Identityfraudresources.com

A Stolen Identity and your credit report. Any connections?

A stolen identity may be the precursor of a devastated credit rating. Your credit report means everything to you but it means nothing to an identity thief. It simply is an indicator of your net worth to them.

Some criminals, upon “acquiring” your Social Security Number, may even query the credit bureaus, trying to establish your credit worthiness. Of course, they are not interested in extending credit to you. It’s more like “How far can your credit score take me”?

On they other hand, what the credit reporting agencies say about you are quite irrelevant to another type of criminal, the type more bent on committing identity fraud with your stolen identity.

Some citizens have said openly, “Let them steal my identity, all they’ll get is my debt.” We believe, unless it is said in
jest, such a statement is quite dangerous. The feeling is, if a person really means this, then most certainly, they are NOT taking the necessary steps to protect their identity from being stolen.

An identity is much, much more useful than for just financial gain. Here are 3 instances whereby the victim’s financial standings doesn’t even matter:

• One bright, light, summer’s day, on you way home from the office, you let your guard down and allow your foot to be a little heavy on the accelerator. The State Trooper that pulls you over is quite cordial. He’s enjoying the day as well. Then he runs your driver’s license and undergoes a transformation. Out come the gun and he immediately places you under arrest. Evidently he found out that you are a wanted drug smuggler and fugitive from the law. Can you explain (satisfactorily enough) that you are not the fugitive on his computer? Will he let you go? What do you do?

• A HIV infected patient wants to receive medication but doesn’t want the world to know that he has the disease. Or want the expense of receiving the treatment. After all, he doesn’t even have a medical card! The solution? That’s right, your stolen social security number! Would this be a problem for you if your co-workers found out that your insurance card was used to acquire this type of medication?

• You are a traveling salesman, and one day while on the road, you receive a frantic call from your wife. She says that you have just received a letter in the mail from the New Jersey State Child Support Enforcement, demanding you pay outstanding back child support. Here you are, living in the Mid-West, never been to New Jersey and yet this? What do you say to your crying wife? Who should she believe? You or the State of New Jersey who has “documented” proof?

Identity Fraud comes in 4 flavors.

Contrary to popular belief, there is not just one type of identity theft. The reality is, there are many. We list here the Top FOUR Flavors. Keep in mind that Child Identity Theft and Business Identity Theft are not very far behind and gaining.

1. Credit Identity Theft
2. Medical Identity Theft
3. Social Security Number Identity Theft
4. Driver’s License Identity Theft

The normal procedure has always been to clump all four together as if they were all the same crime.

This practice is further from ideal than you might imagine. Identity Theft Scams are very efficient ways some identity thieves use a stolen identity to abuse your personal information and credit worthiness. Visit our Identity Protection article to learn more.