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ID Theft and Credit FraudIdentity theft and credit fraud can affect anyone at any time. According to The United States Secret Service, it is one of the fastest growing type of white collar crimes with one person becoming a victim every 60 seconds. How It HappensIn today's fast paced technology driven world, all of your personal information can easily be stolen. A credit card purchase at a store, a bill payment by telephone, a credit application by mail, the theft of your mail, the improper disposal of your personal information and a call on your cell phone can all lead to a possible credit nightmare. This is possible because all of these above events require you to share some of your personal information that an identity thief can easily get a hold of. Once an identity thief obtains some information, any additional information can easily be purchased from an information broker on the Internet, from a database list broker or from any other readily available source. This additional personal information can lead to a credit application in your name, loans, a new drivers license, a depleted bank account, bad credit and even possible criminal consequences, which can arise if the identity thief uses your identity to commit a crime, which you will than have to disprove. Id Theft - Credit Fraud & Law EnforcementLaw enforcement agencies may not be able to help you until an actual crime has been committed. Please note that an actual crime is categorized as the actual use of your identity and credit, not always the theft of it. Future Credit ProblemsAccording to the Federal Trade Commission, “Even where a consumer is not legally liable for the debts, the consequences to the consumer are often considerable. A consumers credit history is frequently scarred, and he or she typically must spend numerous hours sometimes over the course of months or even years contesting bills and straightening out credit reporting errors. In the interim, the consumer victim may be denied loans, mortgages, and employment... Moreover, even after the initial fraudulent bills are resolved, new fraudulent charges may continue to appear.” Protect Yourself From ID Theft & Credit FraudPlease click on the below links for information on how to protect yourself from id theft, credit fraud and what to do if you are a victim. Protect Yourself From ID Theft & Credit Fraud FTC: ID Theft Publication |
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