Identity theft – Time is mainly what you lose
Cleaning Up After the Crime
Once someone has found that they are a victim of identity theft, they may try to begin the long process of paper work and phone calls that is necessary to clear their good name. When they begin, hope is still present as they assume that everything will be cleared and automated. It will only take a few short days or weeks for the victim to learn that the burden of proof is on them.
When they contact a government agency to report the crime or to get help, they will be referred to another agency. While they are speaking with an agent, they will be transferred to another number and while there they will be told that they have to call someone else because this specific agency does not handle identity theft. A victim will be sent through a series of transfers, phone number and agents and in the end they may end up at the beginning again with the phone number of the first agency that was contacted.
Creditors like to be paid and they will send written letters and leave messages as they call the house of a victim repeatedly. In the middle of explaining that they have been the victim of identity theft, the voice on the agent will be asking how they plan to pay off the debts. Will they use their checking accounts or a credit card? It soon becomes apparent that the creditors could not care less about the victim’s problem. The debt is in their names and that is all that matters.
Years down the line, as they attempt to get a loan for a house or business, the bank will deny them on grounds that they have bad credit. The victim will be frustrated and confused because their credit should have been fixed a long time ago. The truth is, it can take a long time before the credit reporting agencies will attempt to clear your credit of the fraudulent charges and even then, it will be a back and forth two-step as you resend information that you have sent them on numerous occasions.
What Does A Victim Lose?
Victims of identity theft will spend an average of 600 hours trying to clean up their lives. By law, victims are not responsible for more than $50, either in fraudulent bills or stolen bank account funds. Time is what most will lose. Time wasted arguing with creditors. Time lost as they sit in a jail cell because they have been arrested for the crimes caused by the real criminal. Time spent sweating over documents and looking over their shoulder wondering what will happen next.
Even after a victim has turned in paper work, court documents and evidence that they were not the ones who committed the crime, theft or fraud, they will still find themselves explaining the situation years later. It can take multiple communications before one company finally clears up any discrepancies, but sometimes human error or strange policies will have the victims name being added to a black list anyway.
Time can also be spent looking for a new residence or job because many victims have been fired due to a sudden criminal history that has their name attached to it. Even with the evidence, many are fired because it is less of a hassle for the employer, or they simply do not believe the victim. Many laws have been created but it is still difficult for a victim of identity theft to get back their good name, credit and lost time.
How to Get Your Life Back?
The Privacy Rights Clearinghouse has great reference material on what to do after a theft. You can view this information here.
Though identity theft is finally in the public eye, many companies and even government laws still have to play catch-up to the realities. There are also those who could claim identity theft but actually have loans to pay. Victims of identity theft are likely to be stuck again, as their public information is likely being shared with other thieves. An identity theft protection service will definitely help, as victims can easily flag or freeze their credit at will.
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