Penalties for identity theft victims are haunted by bad credit reports, high costs of removals, and delayed recovery processes. The costs of credit restoration may exceed $1,500 if you may need legal consultation to file your appeal towards the credit card companies. Some of the most provocative incidents are if the credit card companies fail to remove the claims against you.
Why would it be so hard to handle this situation without paying out of your pocket for actions you did not commit? The companies are not interested in hearing your complaint about it, so you must take a chance to fight the issue with legal counsel in court. Some penalties for identity theft crimes will never touch the perpetrator, but it will affect the victim in more occasions than one.
Types of Identity Theft
Credit Card fraud occurs more than 2 million times a year through various aspects of internet purchases and through other means by identity thieves. Some will acquire your information through trash cans, observing you enter your pin number at an ATM machine, or by the use of your social security number. Identity thieves prey on unsecured information that can be reached very easily even though the penalties for identity theft will remain on you.
Other common identity theft techniques include skimming in which clerk swipe your credit card information twice and make a duplicate of your account information. They can use those duplicates to go on shopping sprees or open other accounts in your name.
It is very hard to get those types of things wiped from your credit history. Many people provide all types of documentations that show they were victims of identity theft and are still forced to undergo the penalties for identity theft. With this being shown on your credit report, it would seem as though it was you that made all the bad credit choices listed. It would make it hard to buy houses, cars, get loans or apply for credit cards.
There are times when your credit cards will go over the limit if you fail to cancel them. Hire a lawyer to help you dispute the case if the credit card report is not cleared before you experience more penalties for identity theft. Many times, this is the only way to correct this problem. Going this route can take many years, but in the end is worth the wait. By taking all the proper precautions, identity theft crimes can be lessened or totally prevented.