Identity Theft

A situation may arrive in your life when somebody on the way may question the absurdity of your life. The only reply which is expected out of you is that you are in the process of collecting the threads of life to mark a foundation of your identity. This sounds still better. This is because there are times, when one after forming his identity, starts loosing it without even having the slightest hint that the fraud people are following him.

It is such a serious crime that your personal information becomes the very reason for stripping you off your identity. Being completely unaware, you are not alone in the queue but there are millions of others who can't go unaffected. Likewise you, they are also engaged in the process of washing up their bad credit record. In the odd turns of life, one is even arrested mistakenly for the crimes which they have not committed. I am sure a handful of people among you must be wondering what I am talking about? But feeling this is natural!!! Now you must be in seek to find, that what all sources does identity thieves have which enables them to carry their frauds successfully. Here are some:

* Under the guise of landlord, employer or someone else 0that may have a legitimate need for and a legal right to the information, the identity thieves may fraudulently obtain your credit report.

* They may practice "dumpster diving", under which they poke around your trash of businesses and gather your personal history.

* Their pockets might become heavy with your wallets and purses containing your identification and credit and bank cards.

* They steal your mail, including your bank and credit card statements, pre-approved credit offers, telephone calling cards and tax information.

* They complete a "change of address form" to divert your mail to another location.

* At work they get your personnel records.

* Your access on internet may become a cause for you, as at times you reveal your personnel information

* They find personal information in your home.

* He may choose to employ "inside sources". For example: he may pay a store employee to gather the information that appears on an application for goods, services or credit.

Now you must be thinking how they work with your stolen personal information. So have a look here. Here are certain tricks which they use to serve their purpose:

* They drain your bank account by counterfeiting checks or debit cards.

* They misuse your name for opening an account and then write bad checks in that account.

* They establish phone or wireless service in your name.

* Auto loans are then taken in your name to buy to buy cars. Pretending to be you they then inform credit card issuer to change the mailing address on your credit card account. The charges are then laid in your account. As your bills are being sent to the new address, it may take some time before you become conscious that there's a problem.

* They open a new credit card account, using your name, date of birth and social security number (SSN) .When they use the credit card and don't pay the bills, the delinquent account is reported on your credit report.

* They file for bankruptcy under your name to avoid paying debts they've incurred under your name, or to avoid eviction.

It was a period of 1990's which produce a wide range of offenders called identity thieves. Their stock in trade is your everyday transaction. Your each transaction requires you to share personal information: your name, address and phone number; or your bank and credit card account numbers, your income and your social security number. An identity thief appropriates your personal record without your knowledge to commit fraud or theft.

This condition of identity theft would swallow your precious time and may even empty your pockets one day .In the meantime, you may be refused loans for education, housing, cars, lose job opportunities, or even be arrested for crimes you haven't committed.

In this game of where everything is lost, the only "gift" which you may experience is Humiliation, Anger and frustration.

I am sure some among you who are reading this must have experienced this heinous experience-Yah!!! I am still talking about your identity being stolen. So please have a glass of water and control your hiccups. But at the same time there is only a handful of people who remains still away from engulf of this crime. Mind you, you may be the next one. So beware! In order to carve a new identity for you, what you need the foremost is the application of your brains.

It is Federal Trade Commission (FTC), working with other government agencies which will help you guard against and recover from identity theft. If someone is determined to commit crime then it becomes impossible for you to prevent identity theft from occurring. But managing your personal information wisely and cautiously would surely minimize your risk.

In addition, the FTC, in conjunction with banks, credit grantors and consumer advocates, has developed the ID Theft Affidavit to help victims of ID theft restore their good names. The ID Theft Affidavit, a form that can be used to report information to many organizations, simplifies the process of disputing charges with companies where a new account was opened in your name

SYMPTOMS OF IDENTITY THEFT

Keep a track of your financial accounts. Unexplained charges or withdrawals should be questioned. Other hints are:Failure to receive bills or other mail signaling an address being changed by the identity thief;Receiving calls from debt collectors or companies about merchandise or services you didn't buy.Denial of credit for no apparent reason; or Receiving credit cards for which you did not apply;

How can you know your identity is being stolen?

To know as an individual you have any identity or no, you must order a copy of your credit report from any of the three credit bureaus. This will help you check whether any new account have being opened in your name. On finding any inaccuracy you must crosscheck it with the other two bureaus. Of course some errors may be the result of computer, clerical or other errors and may not be a result of identity theft. If on confirming the error still exists then, this would be a clear hint that somebody is following you. So when it involves your personal information, exercise caution and prudence.