Quick Answer: What Are The Long Term Negative Effects Of Identity Theft?

Can identity theft ruin your life?

Damaged credit: If an identity thief steals your Social Security number (SSN), opens new accounts in your name and never pays, it could ruin your credit history.

Not only can this impact your ability to get credit, but it can also hurt your job prospects and increase your auto and homeowners insurance premiums..

Can someone steal your identity if you have bad credit?

Your Social Security number alone can be used to obtain fraudulent identity cards, bank and utility accounts and even some payday loans, whether you have bad credit or none at all. … Once a thief opens a utility or credit account in your name, there’s a good chance he won’t pay the bills.

What are three ways prevent identity theft?

Here are 13 ways to help prevent identity theft from happening to you.Freeze Your Credit. … Order Your Free Credit Reports. … Read Your Financial and Medical Statements. … Protect Your Social Security Number. … Safeguard Your Mailbox. … Go Paperless When Possible. … Properly Store or Shred Your Documents. … Protect Your Mobile Devices.More items…•

How can I protect myself from identity theft online?

How can I protect my identity online?Protect your computer and smartphone with strong, up-to-date security software. … Learn to spot spam and scams. … Use strong passwords. … Monitor your credit scores. … Review your credit score. … Freeze your credit. … Only use reputable websites when making purchases. … Stay alert.

What are some consequences of identity theft?

Here are some of the consequences for those found guilty:Fines. Fines are common for any criminal convicted of identity theft. … Restitution. The guilty party will be ordered to compensate the victim for all their financial losses. … Imprisonment. Committing identity theft can lead to significant incarceration. … Probation.

How do you survive identity theft?

If you’re a victim of identity theft, follow these steps to protect yourself.File a claim with your identity theft insurance, if applicable.Notify companies of your stolen identity.File a report with the Federal Trade Commission.Contact your local police department.Place a fraud alert on your credit reports.More items…•

How can I find out if someone is using my identity?

at 1-877-IDTHEFT (1-877-438-4338) or go to: www.identitytheft.gov/ To order a copy of your Social Security Administration earnings and benefits statement, or to check whether someone has used your Social Security number to get a job or to avoid paying taxes, visit www.socialsecurity.gov/statement/.

Are identity thieves ever caught?

Identity thieves almost never get caught In a study done in 2006, “only 1 in 700 identity theft suspects were arrested by federal authorities (0.14%).” Just to provide some perspective and comparison, 44.3% of violent crime suspects were arrested as well as 15.8% of alternative property crimes.

What is the difference between phishing and identity theft?

Tricking consumers into disclosing their personal and financial data, such as secret access data or credit card or bank account numbers, is identity theft. Such schemes perpetrated through the Internet are called “phishing” for information. … Identity theft schemes take numerous forms.

What happens when someone steals your identity?

Identity (ID) theft happens when someone steals your personal information to commit fraud. The identity thief may use your information to apply for credit, file taxes, or get medical services. These acts can damage your credit status, and cost you time and money to restore your good name.

What is the first thing you should do if your identity is stolen?

What To Do Right AwayStep 1: Call the companies where you know fraud occurred. Call the fraud department. … Step 2: Place a fraud alert and get your credit reports. Place a free, one-year fraud alert by contacting one of the three credit bureaus. … Step 3: Report identity theft to the FTC.

Can employers steal your identity?

Common Types of Identity Theft A fraudulent company can easily search through these resumes and collect any personal information listed, including your name, address, phone number, email, and (if you list it) Social Security number and driver’s license number.

How do you prove identity theft?

Complete IRS Form 14039, Identity Theft Affidavit. Mail or fax the form according to the instructions. Include proof of your identity, like a copy of your Social Security card, driver’s license, or passport.

Who does identity theft affect the most?

Three main age groups stand out among victims of identity theft: the elderly, college students and children. The Bureau of Justice reports the number of elderly victims grew by 25 percent between 2012 and 2014. In children, identity theft victims as young as 5 months old have been reported.

What are some negative consequences of identity theft experience?

In its 2016 ITRC survey, 23 percent of ID theft victims surveyed feared for their physical safety, 39 percent experienced an inability to focus, 29 percent reported new physical illnesses such as body pain, sweating, and heart and stomach issues, 41 percent had sleep issues, and 10 percent couldn’t go to work due to …

How long does it take to recover from identity theft?

6 monthsIdentity Theft Recovery Times The timeframe for getting back on track depends on several factors, including: Your willingness to put in the time: According to SANS Institute, identity theft recovery takes an average of 6 months and 100 to 200 hours-worth of work.

How do you recover from stolen identity?

Here are 10 steps to take if you feel that you may have been a victim of identity fraud.Notify affected creditors or banks. … Put a fraud alert on your credit report. … Check your credit reports. … Freeze your credit. … Report the identity theft to the FTC. … Go to the police. … Remove fraudulent info from your credit report.More items…•