What Is ID Theft Doing To Reputations and Credit Scores?

Identity theft in the most basic of terms, is any crime where some or all of your identity or personal information is stolen. It is a crime that can make identity thieves rich and destroy the credit scores of good people like you.

So, what is ID theft already doing to your good name and credit history? It is usually wreaking havoc on both without you evening knowing about it.

Unfortunately, one of the most insidious parts of identity theft is that it often occurs without the victim even knowing about it until the damage has already been done. Thieves empty bank accounts or run up fraudulent credit card bills or commit crimes, and the victim is left to suffer the consequences.

It is not until a policeman shows up on your doorstep or you receive your bank or credit card statements that you realize that something has gone horribly wrong.

This is why many consumers are asking a lot of important questions, and turning to identity theft protection services to help ease the worry of becoming a victim.

It is prudent to keep some important questions in mind as you learn more about identity theft and how to manage it if it happens to you:

What is ID theft and what causes it?

This is a hard question to answer because the reality is often not what you may think. Thieves don’t really have to be invasive or crafty in order to steal your identity these days.

Too many of us willingly throw personal papers in the trash, list personal information on websites or blogs, and even talk about our personal information openly over cellphones and in public places.

However, when any unauthorized person uses your data for personal gain, you have become the latest victim of an ID related crime.

What is ID theft going to do to your reputation?

The truth is, identity thieves can use your name as an alias when they commit crimes, sign up for utilities in your name, or even apply for jobs where the potential employer is made to think that the thief is you.

People who have their identities stolen can lose all their money, have their excellent credit destroyed and in extreme cases even lose their homes or their jobs. Sometimes, a victim may even be arrested for serious crimes committed by identity thieves. As you can see, your credit and reputation can be severely damaged quickly, and it may take some time to regain it.

What is ID theft reporting like?

Another thing that you may be wondering about is what the procedure is like in terms of who you should report the crime to. In other words, what agencies or organizations need to get involved?

You should start by contacting the local police, but don’t stop there. Follow up by contacting the FTC, credit reporting bureaus, your bank and any affected credit card companies. You may also need to contact any businesses and creditors that were impacted by the identity thief’s antics, too.

The bottom line is: do not make it easy to become the next ID theft statistic. Make a pact with yourself to be careful with all of your personal information, no matter what the situation is.

What is ID theft going to do to your reputation?

If your priority becomes guarding your personal data as much as possible, or if you move quickly to report the crime if it happens to you, then possibly not much that you cannot repair.

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