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An estimate 9.9 million people were victims of identity theft last year. If your identity is ever stolen do you know what you are and aren’t entitled to? Do you know what to do after you find unauthorized charges on your accounts, should you pay the bills or fight? Get the facts on identity theft.
Federal law states that you are only liable for $50 of losses from banking or credit card fraud if you report it within two days to your financial institution. Many banks will even waive these types of fees if you report losses soon enough so monitor your accounts and report suspicious activity immediately. If you are denied credit or are a victim of credit fraud you are entitled to a free credit report by law so get one and look for errors.
You should never pay any bills that you did not authorize, even if it seems easier just to pay them and forget it. Paying bills charged by an identity thief means you are admitting the bill is yours. You should also never change your social security number even if it was stolen. Changing your social security number will make future creditors suspicious even if all you problems have been cleared up because your new and old numbers are attached to credit applications.
However, if your drivers license is stolen you should cancel it and get a new number after police verify that it was stolen. If because of identity theft you find yourself being harassed by collection companies, you should not give in. Send them documentation stating that charges were fraudulently made and let them you know that you will pursue legal action if necessary. Collection companies are notorious for badgering people but by showing them you are not responsible for charges and know you rights will usually make them back off until things are cleared up.
Becoming a victim of identity theft is a awful experience but knowing these facts can help make clearing your name easier. Be sure to keep records of all conversations you have regarding your identity theft and make copies of any correspondence you have with your financial institutions. Knowing what you are entitled to and what to do should identity theft occur is the best way to deal with the unfortunate circumstances.
Identity Theft | Identity Theft Facts | What To Do | Victim Of Identity Theft | Stolen Identities | Identity Protection | How To Protect Your Identity Online | Prevent Identity Theft | Keep Identity Safe | The History Of Identity Theft |
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