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What is Identity Theft & What are the Potential Consequences?
We live in a highly digitalized world, and most of the time that’s a great thing. Thanks to technology, we enjoy many conveniences today that weren’t available just a few years ago. Unfortunately, advanced technology comes with some downsides, one of them being that it has become much easier to become a victim to identity theft.
What Is Identity Theft?
Identity theft and identity fraud are two terms used to describe crimes in which someone has wrongfully obtained and used another person’s personal information in a way that involves deceptive actions or fraud. In most cases, identity theft occurs with the goal of financial gain.
Identity theft generally falls into one of three categories.
- Unauthorized use, or attempted use, of an
already existing account
- Unauthorized use, or attempted use, of the
personal information of another person to open a new account
- Misuse of any personal information with a fraudulent intent
While identity theft and fraud can be difficult to prove, the Federal Trade Commission estimates that as many as 9 million Americans have their identity stolen or compromised each year.
Identity Theft Can Turn Your Life Upside Down
Identity theft can infiltrate every aspect of your life, from your ability to secure a car loan to being able to obtain health coverage. Many people tend to think about identity theft in terms of someone getting a credit card in their name, but in fact, it goes much deeper.
Identity theft can impact your career. More employers are checking credit histories before making a hiring decision. If an identity thief has left a black mark on your record, it could interfere with landing a great job.
Your insurance rates will rise. From automobile, to home and health coverage, your credit score will impact the rate you’ll pay. Low credit scores because of identity theft will bump up your monthly premiums.
Identity theft can affect your retirement. If an identity thief has somehow managed to alter or affect your record of lifetime earnings, it can impact the amount of social security you receive upon retirement.
You can get arrested. Yes, a victim can get arrested from identity theft. If the person who stole your identity used it to commit unlawful acts or gave your name and personal information at the time of arrest and then failed to follow up on court appointments, you could potentially be arrested for crimes you didn’t commit. The burden of proof would then fall on you.
Do You Need a Lawyer if You’re a Victim of Identity Theft?
There isn’t an easy answer to this question. As a victim of identity theft, you don’t need an attorney, but having one by your side can make the process of regaining your identity much easier.
For example, a lawyer can easily get businesses to release records that are pertinent to your case, plus an attorney doesn’t need to take the customer service route to resolving complaints. They can bypass the customer service call center and head straight to the legal department where they’ll get results.
If you’re the victim of identity theft, we’re here to answer your questions. Contact the Fitch & Stahle Law Office today and let’s take the first step to getting your life back on track.
