It is a silent crime with loud repercussions. Identity theft is a consequence of a society that is increasingly more Internet connected and cashless. Accounts on lines can be hacked into and a bystander at an ATM machine can copy debit card numbers. The average direct material cost to a victim is approximately $5000. That is in addition to some sizable indirect damages.
The Aftermath of Identity Theft
It would be enough of a problem if all that was taken happened to be cash. When a person’s identity has been stolen the information is used by the thief to commit more extensive crimes. There have been numerous cases of stolen identity used to open up bogus credit card accounts that are maxed out almost immediately. The victim is left trying to recover from this and credit rating can suffer immensely. Cleaning up all the damage can take months and even years with a lot of paperwork needed to reestablish a respectable credit rating. It is a serious paper mountain that has to be climbed.
Management cannot simply walk away and say that this is a person’s own problem. Government contracts may require background checks which include credit status, and credit scores damaged by identity theft may place a contract award in jeopardy. New Jersey has laws on the books regarding identity theft but too often the theft is discovered long after the event, and a criminal has made an escape. Countrywide Pre-Paid Legal Services provides group legal plans that address identity theft in a special way.
Solid Identity Protection
Countrywide offers employers the opportunity to establish a voluntary payroll deduction plan that includes identity theft and credit monitoring. The Platinum ID Protector Plan allows the members to have access to credit reports which immediately identify any change in credit scores. The information allows the victim to quickly report an instance of identity theft, helping law enforcement in the apprehension of the thief. Additionally, $25,000 worth of identity theft insurance is available through this group legal benefit to help defray the expenses incurred.
Even though the criminal is caught there remains the task of rebuilding financial reputation and that can require the processing of legal documents. Attorney fees can be quite high and the victim may lack the means to afford them. That is not the case with any member of a group legal plan. Those who participate in such a voluntary payroll deduction arrangement will discover that the coverage makes the expenses more manageable. The rehabilitation of credit ratings can be a long drawn out process, but with the assistance of Countrywide’s network of highly qualified attorneys and Credit Advocates the process can be completed in weeks rather than several months.
There’s no question but that an episode of identity theft can drain an individual emotionally. There will always be some sense of vulnerability remaining, but the benefits inherent in a good group legal plan will restore the financial damage committed. Countrywide has provided voluntary payroll deduction plans for legal services in New Jersey for quite some time. Employers who investigate what Countrywide has to offer discover almost immediately how effective these plans truly are, both in cost and in coverage.