Not Just a Financial Toll: Some Victims of Identity Theft Consider Suicide

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by Herb Weisbaum 
Identity theft can be more than a hassle — replacing credit cards, closing bank accounts, or changing passwords. But for some victims, it can be a life-altering experience that also causes serious emotional problems and can even drive some to consider suicide.
“Some victims get very depressed. They feel shame and embarrassment. They feel extremely vulnerable,” Eva Velasquez, president and CEO of the non-profit Identity Theft Resource Center, told NBC News. “There are some really, really strong emotions that go along with this crime.”
For its 10th annual Identity Theft Aftermath report, ITRC surveyed 176 victims across the country to gauge the long-term impact of having their identity stolen.
The top three financial impacts of identity theft were not being able get credit cards (38 percent), being denied a loan (34 percent) and being in debt as a result of the crime (28 percent).
Physical and emotional consequences included stress, trouble sleeping, inability to concentrate, fatigue, and panic attacks. The survey found:
  • Three-quarters of the respondents were severely distressed over the misuse or attempted misuse of their personal information
  • Nearly 80 percent felt annoyed or frustrated; 56 percent said they felt anger or rage
  • Nearly 67 percent were afraid for their financial future; 37 percent worried this incident would harm their family’s financial security
  • Sixty-six percent felt violated; 58 percent felt vulnerable
  • Seven percent said they considered suicide
Many victims do suffer significant financial problems, which can add to the emotional burden. Some sell possessions to pay for expenses, while others pile up credit card debt.
The report, released in October, concludes: “Whether borrowing money from family or friends, applying for government benefits, or having to change jobs, victims are not only having money taken from them by a thief, but they are having to spend their own money — and others’ money — to regain their footing and return back to a somewhat normal life, pre-identity theft.”
Read full article/ article source: NBC NEWS
Location: Los Angeles, CA, USA

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