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FINANCIAL TIPS HOME
MAIN HOME |
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What You
Need To Know - 5 Types Of Identity Theft |
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Many people do not realize that there
are different types of identity theft.
There are indeed several ways in which
the identity thief can take advantage of
your personal information, while leaving
you to deal with the repercussions.
Here's what you need to know about the 5
types of identity theft.
The type of identity theft you are
probably most familiar with is Financial
Identity Theft. It is when the thief
uses your information to set up
financial accounts in your name without
your permission or knowledge. The thief
may obtain credit cards, loans,
merchandise, homes, vehicles, vacations
and more, all in your name. Financial
identity theft can definitely cost you
thousands of dollars in debt, not to
mention the painstaking process of
clearing your name and credit. |
Another type of identity theft is
Medical Identity Theft wherein the thief
uses your information to obtain health
and other medical benefits and services.
Being a victim of medical identity theft
can result to fraudulent billing and
having erroneous medical files. Your
ability to get a health and life
insurance may also be affected. Imagine
the nightmare of having an actual
medical emergency and having your
insurance company refusing to cover the
bills as records show you've already had
the procedure done or you've depleted
your insurance coverage.
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An identity thief can not only leave you
with tons of debt, but leave you with a
criminal record as well. With Criminal
Identity Theft, the thieves use your
information to obtain employment, to
commit or distance themselves from
crimes, or provide your information when
questioned by law enforcement.
Repercussions can range from undeserved
tickets to outstanding arrest warrants
and even temporary imprisonment. Victims
can also be fired from their jobs due to
an "undisclosed conviction". |
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These identity thieves are out there to
victimized innocent people particularly
seniors. They feel that seniors are easy
targets because of their financial
status and their lack of awareness of
the matter.
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Identity theft can not only be
devastating to individuals but to
businesses as well especially in cases
wherein the business' credit and the
owner's credit are one in the same. With
Commercial Identity Theft wherein
criminals get credit by charging it to
another business' name, business
operations may be severely affected due
to a loan being denied or called early
or if interest rates on key credit
accounts are increased due to a
universal default cause.
Truly, an awareness of these different
types of identity theft is helpful in
protecting ourselves from becoming a
victim of the crime. Given that identity
theft has now become more common, it's
definitely wise to know what we are up
against in order to take the appropriate
preventive measures. |
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About The Author:
Written By Bernard PragidesAuthor and internet entrepreneur Bernard
Pragides offers expert advice and tips
regarding identity theft. Learn more
about identity theft and fraud by
visiting his identity theft blog and his
website
http://www.IdentityProtek.com
for more helpful information.
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