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10 Ways Identity Thieves Destroy Your Reputation
Posted By Ron On June 6, 2011 @ 1:00 AM In Life 101,Personal Finance,Scams | Comments Disabled
Several years ago, my identity was stolen . It took several years to get everything straightened out but I still worry about it. When I changed banks to PerkStreet  recently, for a short period of time, I didn’t have my identity theft protection in place because I forgot to change the debit card I used to set it up. When I realized I wasn’t protected – honestly, I freaked out until I could get my ID theft protection back in place. I was bitten once and it forever changed the way I view identity theft protection.
Once someone has accessed your personal information, he or she can exploit that information in a wide variety of ways, ranging from simple fraud (intentional deception for personal gain) to criminal impersonation to illegally using benefits that are rightfully yours. Knowing how identity thieves might use your information is an important step toward defending yourself.
With even the smallest amount of information in hand, a thief can exploit your existing bank accounts, run up debt, or living the high life at your (and your credit card  company’s) expense. These fraudulent buying sprees may include expensive high-end items such as computers and other electronics, which the thief can quickly and easily re-sell for cash.
With the proper credentials or information, a thief can withdraw money from your savings, checking, or investment accounts via ATMs, checks, online payments, or an electronic transfers. This money can then be used to do everything from buy drugs to finance illegal arms shipments to make the thief’s mortgage  payment. How does THAT grab you?