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Identity Theft

Steps to Recover a Stolen Identity

Steps to Recover a Stolen Identity

A stolen identity can be devastating to a victim’s credit and future. In the event that an individual’s identity is stolen, there are a few steps that he/she can take to help control the damage. First, it is imperative that he/she immediately contact his/her bank and credit card companies. He/she must alert his/her bank of the situation so that the bank can change his/her account number and provide him/her with a new ATM card. In addition, he/she must close all of his/her credit card accounts so that the offender can no longer utilize his/her credit cards.
In addition, a victim should alert his/her credit reporting agency, so that they will closely monitor his/her account and flag any suspicious activity. An individual should also contact the Federal Trade Commission, as this Government Agency is currently collecting information that will help it to prevent and combat identity theft in the future. In some instances, an individual may be able to obtain a new social security number, though this is rare.

Identity Theft Defined

Identity Theft Defined

Identity theft is the situation that arises when an individual will assume another person’s identity for the purpose of committing a crime. Typically speaking, victims of identity theft will usually be unaware that such a situation is occurring until after the criminal commits the crime.
Identity theft is most commonly associated with fraudulent activities, such as credit card fraud. Identity theft occurs when a criminal uses a person’s personal and private information, such as driver’s license or Social Security Number. With personal information such as this, a criminal can then apply to have new credit cards opened, obtain loans, and even apply for a mortgage. 
In the meantime, all such charges and costs are being included in the victim’s account, making him/her financial responsible for all the purchases. In many cases, identity theft can lead to the wrongful arrest of the victim due to the fact that all transactions are being done under his/her name.