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What is identity theft?
Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft.
The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn’t make—or until you’re contacted by a debt collector. Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.
ion Report
Some of the things that you will need to do if it does happen to you.
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Call your bank and/or credit card company
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Contact the three major credit repositories
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Go through the helpful but expensive steps recommended by the Federal Trade Commission in its 30-page consumer support publication
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Fill out and submit the affidavit form supplied by the FTC to dispute new, unauthorized accounts
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Spend on average $1,200 in out-of-pocket expenses and an average of 175 hours in your efforts to resolve the many problems caused by identity thieves
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What Is Identity Theft?
