In 2014, the Federal Trade Commission (2015) received over 300,000 identity theft complaints-13% of the overall total complaints received in that year. Federal Trade Commission (FTC) Identity Theft page. There’s no guarantee against identity theft — unless you go peak Ron Swanson, destroy your cell, and order every iPad in existence to ERASE ALL PICTURES OF YOU! There’s a good reason for that — those bills don’t actually belong to you, but paying them could be seen as acceptance of such. And, while you might be thinking, «better to just pay the bills and put the whole thing behind me», there are other consequences associated with identity theft — like a poor credit score — that justify fixing the issue properly. So if a thief runs up a bunch of medical bills in your name, the insurer isn’t likely to pay them for you. A greater concern is that the thief’s medical records are merged with your own. So a service will keep an eye on your credit report, criminal websites or, even, medical records for signs of fraud and alert you if something suspicious occurs. The United States Postal Inspection Service specifically addresses crimes involving the fraudulent use of the U.S.
ProtectMyID is a service by Experian that offers identity theft detection, protection, and resolution. OK, this is super-important: Most identity theft insurance does not cover monetary losses incurred as a direct result of the crime. Individuals who were the victim of identity theft that occurred in Iowa or victims who resided in Iowa at the time the crime occurred may apply. The law enforcement agency will forward your application to the Crime Victim Assistance Division’s (CVAD) Identity Theft Passport Program (IDPP), along with the Law Enforcement Verification form and the agency’s incident report. A hard form of identity theft to combat because of the complexity of the crime. Click here to download a PDF Law Enforcement Verification form. Keep the telephone number of your fraud detective/investigator handy and give it to creditors and others who require verification of your case. Keep in mind, many financial institutions have zero-liability and/or fraud monitoring policies in place that minimize the odds of you losing out on your entire bank account. To keep your finances in check it is important to avoid going into to debt with credit cards.
You should always be wary of who you give your social security number, address and passwords to and check your bank accounts and credit card statements regularly. Check online for the best deal you can get. Have direct access to professionals who can help in the event of an identity theft incident. This will ensure that you are immediately aware of any suspicious activity that can have far reaching effects on your credit and financial health. The financial fraud can be damaging to your credit. You’re generally liable for $50 if you report the fraud within two days, up to $500 if you report within 60 or totally on the hook if you report beyond that (so monitor your statements). Federal law limits a credit cardholder’s liability for fraud to $50. In terms of resolution services, someone does the bulk of the legwork associated with reversing fraud (i.e. disputing errors on your credit report, reversing fraudulent credit card charges, filing a police report, etc.).
Identity theft insurance primarily covers costs associated with getting your good name. According to the National Association of Insurance Commissioners (NAIC), identity theft insurance costs between $25 and $60 per year. Identity theft can happen anytime, anywhere — and to anyone. Your Social Security number is perhaps the most important to thieves because it can be used to set up bogus accounts from which they can extract money. Social Security Identity Theft — Social Security fraud occurs when someone uses your social security number (SSN) to start a new life. If approved, applicants will receive their Identity Theft Passport with the notice along with information about the use, expiration, and replacement of the ID Theft Passport. Even if you are diligent in your efforts to prevent these types of identity theft, you may still become the victim of a crime if your information is stolen during a hack or data breach. Includes what to do right away, what to do next, specific types of identity theft, protecting your identity, and sample letters and forms. Sometimes, identity thieves give police officers the name and identifying information of another person when they’re arrested. An ID Theft Passport will not be issued for instances of mistaken identity or loss of documents containing identifying information.