Identity Theft - Prepaid Legal, Legal Advice for Identity Theft Victims.

Identity Theft - Prepaid Legal, Legal Advice for Identity Theft Victims.

October 15, 2004 -- Identity theft is affecting the lives of millions of people in the United States. Losses in the billions, entire lives destroyed -- the comedy of the Citibank ads belies the seriousness of this problem. Some estimate that, within the next 10 years, there is a 1 in 5 chance that every American will be touched in some way by an identity theft event.

What is identity theft? Identity theft also known as identity fraud is a crime where someone wrongly gets and uses another individuals personal data, usually for financial gain. Your name, social security number (SSAN), credit card information, checking and banking data, employment records, credit reports, telephone calling card or phone number -- these are the most common types of information that are compromised in an identity theft incident.     Once the thief gets this type of information, he can use it to buy, charge, and otherwise steal things pretending to be another person.

How common is identity theft? The FTC commissioned a study in 2003 and found that almost 13% of the people surveyed had been touched in some way by identity theft. The most common identity theft victims had new accounts fraudulently opened in their names, misuse of their existing credit cards or credit card numbers, or misuse of other types of accounts (e. g., bank accounts). The costs of identity theft in the US measured both in terms of false charges and in terms of the time and money spent to correct credit card fraud through credit repair, and other legal fees was over $52 Billion and over 297 million hours spend resolving problems in 2003 alone.

What can you do to prevent identity theft? There is help in many places, including excellent free identity theft resources online and through the FTC, as well as low cost services to get your credit damage corrected. Online access to credit repair companies like Care One Credit can get you on the road to recovery in minutes. Should you need more help, Legal Services like LegalMatch provide affordable options for representation in your area and nationwide if needed.

Don't let yourself be a victim of this new age, insidious crime. The identity theft resources above are but a few available to fight back.

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