, and neither will identity thieves when they decide to ruin your life. If you are smart, and I think you are if you have read this far, you will take every measure you can to ensure your family’s security.

Identity Theft Protection Companies

It is a scary thought, but identity theft has reached an all time high. Many people have become the victims of this crime and it can be devastating. Identity theft protection companies offer many benefits and are a great defense against this crime.

These companies monitor the use of your personal information very closely and keep their eyes open for any type of change. This includes new loan or credit applications and they also watch the activity that is involved in your existing accounts. This is a helpful tool and it offers a layer of security.

One of the most invaluable benefits of identity theft programs is the insurance policy that you are offered. You are often covered for up to one million dollars in damages. They also implement a full recovery program. This is definitely a great benefit and should put your mind at ease. Check with each company to see what restrictions they place on this policy.

Some companies will offer a lost wage benefit and this can be helpful if you are a victim of identity theft. I also like the lost wallet coverage. You are covered in the event that you lose your wallet or if it is stolen.

These programs offer many benefits are quite affordable. For around ten dollars a month, you can enjoy all of these benefits and many more. It is a good idea to protect yourself in case something like this were to happen to you. I would rather be safe than sorry.

There are several great companies out there and you can find a wealth of information about them on the internet. It is a good idea to compare policies and benefits. The costs and benefits do vary. With a little research, I am confident that you will find a policy that is a good fit for you. In this day and age, you can never be too careful.

Identity Theft Protection Services

It is important to understand that most everyone is at risk for identity theft. There are a number of organizations providing ID theft protection services. These organizations provide you protection and warnings to prevent people from stealing your identity and using it maliciously.

When you are thinking about identity theft protection services, you should know what is important to your identity and ways that you can assist the organization in protecting you. You should evaluate all the information about ways to protect yourself.

ID theft occurs when a person or group of people take your information and use it to benefit themselves. These people are not concerned for your needs; they prefer to use your information to get free things for themselves illegally.

Organizations offering you identity theft protection require that you assist in some of the important aspects of preventing someone from stealing your information. You should not provide anyone with your personal information unless you are sure who they are and what they will use your information to do.

You should also know that there are some dangers, such as clicking on sites you do not know and opening unknown emails. There are some additional things you can do to protect yourself, such as shredding mail and using online bill pay.

Additionally, passwords should be combinations of words and numbers and should not be the same as personal information such as birthdays and addresses. You may even wish to have different passwords based on your need specific needs – easy passwords for things that are not very important but used often, and difficult passwords for places that have your information and are important.

Finally, you should evaluate your options for ID theft protection services as these services will assist you in monitoring your information and provide special conditions to new accounts being able to open in your name. When your information is important, you should keep it protected so that it will not be stolen.

Identity Theft Protection â What You Should Know

According to the FBI identity, theft is continuously increasing. It is important to be aware of the dangers in this crime because it can hurt your credit and cost you a lot of money. It is important to be aware that you can get identity theft protection.

Anyone can be a victim of identity theft and there are a number of things you can be aware of to protect yourself. Some things you should know include how thieves get your information, how they use it, and what warning signs should be noticed.

Your trash, mail, emails, and even your accounts are at risk of identity theft. Organizations that you deal with have information that can put you at risk and will need to be protected. These businesses include your cell phone company, gas, and electric companies. However, other organizations may need to protect your information as well.

Thieves will use your information to get credit cards and run up bills that will appear to be yours. These bills can cost you hundreds of dollars and cause your credit score to drop. You will need to understand that there are many things a thief can do with your information that can hurt you.

Some of the things that can be warning signs include if you find that you are not getting your mail. Particularly if you are not getting your bills, as these are the best things a thief can use to steal your information. Remember that suspicious emails should not be read and that you should watch for other information that should not be shared.

There are protections, rules, and regulations that are designed to protect you from identity theft. These are regulations the FTC has developed that all organizations must follow. There are even fines that organizations can receive if they do not follow these rules and regulations.

Warning signs and protection methods are the best ways to prevent identity theft. It is also important to find identity theft protection that will assist you in protecting your important information, including your name and your identity.

Get the Basics About Identity Theft

Here are some useful tips to avoid identity theft and keep track of your credit.

* Firstly, how to avoid being an identity theft victim
* Secondly, checking the frequency of credit history audit

The first problem needs attention so look for a way out for it. It is scary to lose your credit cards or any identity document. This is something, which could happen to anyone. The thief requires a little time to just mess with your credit records and make it very difficult for getting credit.

If you had an identity theft then credit bureaus should be informed and a note should be included in your credit report. The lenders will know your situation and you might find it difficult to get credit.

Now you should look for false or deceptive information in your report and try to clear it up with individual creditors. This process can take years and you feel frustrated.

Avoiding the situation where you lose your identity is the main thing. Keep the following in mind -

1. A social security number should not be disclosed

2. If you get a call and they demand information like the social security number or your mother’s maiden name or your date of birth then do not give it out. On the other hand, ask for a number for calling and sharing the information.

Check before you make a call. If they confirm themselves as calling from your bank then cross check with local branch office, whether they require such information or not.

3. Destroy credit notices that you get in the mail. Simple dumping them is not the way out. Now comes the second point, which is how often the credit history is checked. Identity theft is possible always so be aware of your credit record.

Many finance professionals suggest review of credit history every month. This is not required unless you feel that some information is missing. Another decent option is to check every 6 months. This lets you keep the fraud information at bay and at the same time correct the wrong information provided by creditors.

A yearly review of credit report is expected. You definitely do not want to land in a messy situation when you want a good credit for yourself.

How Identity Theft is Accomplished

If you have never been a victim of identity theft, you are probably unaware of, or are misinformed about, how identity theft is accomplished. People who have never been victims of identity theft often think that identity theft is accomplished by strangers stealing their personal information, so that they can steal their identity.

While identity theft is sometimes accomplished by strangers, it is more often committed by people who are close to you. All it takes for your identity to be stolen is a little bit of personal information, such as an old bank statement and an old utility bill. Identity thieves can even use information that is printed on junk mail to help steal your identity.

In today’s society, not everybody knows their neighbor; people can live next door to each other for months and never even learn their neighbor’s first name. This does not mean that your neighbors are identity thieves; however, you don’t know what someone is capable of, until something bad happens. Even old grandmotherly women have been identity thieves; no matter how nice and sweet they appeared to be. How is identity theft accomplished in this case? People you might least suspect know when you are not at home. They go through your mailbox or even your garbage can looking for anything that contains personal and financial information that they can use.

When you rent a place to live, you are required to give a great deal of your personal information so that the manager can run a credit check on you. Nobody ever really stops to think about giving up that information, willingly, because it is something that has to be done. Your information could easily be stolen from the application that you have submitted, but property managers also have a key to the home you rent. Legally, they cannot enter your home without giving you advanced notice, but all it would take for them to gain access to your personal and financial information is for them to come in and take it while you are not at home.

Having roommates is another thing to think about when considering how identity theft is accomplished. When you share a house with other people, you may or may not know them as well as you think you do. When you share your house with others, they also can gain access to all of your personal and financial information. Knowing your habits, makes it easier for them to steal your identity without getting caught. All they have to do is walk into your room and find what they need.

Identity Theft Protection â Insurance For Your Identity, Part Two

Identity Theft is a relatively new phenomenon. Unfortunately, this new phenomenon is also highly misunderstood by the general public. In Part One of our series on Identity Theft Protection, you learned some high level facts about Identity Theft and some various precautions you can take to guard your Identity. While Part One gives some practical tips to reduce your exposure, you must first gain a better understanding of what Identity Theft actually entails.

Identity Theft – It’s Not Just Financial

Unfortunately, most people believe ID Theft is just about “Financial” Fraud. The fact is, “Financial Fraud” accounts for approximately 30% – 40%. While this form of ID Theft is the most obvious, it is also the easiest to discover and recover from. Most financial institutions (Banks & Credit Card Providers) have systems in place to detect fraudulent activity on a person’s account. These same institutions typically have “reimbursement” plans in place to return any funds taken from or charged against their customers’ accounts. There are limitations and time constraints placed on these “reimbursements”, so it is imperative you read your financial institution’s policies as they relate to fraudulent activity.

While you know about Identity Theft with regard to Financial Fraud, you must also understand that the majority of Thefts involve theft for something other than Financial Fraud. Let’s look at a break down of the Non-Financial Forms of ID Theft:

• Driver’s License



• Employment



• Government



• Medical (fastest growing segment)



Of course, you could potentially break down ID Theft into many more segments and categories, for our purposes we will focus on these major categories.

Who Are The Victims?

According to a recent study, there were approximately 10 million victims of Identity Theft in 2008. As should be expected, households with higher incomes were twice as likely to be victims of ID Theft as low income households. What may be unexpected is that those households considered to be “higher income” had household incomes of $70,000 or higher (that is only a man and wife making $35K each).

Discovery & Recovery

One of the disturbing facts about ID Theft is that 38-48% of people discover the theft within three months and that approximately 18% of victims do not discover the theft until 4 or more YEARS have passed. While identity thieves have access to advanced technology and systems to steal our identities, there are similar technologies and systems in place for the public to discover these thefts. The problem is, the general public has been slow to adopt these strategies (the it won’t happen to me syndrome).

As disturbing as the previous statistics are, the most important statistics deal with the Recovery of one’s identity. The average victim of Identity Theft (according to a 2004 study) spends 330 hours repairing the damage caused by a theft. The vast majority of victims spend between 3 months to 1 year. As we all know, time is precious. The fact is the actual monetary loss resulting from an Identity Theft is only about $1,200. The real cost of an Identity Theft is in the time spent recovering from a theft. The math is simple, take your hourly wage rate and multiply by the time spent recovering your ID (example a person that make $30K per year earns approx $14.42 per hour / multiplied by 330 hours (average) equals $4,758).

Hopefully this article has given you an understanding about the types of Identity Theft as well as the cost(s) associated with a theft. Combined with the knowledge gained in Part One of this series, you should now be prepared to determine if you need to look for “Insurance” and what “Insurance Plan” is best.

posted in Identity Theft

Identity Theft Alert

The risk of identity (ID) theft has been with us for a long time. With our high-tech toys like computers, smart phones and bank machines, keeping your private, sensitive information, well, private, has become more complicated. In this article, we are going to review some dos and do nots, in the form of a handy checklist. Why not print out a few copies, and distribute them to your friends and family.

It is important that you make a bit of an effort to protect your data. Why? Because recovering from ID theft can be costly, time-consuming and frustrating. For example, there have been cases of ID theft which led to the home of the victim being sold right out from under him, without his knowledge or permission of course.

Read the following checklist carefully, but do not be discouraged or overwhelmed. All you need to do is be alert and vigilant, and you will be fine. OK, here we go:

1. Never give out any personal information unless you really have to. Some large stores ask for your phone number or zip code at the cash, for marketing purposes. Identity theft alert! Just say no.

2. There are three critical pieces of your information which you should never give to anyone except your bank, employer or government agency, and then only if you must. These are your date of birth, maiden name of your mother and your Social Security Number. Once a crook has this information, it is much easier to dig up almost anything about you.

3. Be careful in your choice of passwords online. Do not use your date of birth or Social Security Number (do not laugh; it has happened). Do not use the name of your child or pet, local landmark or college, favorite restaurant, any word in the dictionary, or anything related to you. Crooks use this info to break into your email and online bank accounts. This in fact happened to Sarah Palin.

4. Check your bank and credit card statements upon arrival. Report any discrepancies at once.

5. Check your credit report a couple of times a year, especially before making a large purchase such as a car or house.

6. Make sure all security programs on your computer are up to date, including Windows. You do have anti-virus, anti-spyware and firewall programs, right? If not, get them, pronto!

7. Avoid public computers and public wi-fi hot spots. Or at least do not visit sensitive sites such as your banking and shopping web sites from these places. Use strong encryption. Currently, that means WPA2.

8. Always practice safe surfing, and train your kids to do the same. Educate yourself about spam, phishing attacks, email attachments, etc. Do not copy and paste login information and passwords. The contents of your Clipboard can easily be seen.

9. Shred or burn any documents bearing your name, address, etc. before discarding them.

10. If you travel across international borders with a laptop or even a smart phone, be prepared to have the devices searched and all your files examined. You may have to reveal the decryption key to any encrypted documents. Make sure you have a current backup at the office.

11. Before logging into that bank machine or hotel computer, glance around to ensure no one is snooping on you.

12. There are many resources online to fight identity theft, and to help you recover from an attack. Check them out. Look especially for government sites, that is, web sites ending in .gov.

By now you can guess that it is much easier to protect your credit rating and reputation, than to spend months or even years repairing them after they have been hijacked. So print this list and paste it up on the wall beside your computer, where the whole family can see it. Reread it from time to time, to refresh your memory.

posted in Identity Theft