Define Identity Theft - Don't Let It Happen To You!
Define Identity Theft -
So what is
theft is when someone steals your identity using your Social Security
Number (SSN) or other personal information. They use this
information to indirectly steal money from you, or to apply for new
your name, which you end up
having to pay. Identity theft
facts say that this is the fastest growing form of financial fraud
affecting millions of
everyday people like you and I. Basically, it involves
impersonating you, typically
by fast spending.
How is this related to
might be asking yourself: "Why define identity theft on a website
about prepaid wireless?!" Along with not having to
lock into a long
term contract, and a number of benefits of prepaid wireless (read more
prepaid plans do not require you to provide personal information.
While prepaid carriers
typically ask you for your name and address, you
necessarily have to provide your real name, and you most
never have to provide your driver's license or social security number.
The only exception tends to be
if you're trying to
setup payments using a bank account or credit/debit card on your
account; then they'll
need to valid certain personal information. But the extend of
that tends to be the last four digits of your SSN, and they're doing
that only to validate that you are who you say you are. In
other words, they're not collecting or storing it for
reporting to the
credit bureaus (which prepaid wireless carriers
The point is
that prepaid wireless
plans provide an
excellent option for people who are concerned about identity theft
It's one less account with personal information on it!
Define Identity Theft -
perpetrator will collect personal information about you; they can do it
a number of ways, including:
your SSN by calling you and pretending to be from your bank, credit
card company, or some other official sounding organization,
requesting to "verify" your information for some seemingly valid
- Rummaging through
your garbage for personal documents and statements. Believe
it or not, people actually do this!
into, or otherwise gaining access to your online accounts.
What are the impacts of
theft in America?
your driver's license, personal checks, credit cards, ATM cards (i.e.
debit cards), passport, etc.
a victim of identity theft not only hurts your reputation, but has a
long lasting impact on your credit score, which affects your ability to
get a home loan, get approved for a good rate on a car loan, apply
for credit cards, and even getting different forms of insurance.
Also, not only do you spend a lot of time resolving problems
you learn that your identity has been stolen, but there are also
out-of-pocket costs for filling claims, lawyers fees, etc.
note that a low credit score can even affect your ability to get a job,
as employers usually check your credit score as part of a background
can define identity theft in different ways. According
to a 2007 study by Identity Theft Resource Center (ITRC), identity
fraud victims spent an average of $550.39 dollars in
out-of-pocket expenses for damage done to an existing account, and an
average of $1,865.27 for new
accounts. This was an increase from the previous year.
reported that victims spent an
average of 116 hours repairing the damage done by identity theft fraud
existing accounts, and 157.87 hours for new accounts. The
here is that identity theft is a serious problem and a big pain, both
financially and in terms of personal time.
Follow the links to learn more!
Define Identity Theft