Identity theft is a crime which takes place when loans are acquired, sales are done and even crimes are committed under another person’s name. The criminals use the other people’s stolen personal information and maliciously use them for all sorts of personal gains.
Here are just some facts on Identity theft:
For its offenders, this crime is a very high-rewarding act which has a relatively low risk. There of course is nothing surprising to that but this one will in a way make you feel a little bad- credit card companies or issuers more often than not don’t prosecute identity thieves who had been apprehended? For what reason? It is because the company does not find it cost efficient.
Identity theft considered the fastest-growing crime right now and that anyone could be hit by it. The Privacy Rights Clearinghouse’s telephone hotline receives a great bulk of complaints regarding identities getting lost. A stunning 25% could of credit card fraud cases each year are due to this. What could even be scarier is that it takes time before the victim finds out and realizes that their names are being used for some transactions unknown to them. This could lead to unpaid accumulated debts and even criminal records.
If you’re one who feels for Identity theft victims, it will again surprise you to know that in most states, this crime is not something considered against the law. Instead of the perpetrator proving his innocence, it is the victim doing it. Victims expect to be helped by the credit issuers, agencies and the police but receive no cooperation from them.
Some people wonder whether they still need to report Identity theft cases to the police. The answer is yes for you are entitled to certain legal rights when the report is provided by the three major credit report agencies- Equifax, TransUnion and Experian. Reports from these three major companies could be used to block any fraudulent information permanently that thieves have stolen from a person like account numbers and addresses.
When you had been a victim of identity thieves, fail not to report it because it could be an assurance that debts incurred by your perpetrators would not appear on your credit reports and discontinue debt collection from a credit company.
For you to have your full entitlement of all your legal rights, you should present specific details of the case. First, file a complaint with the FTC and bring a printed report before you head your way for a police report.
It is important that you get file a police report so they could have a passes to check on all the thief’s applications and transactions from different companies. To complete the step, a written request should be submitted with the police report.
It is better to deal with the case with the right authority and proper steps. Once you discovered you had been victimized, waste not anytime and act on it before it gets too late and the damages get irreparable.
