Beware of These Signs of Identity Theft

Identity theft is becoming a rampant problem all over the world.  In fact, the Federal Trade Commission received over 4.8 million identity theft claims in 2020 and they estimate that over 9 million people are victims of identity theft annually.

Identity theft occurs when someone gets or steals your personal information and then uses that information in any number of nefarious ways. This could include opening credit accounts in your name or using your info to claim benefits such as insurance, tax refunds, employment, or housing.   Identity theft will almost always impact your credit reports and credit scores because thieves have no intention of paying back any debts that they might accrue with your info.

So how do you know if your identity has been stolen?  Here are a few red flags:

• You receive bills for items you did not buy, accounts you don’t recognize, or medical services you did not use.
• You see charges on your credit card or bank statements that you did not make.
• You start receiving calls from debt collectors about a debt that isn’t yours.
• You see withdrawals from your bank account.
• You stop receiving bills or other mail.
• You receive notice that a tax return was filed in your name.
• You are unexpectedly denied credit.

Sometimes, combating fraud and theft is a simple as contacting your credit card company to report unauthorized transactions.  Other times, however, the problem can me much more severe and could require significant work to fix.

One of the services we provide when a client is new to our program is to go over their credit report and look at every account and negative item.  We want to immediately identify any fraudulent items and address them asap.

It should be noted that seniors are a common target for this type of theft, so make sure your aging loved ones are vigilant and well-informed.

If you are suspicious of identity theft (your own identity or that of a family member) contact us for a free consultation.  We can help determine if fraud has been committed and can also help to get it cleaned up!