Gregory D. Evans | Ex-Hacker | TV Personality | Author

Identity Theft Can Cause The Next Financial Collapse, Are You Contributing to This?

Free Online Articles Directory

Why Submit Articles?
Top Authors
Top Articles
FAQ
ABAnswers

Publish Article

0 && $.browser.msie ) {
var ie_version = parseInt($.browser.version);
if(ie_version Login

Email

Password

Remember me?
Lost Password?

Home Page > News and Society > Identity Theft Can Cause The Next Financial Collapse, Are You Contributing to This?

Identity Theft Can Cause The Next Financial Collapse, Are You Contributing to This?

Posted: Oct 22, 2010 |Comments: 0
|

]]>

What do you value the most? Is it your money? Your Credit? What would happen if you woke up one morning and your money and credit was gone, stolen from you by an identity theft thief while you slept comfortably?

How would you feel if your child decided to buy their first car or apply for credit and your child is told that they have been denied due to bad past credit issues? You know your child has never applied for anything in their entire life. Scary thought right?

You have medical insurance to protect you if and when you get sick; you have car insurance to help you if that day comes around where you may be involved in an accident.

Why don’t you have identity theft protection for you and your family?

The majority of us go through our day without giving identity theft a single thought not even realizing that identity theft is the largest epidemic in our country today, but until you become a victim you wonder through your day believing that it could not happen to you and you don’t give a second thought that it might happen to one or all of your family members.

Wake up FOLKS! Identity Theft is real and here are the identity theft facts; there are hundreds of on-line businesses running up billions of dollars in fraudulent debts that will never be paid off. Authorities say the scheme could pose a new threat to the nation’s credit system. If people are committing enough credit fraud we will be facing another financial collapse.

With the tough economy that exists today people losing homes and jobs daily, many Americans have seen their credit scores plummet to new lows, according to the Sun Sentinel, In April 2010 figures show that 25.5 percent of consumers, nearly 43.4 million people now have a credit score of 599 or below (a bad risk for lenders) it will be difficult for them to get credit cards, auto loans and mortgages especially due to the new lending guidelines.

You’re probably thinking what does this have to do with identity theft? Well this creates 43.4 million potential people that identity theft fraudsters can target to sell your stolen identity information.

Computer savvy thieves and On-line companies are targeting our children’s school, Doctor office data bases and publicly available information to find random Social Security numbers the numbers are then ran through a public database to see if anyone is using them to obtain credit, if not the social security numbers are sold for hundreds or thousands of dollars . The majority of the numbers usually belong to young children that have no money or credit of their own, because children have no spending history this gives identity theft thieves the chance to open new lines of credit and these new lines of credit can go undetected for years. People that buy the numbers start to quickly build their credit rating in a process called “piggybacking” which involves linking to someone else’s credit file. Businesses that sell the numbers promise to raise customer’s credit scores to 700 or 800 within six months.

Identity theft statistics to be aware of

11.1 Million adults are victims of identity theft in 2009
Average victim spent 21 hours and $373 out of pocket expense for resolving crime
4.8% of the population was a victim of identity theft fraud in 2009
13% of identity fraud crimes were committed by someone the victim knew
Total Fraud amount $54 Billion

The synopsis to help avoid, prevent and not add to this epidemic is to get adequate identity theft protection for you and your family. Identity theft protection that will provide you with continuous credit monitoring to safeguard your personal information.

If you become a victim of identity theft, identity theft protection will save you time and a lot of money. If and when your identity is stolen do you know where to start? Of course not! Do you know how much time and money it will take to restore your credit? I am sure most of us don’t! That’s why the key is to get you, your spouse and all the children protected against identity theft. You need an identity theft company that will provide you with a qualified investigator that will do all the negotiations with the lenders and creditors; this includes working with Social Security Administration, the U.S Postal Service and law enforcement personnel. You would also want to have identity theft protection that will proactively search applicable local and national databases to look for information that you may not be aware of. You must also have identity theft prevention that will correct all damages caused by theft and restore your credit. For more information visit: Visit PerpetrateNoMore

Retrieved from “http://www.articlesbase.com/news-and-society-articles/identity-theft-can-cause-the-next-financial-collapse-are-you-contributing-to-this-3526330.html”

(ArticlesBase SC #3526330)

Watch your traffic increase just by submitting articles with us, click here to get started.
Liked this article? Click here to publish it on your website or blog, it’s free and easy!

Clyde Whyte –
About the Author:

My focus in writing these articles is to inform individuals and families of the growing epidemic in identity theft in the world today. I ask that you be vigilant and take all the steps to protect the future of you and your loved ones.

]]>
Questions and Answers

Ask our experts your News and Society related questions here…

Ask

200 Characters left

How many years for identity theft?
How many people are affected by identity theft a year?
How is identity theft accomplished?

Rate this Article

1
2
3
4
5

vote(s)
0 vote(s)

Feedback

Re-Publish

0) {
ch_selected = Math.floor(Math.random()*ch_queries.length);
if(ch_selected == ch_queries.length) ch_selected–;
ch_query = ch_queries[ch_selected];
}
}catch(e){
ch_query = document.title;
}
]]>

Source: http://www.articlesbase.com/news-and-society-articles/identity-theft-can-cause-the-next-financial-collapse-are-you-contributing-to-this-3526330.html

Article Tags:
identity theft, identity theft facts, identity theft protection, medical insurance, economy, credit fraud, credit score, child protection, restore your credit

Identity Theft Can Cause The Next Financial Collapse, Are You Contributing to This?

Related

Gregory Evans

Menu

Quick Links

Contact Info