Follow these steps to help get back on track after falling victim to identity theft or ID fraud.
ID fraud occurs quickly and almost always without warning. It can take months to recover from normal circumstances, so knowing what is required to expedite the process is essential. If your identity has been stolen and your financial life is severely impacted, here are five steps to counter the event. Identity theft isn’t a flash-in-the-pan event you forget after a few months. Instead, its impact can last for months, if not years, and cast a massive shadow across your life. There is a psychological aspect to ID theft, one that can take its toll and leave you feeling at odds with everything you previously took for granted. Being victimized by criminals in this way can cause feelings of anxiety and violation. Sleep might also be affected – the Identity Theft Resource Center found that sleep disturbance affects 41% of identity theft victims. Financial security fears, a sense of powerlessness, and suicidal feelings also occur among identity theft victims. Of course, identity theft also impacts victims financially. You will almost certainly find yourself short of money for a time. Borrowing from family and friends, selling possessions to cover ID theft expenses, and even taking payday loans rarely make you feel better. On the contrary, the added stress of borrowing can cause further psychological stress. This can translate into physical illness, too. Victims of identity theft have reported everything from breathing difficulties, elevated blood pressure, and heart palpitations to fatigue, muscle aches, and even grief (of a loss of financial security, trust, and aspirations). Identity theft can rarely be recovered quickly.
