Identity theft is a deeply serious matter. This type of fraud can result in someone’s identity being used to create accounts and run up charges that they didn’t consent to. The Federal Trade Commission (FTC) created the identity theft affidavit in 2002 to address this problem and help victims recover from this fraud.
As of 2021, identity theft is still the most common report the FTC receives. Read on to learn more about how the identity theft affidavit works and how it can help you if you are impacted by identity theft.
What is the FTC Identity Theft Affidavit?
The identity theft affidavit was launched in 2002 by the FTC to help people affected by identity theft; it aims to make it easier for identity theft victims to notify companies that they have been impacted by fraud. One reporting form will alert multiple companies/credit agencies to watch out for accounts in the victim’s name that may be fraudulent. After the form is submitted, the FTC works to help the victim start recovering from the fallout that can occur with identity theft.
How Does it Work?
The Identity Theft Affidavit uses three steps to help victims in identity theft cases. First, victims file a report with the FTC using the form and describe exactly what transpired. Based on the form’s information, the FTC creates a recovery plan personalized to the victim’s unique situation and needs. The final step in the process is to execute the plan. During this stage, the FTC will help the victim take the actions recommended to recover from identity theft.
How Can this Affidavit Help Victims of Identity Theft
Identity theft can set people back tremendously, both financially and from dealing with an emotionally strenuous situation. The identity theft affidavit aims to help simplify recovery for identity theft victims. The concept is that victims can report their identity theft once and not have to approach different agencies to make all parties aware; this is a key part of recovery for victims to ensure that they are not held responsible for large purchases they didn’t make due to lack of visibility.
Don’t Let Identity Theft Ruin Your Life
Identity theft can have drastic consequences on those impacted by it. While the identity theft affidavit was a big step forward for victims, it’s a process that many struggle to navigate, and most need the assistance of attorneys familiar with the system.
If you’ve been affected by identity theft, help is available to you.
How the Holland Law Firm Can Help
Sometimes identity theft results in the loss of a job offer or a security clearance. Other times, it results in the denial of a mortgage, apartment, or car loan. It often results in numerous fraudulent credit card accounts being opened, damaging your credit score and even resulting in wrongful debt-collection lawsuits.
Contact us if your credit has tanked (or worse) due to identity theft; we can help. We use the Fair Debt Collection Practices Act and the Fair Credit Reporting Act to help you stand up and fight back against wrongful debt collection and inaccurate credit reports. And in many cases, you may be entitled to have your attorney’s fees paid by the other side, pursuant to fee-shifting provisions of various consumer protection laws.
Contact us today to set up a consultation with an experienced identity theft lawyer.