Introduction

Identity theft happens whenever someone uses your personal identification to commit fraud or other types of crimes. They may use your name, credit card number, or your Social Security number (or other identifying information).

The effects of identity theft are very real. Your credit may be destroyed, you may have more debt than you should, You may even be denied school loans or other types of loans due to poor credit or overuse of credit. You may even lose out on job opportunities if the case becomes severe enough. These crimes are punishable, unfortunately, the road to getting your credit repaired and getting your debts worked out is rarely as easy to accomplish.

If you feel that any of these situations may have happened to you or you want to be sure that they have not, there are several things you should do: Get a copy of your credit report and verify that your information is accurate. If you private information have been violated, contact the police. Fill out a police report right away so that investigative teams can begin the search for the person.

Notify your creditors, let them know what is happening so they can freeze the accounts or otherwise stop the problem. Most companies have specific plans in place and procedures to follow in order to stop the criminals from stealing from you, though your creditors will want to verify any information that you provide. Dispute any charges that you may have. 

Protecting your identity is crucial. It is important to monitor your credit report and financial records closely to ensure that all details have been found and that you are no longer being victimized.

Review your credit report regularly and correct any problems with your records. If you encounter any issues, contact your lenders or financial institutions immediately. Handle disputed charges or problems through phone calls and follow up in writing to ensure proper resolution.

2. How do they use Stolen Information

Now that they have your name, Social Security number, your credit card numbers, your address or other information, they can use it in various ways to steal from you.

Credit Card Fraud

One of the most common methods of using stolen information is credit card fraud. Here, the thief may simply use your own information, such as the credit card itself, to make purchases. He/She may also use the information he/she has obtained to open new credit card accounts in your name.

He/She does not pay the bills, which causes these accounts to become delinquent (in your name). They end up on your credit report as well.
Another form of credit card fraud occurs when the identity thieves steal your information, change the address on your credit card statements, and then use the information to run up the bills on already-existing credit cards. You no longer get the bill, but you likely do not realize it for some time.

Phone Fraud

Phone or utility fraud is yet another common problem associated with identity theft. Here, they may obtain a new mobile phone or even other utilities in your name. They use those accounts, never paying the bills on them, and run up the charges. Sometimes, they may be able to access your current information so that they can use that to their own advantage. They can use your name (and address) alone to set up new accounts for electricity, gas bills, cable television, magazine services, water bills, and so on.

Many of these companies will take months to alert anyone of late bills, and yet, during that time, the identity thieves have racked up thousands of dollars of debt in your name.

GOVERNMENT DOCUMENTATION FRAUD

Some of the most serious forms of identity theft involve government documents. For example, some thieves are able to get an actual driver’s license using your personal identification information, but with their picture on it. As a result, they can use this to obtain any number of loans in your name.
They may use your information to file a fraudulent tax return that uses their information instead of your own. They may use your name and Social Security number to apply for and get government benefits from numerous agencies.

4. PROTECTING YOUR IDENTITY

Identity theft can last years,or It can be a one-time occurrence.
There are many factors that play into this, including whether the thief was the only person to use your information or if they passed it on to other thieves.

It is critical that you do everything in your power to prevent these problems from happening to you in the first place. If you have been the victim of identity theft, you will need to:

 Monitor your credit report and your financial records closely for at least the next year to ensure that all details have been found and that you are no longer being victimised.

 Review your credit report every three months during the first year, at least, to ensure that any problems are identified quickly and are handled as soon as there is a problem.

 After the first year, check your credit report at least one time per year, but preferably, more often.

 Correct any problems with your records with the lenders or companies. It is critical that you handle any type of fraudulent transaction or account as quickly as is possible to do so.

 Call your lenders or financial institutions over the phone to dispute charges or to handle problems. You should also follow up in writing to ensure that claims you make are handled properly.