How Can Identity Theft Affect Another Person’s Credit Score?

Posted on in Fraud

Illinois defense attorney, Illinois criminal justice system, Illinois criminal lawyer,Identity theft is a very serious crime that can come with unwanted consequences. This type of crime may destroy your life, as you may spend time in jail, pay hefty fines, and even lose future employment opportunities. As for the other person affected by identity theft, he or she may experience in a lowered credit score and may lose all other forms of credibility.

Consequences of Identity Theft on a Person’s Credit Score

If a person has been affected by identity theft, then he or she may experience a harder time applying for credit cards and loans. If a person committing the crime applies for a credit card or any other type of loan using the other person’s name, the chances are very good that he or she will never pay off the balance, or the thief will never make the payments on time. One missed payment on a credit card or loan can easily drop a person’s credit score by over 100 points.

A person committing the identity theft often racks up a high balance on a credit card and does not pay off the debt. He or she often maxes out the amount on the card, and the credit score of the person affected can be lowered by as many as 45 points.

Penalties for Identity Theft

Identity theft of credit or money of value that does not exceed $300 is a Class 4 felony. If the person who commits the crime has been previously convicted of a second or subsequent offense may be charged with a Class 3 felony. Identity theft of credit or money valuing between $300 and $2,000 is a Class 3 felony, and this type of crime of credit or money valuing more than $2,000 but less than $10,000 is a Class 2 felony. A person may be guilty of a Class 1 felony if he or she commits identity theft of credit or money that values between $10,000 and $100,000 altogether. Lastly, identity theft of credit or money of value that exceeds $100,000 is a Class X felony.

Call a Chicago Criminal Defense Lawyer

If you have been charged with identity theft, causing destruction of another person’s credit score, you will need effective legal representation. At the Law Offices of Hal M. Garfinkel LLC, Chicago Criminal Defense Attorney, we have protected the rights of our Cook County area clients in various criminal defense matters for over 28 years, so you will be guaranteed a quality experience. To schedule a free initial consultation, please call a Chicago federal crimes defense attorney at 312-629-0669 to discuss your case.


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