RSSIdentity thieves - Forgotten victims of the financial crisis
The wrong social security number can cost an identity thief thousands in past due car payments.
As recently as 2006, identity theft was still considered one of the most lucrative fields of non-violent crime for computer literate Americans to get into. But with so many Americans losing their homes and drowning in debt, stealing the right identity has become much trickier. A single social security number was once guaranteed to clear an I-thief tens of thousands in fraudulent credit. But today I-thieves find themselves spending most of their time trying to pay down their victims' foundering mortgages or meet the huge monthly minimum payments on their victims' 30% APR credit cards.
Where do they turn for a bailout?
It might seem like these criminals don't deserve any help, after all the trouble their industry has caused people over the years. But the impact is not isolated to the identity theft industry. Identity thieves who were previously self-employed and making a good yearly income feeding on the credit of others are now forced to find legitimate work just to pay off some guy's Discover card bill that they fished out of a dumpster. There are simply not enough jobs to accommodate these criminals' return to the workforce.
So how can you help? Here are a few ways to pitch in...
- If you have bad credit, when you leave your bank statements and Xeroxed copies of your social security card in a pile on your sidewalk on trash day, leave a note on top that reads "In Default" so I-thieves will know to avoid your identity.
- When you respond to an email requesting your bank account number, date of birth and mother's maiden name, if you have bad credit make sure to begin your response with, "Your funeral, but here goes..."
- Pay off home and car loans before credit card debt. Identity thieves can still get loans in your name if your only infraction is credit card delinquency, but defaulting on bank loans makes their effort to defraud you much more difficult.
While it's unlikely that Congress will approve a bailout of the identity theft industry, identity thieves are presently doing their best to steal the identities of top executives at AIG, Fannie Mae, and Freddie Mac. But until they are successful, your help is needed. Assist these forgotten victims of the financial crisis. If you have shitty credit, please, try to keep your identity to yourself.
Filed under: financial crisis, identity theft, financial crisis identity theft, economic crisis, Wall Street crisis, stock market crash, economic crisis identity theft, identity theft crisis, Wall Street bailout, economic bailout, 2008 bailout, identity crisis, midlife crisis, American economy, global economic crisis, Wall Street, Fannie Mae scandal, Freddie Mac scandal, Fannie Freddie crisis, mortgage crisis, loan crisis, stockmarket crash 2008
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