Identity Theft – Common Consumer Errors

Consumer Understanding of Identity Theft:
The major problem that consumers face today is a fundamental lack of understanding of what identity theft actually is. Most people think of identity theft as when someone uses your credit card without your permission. Fraudulent credit card use is certainly a multibillion dollar problem, but it’s only one small part of the identity theft threat. A comprehensive understanding of what identity theft and what it is not empowers citizens to make informed decisions about how they should protect themselves.
People who have been victimized by identity theft often have a difficult time functioning as a result of their circumstance. Some deal with minor administrative annoyances whiles others suffer financial devastation and legal nightmares.
No one is immune to identity theft:
A woman contacted me who was previously a very successful real estate agent and the president of her local real estate group. She had climbed the ranks from sales to broker/owner and oversaw dozens of employees. A former boyfriend stole her Social Security number and his new girlfriend used it to assume her identity. Over the course of five years the ex-boyfriend and his new girlfriend traveled the world on stolen credit and destroyed the real estate agent’s ability to buy and sell property. Her real estate license was suspended and her life was turned upside (continue reading...)