If you’ve been receiving strange phone calls about debts you don’t recognize or alerts from your bank account that indicate potential fraud, it’s imperative to understand that these are signs that your identity has been compromised. Unfortunately, this can be a very difficult matter to navigate, and you may be left with a considerable amount of damage as a result. Identity theft can create significant financial and emotional harm for victims, as it can result in financial losses, drops in credit score, reputational damage, and even impact your peace of mind. However, it’s imperative to understand that you may be able to seek compensation for the damages you’ve suffered. The following blog explores who can be held responsible for the dissemination of your sensitive information, what damages you are eligible to recover, and why working with a Michigan identity theft lawyer is in your best interest.

Who Can Face Liability for Identity Theft in Michigan?

When your identity is stolen, it’s imperative to understand that finding the party directly responsible for the theft of your personal information can be incredibly difficult. Those who commit identity theft are often technologically savvy and able to cover their digital tracks, making it hard to trace these individuals.

As such, many identity thieves are left unprosecuted.

However, if another party is responsible for failing to protect your personal information, thus allowing it to be accessed by thieves, they can face liability. This is because these entities are required to protect these sensitive details, and if they fail to do so, they can be responsible for the damages you’ve incurred as a result.

Entities That May Be Held Responsible

  • Medical offices
  • Creditors and debt collectors
  • Financial institutions
  • Employers
  • Online retailers
  • Social media companies
  • Government entities

How Identity Theft Happens

Identity theft can occur in a number of different ways. With the growth of online services and digital storage, criminals have developed many methods for obtaining personal information. Understanding how identity theft occurs can help consumers recognize risk and secure their information.

Common Methods Criminals Use to Steal Identities

  • Phishing scams: Criminals impersonate banks or trusted companies through emails and phone calls to obtain passwords and financial information
  • Data breaches: Hackers infiltrate online databases of retailers, healthcare providers, and even government agencies to access stored consumer information
  • Hacking unsecured networks: Public or poorly secured wireless networks can allow criminals to intercept personal data
  • Malware and spyware: Suspicious downloads can result in malware entering your devices, ultimately allowing the thieves to access keystrokes and
  • Account taken: Criminals gain access to existing accounts and change passwords to lock out the victims

What Damages Can Michigan Victims Seek?

Identity theft victims may recover both financial and emotional damages, depending on how the theft has impacted their finances, credit, and emotional well-being.

If you have had your identity compromised, you can endure a considerable amount of damage as a result. One of the most pressing matters revolves around your credit score. When your identity is used by another person, they may make purchases in your name that they fail to pay off. As such, you can be stuck with the outstanding debt in your name, as well as a decimated credit score.

In addition, your lowered credit score can result in higher interest rates, denial of loans, and reduced credit limits. You are eligible to seek compensation for these financial damages as a victim of identity theft.

Economic Damages Victims May Recover

  • Outstanding debts created through fraudulent accounts
  • Unauthorized purchases using stolen financial information
  • Costs associated with repairing or monitoring your credit report
  • Lost wages from time spent resolving identity theft issues
  • Legal expenses

Can Identity Theft Victims Recover Emotional Damages?

In some cases, identity theft victims may be able to recover compensation for emotional distress in addition to their financial losses. Emotional damages may be available when the theft results in significant stress, anxiety, or reputational harm.

It’s no secret that being a victim of identity theft can also take a toll on your mental state. You may find that this can cause a considerable amount of stress and anxiety. You may worry about your finances, whether or not a creditor will knock on your door, or if you will be sued for a debt you don’t know about because of the actions of another person.

Emotional Harm Caused by Identity Theft

  • Anxiety
  • Stress
  • Depression
  • Sleep issues and insomnia
  • Physical health issues
  • Emotional trauma

Contact a Michigan Identity Theft Victim Defense Attorney

When your identity is compromised, enlisting the assistance of an experienced identity theft attorney is critical. At Lyngklip & Associates, we understand how difficult these matters can be, which is why we are committed to assisting you in the fight for justice. Contact us today to learn more about how we can assist you.