Identity theft is a hot topic these days. With hackers outright stealing information from retailers, banking services, and medical providers to criminals using readily available free tools to download everything thing that passes over Wi-Fi connections, ID and credit theft is on the rise. According to the IRS, 1.9 million bogus returns were filed in 2013. A report by Javelin Strategy & Research found that there were 12.6 million identity theft complaints in 2012. Insurance fraud is also on the rise.
Avoid the nightmare scenarios
Having your taxes frozen, credit and bank accounts plundered, or health insurance messed up is a rare event when you compare the number of incidents to the total number of people living in the United States. But for those who do become one of the millions to experience an unfortunate event it is no less painful and even potently life threatening. Having Identity theft protection is one way to help avoid the nightmare scenarios that can result from having your identity stolen. Please use these identity theft protection reviews to help find a service that meets your needs and budget.
A major provider of identity theft protection for both individuals and financial institutions.
ID theft – will it be simple or far-reaching?
Even before our reliance on the Internet, identity theft was a real threat. Now with digitization and far-reaching electronic highways criminals can easily hide behind a computer and scrape together people’s personal information or just outright steal it. It is clear that credit and ID theft is on the rise.
The world today is awash with sensitive personal information. It is almost inevitable that most of us will be a victim at some point to one form or another of identity theft. The crime’s impact could be as simple as having to wait for money to be refunded to your bank account and new credit cards to arrive by mail or as drastic as having your taxes frozen for months, unable to make major purchases, insurance issues, loss of income, time, and opportunity. The consequences have the potential to be far-reaching for your family, your finances and your life.
Identity theft top complaint
The Federal Trade Commission reported that identity theft tops the list of consumer complaints for the 14th consecutive year. Thirty percent of those complaints are tax or wage related with debt collection taking up another 10%. One way that people are being proactive and shielding themselves from crime is by purchasing credit monitoring or Id protection. It is the equivalent to being more aware of your “digital” surroundings. These services can automatically scan and monitor many records that would be just too time consuming for an individual. Many services will also minimize a person’s exposure by removing client’s information off of public lists and public websites. Many services have additional features designed to provide more security or even financial help as well as professional assistance should the worst happen.
A little protection goes along ways
Identity theft can potentially cost a person thousands of dollars to resolve. Money is not only lost directly through account theft, but there is also the potential for lost wages, refiling fees for loans or even the cost of a private investigator to unwind the worst fraud cases. It is true that purchasing an identity theft protection service is seen by some as an unnecessary expense, but having the peace of mind of an extra layer of protection and help should the worst happen is invaluable to the millions who currently use these types of services. When you weigh the monthly cost, a little insurance goes along way. Hopefully these theft protection reviews will help decide if a service is right for you.
Unexpected ways in which identity theft can harm you
Trigger an increase in auto insurance rates
With few exceptions all auto insurance companies use a person’s credit scores as a factor in setting rates. A victim of ID theft struggling to clean up their credit will of course have a lower score. A lower credit score can translate into insurance premium hikes of 10, 20, even 40% or more.
A common form of Identity theft is SSN-only. With more and more illegals trying to find work in the US it is not uncommon for them to use someone else’s social security number on a job application. This enables them to meet the residency requirement for employment. Illegal aliens have sometimes worked for years earning income under someone else’s SSN. One day that victim will get a surprise when the IRS tries to collect on all the unpaid taxes for the extra income.
Gain a criminal record
Ever heard of an “Identity Theft Passport”? Some states have implemented the use of these passports to help those who’ve had their identity used by a criminal while committing a crime. If a criminal gives your name or uses your faked or stolen driver’s license when they are arrested, it is possible you could later be arrested or even gain a criminal record. The problem is serious enough that some states have implemented Identity Theft Passports for victims of the crime.
According to the Government Health IT website and FBI estimates, medical fraud is costing Americans $234 billion annually. One aspect of this fraud is Medical ID theft. Med ID theft has a high street value and affects around 2 million people every year. A scary side effect of medical identity theft is the creation of false medical records by criminals. This has lead to the wrong prescriptions, delayed treatments, and sometimes even a complete misdiagnosis of an illness.
For a few dollars a month anyone can add an extra layer of digital awareness. ID theft protection, credit protection, as well as help should the worst happen is not that expensive. Please use the identity theft protection reviews on this page to find the best service for your needs.