How can you recover from identity theft?
Having your identity stolen can be an overwhelming experience. It often takes a financial and emotional toll.
So, how can you recover from ID theft?
The first step is discovering the ID theft:
According to a source, financial institutions and credit monitoring service companies are becoming better at catching identity fraud. In 2012, a bank or credit card issuer alerted consumers of the identity theft.
However, you still need to be vigilant. The study highlights that 50 percent of consumers found the fraud themselves by monitoring their bank accounts, credit card statements and credit scores and by purchasing identity protection services.
How long the process may take:
The Federal Trade Commission (FTC) estimates that it can take approximately six months and 200 hours of work to recover from an identity theft. This estimation is based on the amount of work needed to follow the necessary steps to ensure the victim is not responsible for the debt incurred.
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