Credit Repair Utah

Identity theft is on the rise.

Identity theft is the use of your personal information, such as your name, Social Security Number, credit card number or other unique identifiers to commit fraud or other crimes. The Federal Trade Commission estimates that as many as 10 million Americans will have their identity stolen this year. Identity theft is on the rise, and sadly too many hard-working individuals like yourself will become statistics. Victims of identity theft can spend thousands of dollars and hundreds of hours unraveling the financial woes resulting from a stolen identity and to repair their good name and credit rating. Many potential employers run credit checks, and it is not unusual for victims of this crime to miss out on job opportunities. Victims also may be denied consumer loans as a result of the negative information that may appear on their credit report following identity theft. Some have even been arrested for crimes they didn't commit but which were committed by someone using their stolen identity on an arrest record.

It takes a thief and opportunity

The individual who steals someone's identity is not necessarily the one who uses it directly to commit a crime of fraud; the thief may sell it to another with criminal intent. There is, in fact, a fairly brisk black market in stolen identities. Keeping in mind that the identity thief may be someone you know, it is best to remain alert to the many possibilities. Identity thieves are opportunistic, and they use a variety of means to steal a person's identity. These include Dumpster diving and checking trash for bills and other papers containing financial details; "skimming" vital credit card information while processing a credit card transaction; phishing via the Internet, using spam and other means aimed at getting you to reveal your personal information; diverting account statements to another address; and stealing—your wallet, your mail, your credit card, your driver's license, your passport, preapproved credit offers, new checks ordered from your financial institution or elsewhere—anything that will help the thief assume your identity. Additionally, pretexting or using false pretence, with the imposter often posing as someone taking a survey or rightfully needing your personal information, is another popular technique among identity thieves.

A stolen identity is useful to a thief in many, many ways

Once an identity thief is in possession of the details of your identity, he can either sell it on the black market or use it in a number of ways himself. Favorites among identity thieve include credit card fraud; phone and utilities fraud; housing fraud; banking, finance and loan fraud; and government documents fraud, which is often used to collect government benefits, including Social Security payments. Such instances of fraud can have serious consequences, not only under the law, but also on your credit report and perhaps even your own eligibility for government benefits.