Identity Theft – What Exactly Is It?

There are many different definitions for what “identity theft” actually is. Whether you look on Wikipedia or the Oxford English Dictionary, you are bound to get a different answer. However, in this particular case, the FTC gives a pretty solid idea of what identity theft is. Here we have printed some points, but definitely make the time to read about what the FTC identity theft has to say about identity theft. They have a whole set of pages available for you to read, and this only goes to show just how critical our situation is; identity theft is a huge problem, and it only continues to grow.

Identity theft is essentially when someone uses someone else’s personal information – a Social Security number, a name, credit or bank cards – without the owner’s knowledge in order to break the law and commit fraud.

- According to an estimation by the FTC, 10 million Americans fall victim to identity theft every single year.
- Utilizing your identification, criminals can get credit cards, create a new line of credit, rent an apartment, or even open a phone account.
- You may be completely unaware of this theft until after the damage has been done.
- Identity theft is a serious situation. Huge amounts of money and countless hours are spent by millions of people every year trying to reestablish their good name and good credit.
- Victims, with no fault of their own, may even lose out on education, car, or house loans as well as job opportunities.
- People have even been arrested for crimes they didn’t commit, although this is rare.

As you can see, these situations aren’t ones you would want to find yourself in. However, we don’t have to just sit around and hope that nothing happens. We have options. Services are now available that make protecting you and your family easy, and they only cost around $0.25 to $0.30 a day. These service plans give you a solid defense backed by identity insurance of one million dollars.

Trusted ID, LoudSiren, and LifeLock are examples of some of these companies. They make their specialized services available for affordable prices.

Take the time and research which of these services is best for you and your situation. We also have reviews on LifeLock, LoudSiren, and TrustedID, so become acquainted with what sorts of options you have to help you protect your identity.