by Sean Bell

 

In the time it takes for you to hit the purchase button in your favorite website shop, a thief could steal your identity. That means months of frustration, hours on the phone talking to creditors and lawyers, and hundreds — if not thousands — of dollars to restore your good name. Learn just how common identity theft is and how much it can cost.

Identity theft is on the rise, in 2008 the cases of identity theft increased by 22%. Victims will spend anywhere from 3 to 6,000 hours trying to get their identity repaired. There are many forms of Identity Theft. Credit Card Fraud is using someone using your credit card to make purchases. Utility Fraud is starting a utility under someone else’s name, even their own child’s name. Bank Fraud includes stolen checks, changing amount on checks and ATM Passcode theft. Employment Fraud happens when someone uses your social security number when filling out paperwork for an employer.