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

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Google News Updated : Sat, 30 Aug 2008 12:25:52 GMT US Oil, Gas Producers, Pipelines Brace for Gustav (Update1) - Bloomberg ABC News US Oil, Gas Producers, Pipelines Brace for Gustav (Update1) Bloomberg - 1 hour ago By Margot Habiby Aug. 30 (Bloomberg) -- Royal Dutch Shell Plc and BP Plc plan to finish shutting oil and gas production platforms in the Gulf of Mexico and Enbridge Energy Partners LP will close pipelines as Hurricane Gustav gains strength and moves ... More volatility seen with hurricane, payrolls Reuters Airlines bounce as oil gives up early gains MarketWatch Forbes - DesMoinesRegister.com - CNNMoney.com - guardian.co.uk all 3,463 news articles Publ.Date : Sat, 30 Aug 2008 11:21:02 GMT Comcast to Place a Cap on Internet Downloads - New York Times ABC News Comcast to Place a Cap on Internet Downloads New York Times - 3 hours ago By BRIAN STELTER Comcast, one of the country’s largest Internet providers, said this week that it would place limits on customers’ broadband usage. Comcast's Answer to ... InternetNews.com Critics Question Comcast Broadband Caps PC World CNET News - Wall Street Journal - ZDNet - InformationWeek all 386 news articles Publ.Date : Sat, 30 Aug 2008 09:08:14 GMT Hurricane Gustav Strengthens, Accelerates, Heads for Cuba, Gulf - Bloomberg BBC News Hurricane Gustav Strengthens, Accelerates, Heads for Cuba, Gulf Bloomberg - 1 hour ago By Patrick Donahue and Robin Stringer Aug. 30 (Bloomberg) -- Hurricane Gustav strengthened and picked up speed as it headed toward western Cuba and the US Gulf Coast cities ravaged by Katrina and Rita in 2005, after lashing the Cayman Islands with ... Video: Gustav Follows Katrina's Path CBS Some leave Gulf Coast ahead of likely evacuations The Associated Press Reuters - Minneapolis Star Tribune - New York Times - Northeast Mississippi Daily Journal all 6,069 news articles Publ.Date : Sat, 30 Aug 2008 10:40:06 GMT Sign of the times - BBC News San Diego Union Tribune Sign of the times BBC News - 1 hour ago As Russia and the West warn of a new Cold War after the Georgian conflict, the BBC's Humphrey Hawksley in Moscow tries to imagine what it would look like. European Union to Hold Urgent Meeting on Russia Voice of America last straw" for Russia Reuters New York Times - Financial Times - Wall Street Journal - Jerusalem Post all 333 news articles Publ.Date : Sat, 30 Aug 2008 11:10:28 GMT S. Ossetia to be absorbed into Russia - United Press International BBC News S. Ossetia to be absorbed into Russia United Press International - 1 hour ago TSKHINVALI, Georgia, Aug. 30 (UPI) -- South Ossetia says it will become part of Russia and host Russian military bases under a new agreement. Video: UN does have double standards RussiaToday Kremlin announces that South Ossetia will Times Online The Associated Press - AFP - Civil Georgia - New York Times all 6,104 news articles Publ.Date : Sat, 30 Aug 2008 11:01:52 GMT Experts: Silver lining for ‘viable’ Mitt Romney - Boston Herald Experts: Silver lining for ‘viable’ Mitt Romney Boston Herald - 8 hours ago By Edward Mason Mitt Romney - once a top contender to be John McCain’s running mate - may have suffered a bruised ego when he was passed over for the little known Gov. It's not Pawlenty, it's Palin Worthington Daily Globe Pawlenty, after the pick, another day at fair Minneapolis Star Tribune Post-Bulletin - Washington Post - Grand Forks Herald - CNN all 2,700 news articles Publ.Date : Sat, 30 Aug 2008 04:13:29 GMT Obama campaign buoyed by convention - Los Angeles Times ABC News Obama campaign buoyed by convention Los Angeles Times - 5 hours ago He sees an unusually strong jump in support after the carefully choreographed event in Denver. By Peter Nicholas, Los Angeles Times Staff Writer DENVER -- Amy Pearl is the sort of Democrat who made the Barack Obama campaign nervous. Look out, Palin The Hillary factor . . . Chicago Sun-Times Hillary supporters aren't bitter; they're concerned Chicago Tribune The Associated Press - CNN - Philadelphia Inquirer - New York Daily News all 8,528 news articles Publ.Date : Sat, 30 Aug 2008 07:00:48 GMT RSS Feed Reader Increased Web Site Traffic

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