Identity theft can have a devastating affect on a victim's life. By the time identity theft is discovered - on average 14 months after the crime - the thief has wrecked havoc on the victim's credit standing. Although the financial institutions ultimately carry the burden of the financial loss, the victim is often left with a damaged credit standing and must spend months or even years regaining their credit worthiness. In the meantime, they find it difficult to obtain loans, get a job or an apartment, even to write checks.
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