What Can Happen to You as a Victim of Identity Theft, Facts & Figure

Is identity theft really that serious? Thousands of people every year are victims of this terrible crime. Thieves use your personal information to commit fraud or other crimes in your name and can cause significant credit damage. Identifying information taken without your permission, such as your Social Security number (SSN), credit card number, or your drivers' license, can be used to "steal your identity."

The effects of identity theft are much greater than most people suspect. Victims can spend years trying to re-establish their credit and their good names. The cost of this process, both financially and emotionally, is often quite high. But there are options (see below).

Identity theft is a serious crime. The Federal Trade Commission reports identity theft as its number one source of complaints by consumers. The average victim pays more than $1,000 repairing the damage and loses an average of $6,767. A recent study by CBS News claims that a thief steals someone's identity "every 79 seconds."2 An estimated 750,000 people are victimized each year.

How can you tell if you are a victim of identity theft? There are some clues. First, it's important to always monitor the balances on your checking, savings, or other financial accounts. Keep an eye out for unexplained charges or withdrawals made without your permission. Carefully reading your monthly bank and credit card statements, then checking the amounts against your check register or other record-keeping method could catch a thief in the act of assuming your identity and spending your hard-earned money.

Identity thieves may change the address on one or more of your bills, so make sure you know when you usually receive specific notices. For instance, if you receive your credit card statement at the beginning of the month and it doesn't arrive in the mail, this could signal an address change by an identity thief. Another clue that comes in the mail is a credit card for which you didn't apply or a statement for a credit card that you have never used. Someone may have used your information to apply for a line of credit.

Also take note if you are getting phone calls from debt collection agencies, credit departments, or other companies regarding merchandise or services that you did not purchase. Someone may be acquiring goods and services in your name.

And finally, when applying for a line of credit, be aware of your credit standing. If you know you have a good credit rating and get turned down by a credit card company, this is a red flag that someone else may be sullying your rating. Even if you don't know your credit score, always ask why you were declined and verify the reason against your credit report.

Once your identity has been stolen and your credit has been damaged, the long process of regaining your name and good standing could cost you more than inconvenience. Victims are unable to qualify for loans, to purchase houses and cars, and to pay for higher education. They may be refused job opportunities and even be arrested for crimes committed by the identity thief.

In the meantime, the criminal with your personal information may:

? Go on a shopping spree with your credit or debit card account numbers. Thieves may also create counterfeit debit cards or checks. Merchandise can be sold and the criminals walk away with cash.

? Open credit or checking accounts in your name with your SSN and date of birth. As the bills pile up, your credit report reflects the delinquent account.

? Have your credit card statements sent to a phony address. Without the bills as a reference, it may take you a while to realize your account is being used.

? Take out loans in your name for big purchases, such as a new car.

? Set up telephone or internet service in your name.

? Avoid the responsibilities of debt or an impending eviction by filing bankruptcy using your SSN.

? Give your name to police when being arrested. If the criminal is released on bond but fails to appear for the court date, police may issue an arrest warrant for you.

? If you have credit damage, contact CM Financial Services at 714 441-0900 or visit http://www.creditdamage.com

Protecting yourself against identity theft takes a little extra time, but in comparison to the time, effort, and money it takes to reclaim your name once it has been stolen, the vigilance is well worth it.

Cathy Taylor is a marketing consultant with over 25 years experience. She specializes in internet marketing, strategy and plan development, as well as management of communications and public relations programs for small business sectors. She can be reached at Creative Communications: creative-com@cox.net or by visiting http://www.creditdamage.com or http://www.internet-marketing-small-business .com

---

Credit Repair Kit Sound To Good To Be True? It Is.

A lot of people have bad credit. It is unfortunate that good people with good intentions are sometimes lured into credit card offers with outrageous interest rates or convinced to buy a new,... Read More

Bad Debt Recovery

Bad Debt IdentificationIdentifying bad debt is not as easy as it sounds. But the earlier it is done, the better are chances of recovering it. Here are some signs of customer behavior that... Read More

Improving Your Credit Report

Even if you think you have a wonderful credit report, be wary of the error factor. Just as you receive mail with your name and address misspelled, your credit report can have errors... Read More

Defeating Credit Card Debt With Self Control

Credit card debt is a major social problem in some Western countries. To rid yourself of credit card debt, it is best to recognize the problem as both a social and individual problem.If... Read More

The Advantages of Credit Cards

There are many evils associated with credit cards, but there are benefits that are hard to ignore. One benefit is having the credit card company act in your behalf to recover funds from... Read More

Lower Your Credit Card Interest Rate Now!

With today's credit card companies, there are many opportunities to get your cards rate of 21% or more reduced. The higher the amount of interest your card charges will cost you more for... Read More

Finding and Applying for the Right Credit Card Offer Online

Anywhere you go online nowadays, you will see a multitude of ads for credit cards. Some offer low interest rate for an introductory period, or bonus frequent flyer miles while others offer real... Read More

How You Can Help Prevent Identity Theft

How can I prevent Identity theft from happening to me? Never leave your receipt or slip in the ATM or gas pump. Pay attention to your habits, lock up or organize and file... Read More

Do You Want to Get a New Credit Card at a Great Rate?

1) Do your homework. Applying for and getting approved for a credit card is nothing more than legwork. Credit card contracts can sometimes contain onerous terms that might make you sorry that you... Read More

10 Ways of Reducing the Risk of Identity Theft

1- Check your credit report regularly2- Secure personal information in your home, especially if you have roommates, employ outside help, or are having work done in your home.3- minimize the amount of information... Read More

Stop Credit Card Offers

You can stop receiving credit card offers in the mail! It's really easy to do - just phone 1-888-567-8688 and follow the prompts and provide the requested information including Social Security number, date... Read More

Collection Agency Secrets for Collecting on Bad Debt

Getting worried that one of your clients, customers or patients will never pay? Have you given up on a customer who's essentially said he won't pay? Congratulations--being stiffed by a customer or patient... Read More

Searching For A Low Interest Credit Card?

These days, people need to very carefully consider what type of credit card they will carry in their wallets. There are so many options out there, and each individual has different needs. Some... Read More

Which Business Credit Cards with Reward are the Best?

Thinking of applying for a credit card with a reward program to help you and your business? Here is a brief guide to some of the best programs on the internet.The Platinum Business... Read More

New Credit Advice: Dont Pay off Those Credit Cards!

Credit needed for real estate mortgage financing differs from credit needed for consumer loans. If you need help getting a home mortgage, these credit tips will help you.Contrary to what many credit advisors... Read More

Credit and Banking Money Saving Services

The first rule when applying for banking and credit services is to always read the fine print and to understand all of it. Read up, take it home, and analyze it, ask the... Read More

Maximizing Credit Card Rewards

In their quest to get you to sign up for their credit card, banks and financial institutions are coming up with more and higher incentives to entice you. Frequent flyer miles gave way... Read More

Low Interest Credit Cards: A Thing of the Past?

With interest rates rising, low or zero percent credit cards may soon become a thing of the past. However, the wise shopper can still secure a low rate by carefully shopping around. Here... Read More

Minimize your Risk for Identity Theft

Identity theft is the fastest growing crime in America. According to the Federal Trade Commission, the number of identity theft incidents reached 9.9 million in 2003. These crimes are estimated to have taken... Read More

Opting For A Credit Card? Check Out Certain Terms

You've just received a "pre-approved" credit card offer in your mail. Without wasting a minute you're ready to accept it, especially if it's the "before-the-offer-expires" one. Wait! Don't be in a hurry. Shop... Read More

Credit Card Balance Transfers Can Help You Stop Putting Money Down The Drain

As you probably know, interest rates are at all time low right now and if you aren't getting the best deal from your credit card company then they owe it to you to... Read More

Choosing A New Credit Card

1. Choosing A new credit cardThere are many reasons for choosing a new credit card.It may be your first card or you may wish to reduce the amount of interest you're paying each... Read More

Some Truth About Credit

Credit is currently and has been historically an integral component of our economy. Credit contribute a person's net worth, and financial power. No matter who you are or what type of business you... Read More

7 Compelling Reasons Why A Prepaid Debit Card May Be Just The Financial Tool You Need

Prepaid debit cards are great financial tools and may be just the financial tool you need. Here a seven compelling reasons why:1. A prepaid debit card helps you stay out of debt because... Read More

How Businesss Mess Up Their Credit Policies

In "Become the Squeaky Wheel" a book recently published, Michelle Dunn demonstrates the major areas a business should focus on to ensure a satisfactory customer experience.One mistake business owners make is not having... Read More

Looking for that Low interest Credit Card?

If you have been shopping around for a Low Interest Credit Card you will notice that the UK market is awash with Credit Card companies offering low rates to entice you to apply... Read More

19,178 Identity Theft Victims Per Day - Are You One Of Them?

Identity theft statistics are shocking. And we are told that it will only become worse, before it gets any better. Are you likely to be affected? According to recent studies, up to 7,000,000... Read More

What Is A Credit Report?

Even if you have heard of a credit report, you may not know exactly what it is. If so, this credit report article is for you. Learning about your credit report is important... Read More

FREE Credit Report Offer - Careful, It Might Carry Hidden Charges

FREE credit checks or free credit reports. What are they all about? Why every second company on the Net is offering you a free credit report? Are they all suddenly moved into a... Read More