Identity theft is a serious and increasingly common issue that can significantly disrupt your life. It has become so common that almost everyone reading this likely has either had their own identity stolen or knows someone who has. This blog, created by the Law Office of Gary Bruce, delves into the legal aspects of identity theft and what steps you can take if you find yourself a victim.

Understanding Identity Theft

Identity theft involves the unauthorized use of your personal information by someone else to commit fraud or other crimes. According to the Federal Trade Commission, as many as 15 million U.S. Citizens have their identity stolen each year, with an average loss of $3,500.00. The impact of identity theft can be devastating, leading to loss of funds, damage to credit, and a lengthy resolution process.

Handling Identity Theft Notification

If you find that your identity has been stolen, the initial steps you take are crucial. There is a good chance that by the time you become aware of the situation, the perpetrator already has access to your bank account, credit cards, and credit history. If you find out your identity has been compromised, it’s essential to:

  1. Place a fraud alert on your credit reports.
  2. File a police report with your local law enforcement agency.
  3. Report the identity theft to the FTC, the largest consumer protection agency in America.
  4. Contact your bank and credit card issuers to place a fraud alert and discuss any suspicious transactions.
  5. Freeze all debit and credit cards.
  6. Change any passwords you use online, especially for any social media, credit card, or banking accounts.

While individual lawsuits can be costly and offer limited compensation, joining a class action—a common response to large-scale breaches—can be a more efficient way to seek redress. However, recoveries in such lawsuits are often modest and primarily symbolic.

You probably remember the AT&T data breach this past year which left around 73 million customers without phone or internet service for most of the day. A class action suit was settled for $60 million—less than $1.00 per customer before legal fees are paid. So, getting insurance to take care of the problems or damages is probably better than waiting on a lawsuit.

Practical Advice for Victims

If you suspect identity theft, assess the direct damages: Are there unauthorized charges you’re responsible for? How much time and money will it take to correct your credit report? Though non-economic damages like stress and aggravation are harder to quantify, they are real impacts of identity theft. For many, participating in class action suits where available may provide the best chance of compensation, even if the compensation itself is minimal.

Real-Life Implications in the Chattahoochee Valley

In Columbus and Phenix City, our firm has encountered numerous cases where the effects of identity theft are profound but the financial recovery options are limited. However, our involvement in several national class action lawsuits—ranging from auto damage valuations to insurance misrepresentations—has demonstrated the potential for collective legal action to effect change and provide compensation, even if only modestly.  The truth is that most individuals can’t afford to take on a huge corporate giant (even if they can prove negligence) when the damages suffered are not substantial.  It just doesn’t make economic sense.

Support from the Law Offices of Gary Bruce

The Law Offices of Gary Bruce have over 30 years of experience providing trusted legal counsel in the Chattahoochee Valley. We understand the complexities of identity theft cases and are committed to supporting our community members through such challenges. Not sure there is much to do locally about such a claim, but if you experience a loss due to a systematic practice by a business in our community, we encourage you to follow up and give us a call.  Gary Bruce has handled cases over the years for people who were ripped off by title loan companies, muffler shops, insurance companies selling medical pay coverage and insurance companies who use third party companies to value the loss of their vehicle. Stealing a little bit from a lot of people seems to motivate a lot of bad policies by businesses.

For more detailed guidance on how to handle identity theft, watch Gary Bruce discuss this important topic on WTVM’s Legal Break in Columbus. Click here to view link and learn more about securing your personal information and legal rights in the face of identity theft.