Watch out, Your Identification is under Threat

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.

SocialSecurity Identity Theft

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.