Frequently Asked Questions

Identity Theft Frequently Asked Questions

Finding the knowledge to stop idenitity theft can be a confusing process and we here at Idenitythiefs.com understand that. Thats why we have created a list of frequently asked questions to assist you in your quest for answers. These questions and answers will give you more insight on the issue of ID theft and what you can do to limit your chances of becoming victimized.

• How does identity theft effect me?

The most irritating thing associated with ID theft is clearing ones own name. It takes much time to rebuild your credit score and can be hard to get loans in the future if your credit has been damaged. Much time can be lost fighting to clear the debt. On average it takes about 25 hours of paper work and phone calls to finally clear yourself of your debt. In 2006 approximately $49 billion dollars were stolen through creditors by criminals. The victims of these crimes were forced to pay about $4.5 billion of this cost, while the rest was paid by the financial departments.

• How do I know if I have been victimized?

If you believe someone may be using your idenitity immediately request a copy of your credit report and make sure there have not been any purchases or new accounts opened that you do not recognize. If there seems to be additional information that you had not requested then immediately file a 90-day fraud report. This can be done by contacting one of the three companies that issue credit reports. If you have evidence that you have become a victim file a police report where the crimes had taken place. This can be helpful, because, your 90-day fraud report can be updated to seven years if you file a police report.

• Should I cancel all my credit cards, or just the one invaded?

It is usually better to only cancel the credit card that was abused. By canceling all your credit cards it may prove difficult to obtain another one in the future. Creditors may be reluctant to give you a credit card if your debt is high, even if it wasn't your fault. Hold on to your credit cards in case you need them to build your credit up later.

• What can I do to protect myself?

Always be aware of how you handle your personal information. While in public cover pin numbers and your social security number. Always shred personal information before discarding into the trash. For additional information visit our security page.

Hopefully these questions and answers have provided additional information that will prove helpful in your fight against idenitity theft. By supplying our readers with this useful information we believe we can lessen the impact thieves are having on innocent lives. We hope the information has given you the education you need to defend yourself.