Identity Theft Defense Header: The Dangers of Identity Theft and How To Protect yourself            Id Theft Defense header continued: The Dangers of Id Theft and How To Protect yourself

The realization that identity theft was a real problem was brought to my attention when the son of a close friend went to purchase a car. When he applied for the car loan he was told that he had a credit problem and his loan request was denied. This was a complete surprise to him. As far as he knew his credit record was outstanding. He discovered he was a victim of identity theft!

How Identity Theft Occurs

Skilled identity thieves use a variety of ways to gain access to your personal information. For example, they may get information from businesses or other institutions by stealing it while they’re on the job; bribing an employee who has access to these records; hacking these records; and conning information out of employees. Or:

  • they may steal your wallet or purse.
  • they may steal your personal information through email or the phone by saying they’re from a legitimate company and claiming that you have a problem with your account. This practice is known as “phishing” online, or “pretexting” by phone.
  • they may steal your credit or debit card numbers by capturing the information in a data storage device in a practice known as “skimming.” They may swipe your card for an actual purchase, or attach a device to an ATM machine where they may enter or swipe your card.
  • they may get your credit reports by abusing the authorized access that was granted to their employer, or by posing as a landlord, employer, or someone else who may have a legal right to your report.
  • they may rummage through your trash, the trash of businesses, or public trash dumps in a practice known as “dumpster diving.”
  • they may steal personal information they find in your home.
  • they may steal your mail, including bank and credit card statements, credit card offers, new checks, and tax information.
  • they may complete a “change of address form” to divert your mail to another location.

Once identity thieves have your personal information, they may use it to commit fraud or theft. For example:

  • they may call your credit card issuer to change the billing address on your account. The imposter then runs up charges on your account. Because the bills are being sent to a different address, it may be some time before you realize there’s a problem.
  • they may open new credit card accounts in your name. When they use the credit cards and don’t pay the bills, the delinquent accounts are reported on your credit report.
  • they may establish phone or wireless service in your name.
  • they may open a bank account in your name and write bad checks on the account.
  • they may counterfeit checks or credit or debit cards, or authorize electronic transfers in your name, and drain your bank account.
  • they may file for bankruptcy under your name to avoid paying debts they’ve incurred under your name, or to avoid eviction.
  • they may buy a car by taking out an auto loan in your name.
  • they may get identification such as a driver’s license issued with their picture, in your name.
  • they may get a job or file fraudulent tax returns in your name.
  • they may give your name to the police during an arrest. If they don’t show up for the court date, a warrant for arrest is issued in your name.

 

Prevent identity theft from ruining your credit rating and even potentially landing you in jail! Correcting the record can be a major hassle and your reputation can suffer while you work to straighten it out. Once accused of fraud, some people will never believe that you didn't get off on a technicality, assuming that "where there is smoke there is fire." Learn how to prevent your identity from being stolen before it it too late and you are an identity theft victim.

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My friend, who unfortunately discovered that he was a victim of identity theft, soon found that correcting the record was a major hassle. The lesson he learned was that it is better to prevent identity theft then to try and correct the record later. So with that mind, I present this information to you so that hopefully you will not become another identity theft victim.

We often take our liberties for granted. What you know life to be can suddenly change if you've been a victim of identity theft.

While you've been busy with your day-to-day life someone could have stolen your personal information and racked up debts or committed fraud - all with your name on it. What happens then can be anything from being denied employment, credit or even being arrested for a crime you didn't commit.

Identity theft is that serious.

Victims of identity theft can spend years paying back debts or fighting to restore their credit as well as their reputation. Finding out you are a victim of identity theft can be frightening and a source of anxiety even after you've resolved the issue.

Don't be complacent, learn about identity theft and what you can do to lessen your changes of becoming another identity theft victim.

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