What is identity theft?Can anyone with access to your driver licence # or your social security # do it?

Question

This happened to a friend of mine and my sister too.Iwonder who has to pay for this,bank,credit card company or the victim?

Answer 1

Identity Theft is a lot of things, usually it is financial, but it can be more. Someone can get your identity to get health insurance, for criminals with chronic and expensive ailments it can devistate your trying to get medical insurance. They can take out a drivers license and ruin your driving record.

If money is taken from your bank or credit card.

If you report it within 2 days you are liable for the first $50 usually.

After 2 days but within 60 days you will be liable for atleast $500.

After 60 days it is all yours!

Banks and credit card companies were getting killed, this law passed a year or two ago.

But with identity theft it isn't a matter of if it will happen to you, it is more of a matter of when. It is the fastest growing crime in the US. A year ago I didn't know anyone who had been the victim of ID Theft, today I know 4.

I think it is important to protect yourself no matter how careful you are.

I suggest this service for protection. You get a credit report to see if it has happened.

You get credit monitoring to let you know if it happens. This way you know right away if it happens so you can minimize your loss.

But the best part is if it happens to you you are assigned a licensed investigator to handle every aspect of the Restoration!

The FTC says it can take 600 hours and thousands of dollars to correct the problems.

It is horrible to fix.

Answer 2

Yes, they steal identity with your social security number. Not everyone has a drivers liscense, but what happens most of the time is that people who commit id theft steal your SSN and apply for jobs with it, so you're stuck with the taxes, etc. They can also get ahold of your bank info, and other personal information to ruin your credit. If any event, companies should be notified right away at a sign of id theft, and they will work with you.

Answer 3

We all pay for it in increased fees. My identity was stolen when I refinanced my mortgage. I can pinpoint it because the charge accounts were opened within a week of my inquiry for a lower rate. I had no other activity on my SSN before or after that for many years. They used my number but someone else's fake name and someone else's address to receive the stolen goods. The person who stole my information was never arrested and neither were the ones involved in the other six cases I know about. Between the rampant identity thefts and the "stolen" VA numbers that appeared on the net twice now, it's difficult to understand why more is not being done to protect our information and prosecute the thieves.

Answer 4

Identity theft... when someone takes your name, social security number or other identifying information and defrauds others by pretending to be YOU. and EVERYBODY pays for it. The banks and credit card companies in lost monies, and the victim in lost credibility. An identity theft victim will have problems getting a credit card, opening new bank accounts, getting a car loan, a house loan, a loan period, because there will be huge bills in that person's name that he/she is NOT RESPONSIBLE FOR.
used to work at a credit card company....

Answer 5

To help with id theft, be very careful with your checks. First of all, don't have your driver license number or SS # printed on it. Also, just use your first two initials on it then your last name. That way if someone steals a check, they don't know your name or any other important info on you.

And get a copy of your credit report every year.

Answer 6

Since you have question about your ID visit my blog "Your Identity..." on yahoo360. It is loaded with information that might suprise you as well as some links to information that will assist you..
Good luck