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Credit Education > Identity Theft > The right response to thievery

The right response to thievery

By Janet Lacey
Published: Thursday, December 10th, 2009

Victims of identity theft are burdened not only because of the monetary compensations they have to pay to repair the crime’s damages, but also because of the burden to prove that they truly are the victims. It is inevitable that identity thieves being good at what they do find ways of claiming the identities they stole. They do this to make it appear as if the victim is actually the imposter. This have been done by many identity thieves and resulted to more monetary losses for the victims and even a pending court case.

The hardest part of being a victim is to prove that he or she is really a victim. For example, a businessman claims that he was a victim of identity thievery and fraud to avoid bankruptcy. The case was first taken as a common case of thievery but then it was found out that the business man was also the imposter in his story. There are those who have really suffered from identity theft, establishing that they are not like the businessman in the story proves to be a hard task. There are even times that the victims unknowingly project themselves as the imposters.

After being a victim of this crime it is inevitable to act out of paranoia. The victims being paranoid because of the monetary losses that they already have to bear, plus the hassles of rebuilding their reputation can make them do things and decision that they will soon regret. Closing down all of their existing financial accounts and changing social security number are some of these bad decisions. After the crime, most financial ratings of the victims become shaky. These include credit reports and FICO score.

The instability of the credit worthiness rating of the victim is the result of the many financial setbacks that have been caused by the thief such as bad debts and unpaid bills. If the victim would choose to close all of his or her existing financial accounts like credit card accounts and bank accounts, he or she will appear more suspicious to the eyes of the authorities. The federal government can even interpret such actions as the getaway plan of the victim turned imposter. Changing social security numbers implies the same things. It is unadvisable for the victims of identity theft to change their existing and established social and financial accounts, doing so will make things a whole lot messier and even harder to repair. 

Reporting the crime to the authorities should be the primal instinct of an identity theft victim. It is better for the victim to report the crime earlier because victims are only liable to pay $50 of the total losses if the crime is reported at most two days after the crime has been committed. Reporting it early will not just free the victim from the financial compensations that has to be paid to the other involved parties, it will also make the establishment of victimhood much easier. The crime of identity theft can only be countered with immediate response both in prevention and after the crime.

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