The worst thing about identity and theft is how serious an impact it can have on your life. The identity and theft scenario can truly be a life-altering nightmare. Every day, people suffer unimaginably negative consequences due to the misappropriation of their personal information. If you're not serious about protecting your identity, you're making a disastrous mistake.
The Screeching Halt
You're at the gas station. You need to fill up the tank to get back home and you're not carrying cash. You slide your handy credit card to the attendant and he slides it right back, letting you know their processor is declining the purchase. You're at the store, ready to pick up a few necessities when you get that pitying look from the cashier. "Sorry, we can't accept your card." Your checking account debit card isn't working any better. A quick call to the bank reveals that you're sitting on a negative balance. The bank may have even frozen your assets. You're broke.
Imagine your financial life coming to a screeching halt. Your liquid assets are gone. Everything else is locked down. No one wants to loan you a dime. You're completely stuck. Why? Because of the deadly combination of identity and theft. Because some low-life thief with a knack for working a flawed system has stolen and misused your identity.
Oh, and can you imagine getting pulled over for a minor traffic infraction and finding yourself in jail due to outstanding criminal warrants wrongly linked to your name and identification due to identity theft? It happens.
The Credit Crash
It's amazing how easy it can be for identity thieves to utilize your personal information to obtain credit. When they do, they tend to go on wild buying sprees, leaving you with the bills. You might be able to wiggle out of responsibility for those debts but by the time you discover them, you may find your credit numbers at rock-bottom levels--a problem that can take tremendous effort and a great deal of time to correct.
A wrecked credit score is a real problem, too. It can prevent you from obtaining necessary financing for major purchases like homes and cars. Identity and theft can also reduce or eliminate your existing available credit. Bad credit scores can force you to pay more for everything from cell phone contracts to car insurance. One identity thief can shove you directly into a deep credit hole from which it will be exceedingly difficult to escape.
The Lingering Pain
Surviving an incident of identity theft requires patience, hard work, an ability to jump through hoops and to slice through red tape, a great deal of time and the ability to work through any number of additional difficulties. With time and effort, however, you can get through the process.
Unfortunately, the negative impact of identity theft may continue to rear its head repeatedly - even years after the initial incident. You may continue to discover credit reporting errors linked to the theft. You may find yourself dealing with crazed collection agencies, threats of lawsuits, judgments quietly entered against you, warrants in faraway jurisdictions and a host of other major inconveniences. And having your identity stolen once makes it easier for it to get stolen again in the future. The pain and suffering an identity theft can spur may never really completely disappear.
When you consider just how hellish an episode of identity theft can be, the need for protection becomes obvious. An ounce of identity theft protection is worth far more than a pound of cure. Shielding yourself from identity theft may be the best investment you'll ever make.
Identity Theft Facts Identity Theft By Family And Friends Identity Theft - 5 Ways You Can Become a Victim - Identity Theft Protection and Credit Card Fraud Five Myths Concerning Identity Fraud A Review of Krolls Identity Theft Shield Program
0 comments:
Post a Comment