Identity theft is a growing problem for consumers and creditors alike.
What is identity theft? Simply
stated, when a person or entity uses the personal credit information of another
to gain credit and to make purchases or run-up debt against the other person's
credit. The occurrences of this
form of theft and fraud are growing and the injured party is made aware of
the theft long after the damage has occurred.
Additionally, the victim of the crime is left with damaged credit and
often creditor collection issues and lawsuits.
Clearing up the damage, more commonly known as “identity theft recovery”
is a long and often intense process.
The recovery process can take anywhere from a few
months to a number of years to resolve and will leave its mark on the victim’s
financial records for some time. It
is important to note that the more quickly one acts, once they have been made
aware of the crime, the easier it will be to resolve.
The national credit agencies must be notified as well as the individual
creditors for each credit card, the police, and the victim’s bank.
These notifications can be by telephone but should be followed-up in
writing to protect the victim from future legal actions.
These steps will take time and effort and the process will be a strain
on the person and the family unit. No matter the pain, this must be
done.
Identity
theft is not to be taken lightly and must be handled in a proficient and expeditious
manner. The more time the criminal
is allowed to exercise credit, the more damage will be done and the more recovery
will be necessary. The
process is often too intense and complicated for an individual and when that
is the case, the victim should consider an attorney.
The attorney does the letter writing and notification for the victim
and takes that burden away. Additionally,
the attorney has the expertise to navigate around creditor imposed hurdles.
Should you be in this situation and have questions or need assistance
please give our firm a call. Additionally, Leisure
Learning Unlimited offers a class on this topic and is taught by an attorney
from our firm, Mr. Donald L. Rumer. For more information or to sign-up
for this class please go to the webpage www.llu.com.
