Your credit cards been stolen. At least you assume someone has it
because you apparently dropped your wallet somewhere out there today and you
now have no cash, no bank cards, no credit cards, and not even the
identification required to prove you are who you say you are. A strange world
we live in eh? You are hoping it’s not someone who’s committed identity theft
with a criminal record in the past. First remember that many people have lost
these kinds of things, and it’s possible it will be returned to you shortly.
However the better bet is to be prepared and make the necessary calls to
protect you. Also be aware of the possible consequences.
- It
is not difficult to use stolen credit cards and debit cards. How many
times does a clerk check your own ID when you use these cards yourself?
- A
professional criminal with access to your social security card or number
will be able to immediately begin assuming your identity.
- A
criminal can ruin your credit score. In this case, the least of your
concerns will be whether they bought some beer with your credit card; they
may have much bigger plans.
Make
the Necessary Calls
The first thing you need to do is call your bank, as well as your credit
card companies and ask them to temporarily freeze your accounts and to monitor
any attempted transactions. Sometimes this is done too late, but the moment you
know that your information has been stolen it is important to limit the amount
of damage that can be done, or stop it altogether. A bank or credit company
will watch to see if anyone is attempting to use your cards or information and
can report it to the proper authorities. If nothing is noticed within several
days you should begin the process of acquiring new cards. Sometimes a good
habit can be to write “Check ID” on the back of your cards if there is
potential for someone else to use them. That way a clerk may feel more inclined
to do so.
Beware
an ID Thief
However you are not out of the woods. A smart criminal may know to wait
till the alert has died down before doing anything. What the professional
really needs can be found in your wallet. A license or ID card can be forged
repeatedly, and not surprisingly these forgeries can sometimes come back to
haunt you. Identity theft with a stolen social security number should be
perhaps your greatest fear.
With this number a professional can open accounts under your name, and
even buy a home. Eventually the news will reach you that you owe lots of money
to collectors. Because you did not assume the responsibility of properly
monitoring your accounts and secure information you are on the books for this
debt and if you can’t repay it, it can ruin your credit score. The moral of
this story is to always monitor your information by checking your accounts
regularly.
If your credit card information has been stolen or you want to learn more
about credit card theft laws, visit legal-yogi.com. They also be contacted for
free consultation by calling 1-800-397-1755.
