Results of Identity Theft and Fraud

Identity theft and fraud aren't a new concern. Ever since the year 2000, these complaints have headed the list of complaints with the Federal Trade Commission.

Credit Cards - Targets of Identity Theft and Fraud

The most frequently used and easiest for identity theft and fraud is that involving credit cards. It is much more than having your own credit card stolen. Thieves can use your address, phone number, and social security number to obtain new credit card accounts without your knowledge. Although most credit card companies will not press you to pay when charges are made without your knowledge on your credit card account, it is a little more complicated when thieves use your information to open their own accounts. The identity theft and fraud can go on for a long time without your knowledge and bad reports may go on to your credit rating without your realizing that identity theft and fraud have occurred.

Thieves can even use your personal information to obtain personal loans in your name that can be difficult to deal with once you find out. Due to the ease of getting a loan when you have a good credit rating, the person who is committing identity theft and fraud in your name may obtain the loan so easily that it is difficult to prove you didn't take out the loan yourself. This can destroy your credit rating and make it impossible for you to get credit when you need it.

Identity Theft and Fraud