What Damages Can I Recover in Identity Theft?

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It’s essential to understand how detrimental the impact of identity theft can be on victims. It can destroy credit, cause stress and anxiety, and even impact employment opportunities. However, many never receive compensation. This is because they may not know they are entitled to compensation! You’ll want to keep reading if you’ve been affected by identity theft. You’ll discover how you can recover damages and whether or not you can receive compensation with the help of a Los Angeles, California identity theft lawyer.

Who Can Be Liable for Identity Theft?

Before you can pursue damages for identity theft, it’s imperative to understand who can be held liable for the effects. Generally, the individual who has stolen your identity is responsible. However, it can be challenging to locate these people, especially if the theft occurred online as part of a breach. This does not mean you will not receive justice. Instead, third parties can also be held responsible, if the perpetrator is not apprehended. In some cases, they may also be liable even if the individual is caught.

For example, if your personal information was leaked in a data breach, the company may be held responsible if it’s discovered that their security was not up to standards, thus failing to fulfill their fiduciary duties to you as a consumer. These third parties often include credit unions, merchants, employers, banks, and other financial institutions.

How Are Damages Calculated for Identity Theft Victims?

There are a number of ways that someone can receive financial compensation for the injustices they’ve suffered as a victim of identity theft. This includes compensatory damages, which are the damages you’ve incurred as a direct result of the identity theft. For example, if someone steals your identity and opens a credit line that impacts your credit score, you may end up with higher insurance premiums. You can receive compensation for the extra money you’ve had to pay as a result of the theft.

However, you may also be eligible for punitive damages, though these are often rare. In this instance, you can receive additional compensation while the defendant pays supplemental damages as a punishment to deter them from continuing this behavior. Additionally, you may be able to receive non-economic damages, like compensation for pain and suffering or humiliation as a result of the identity theft.

If you’ve been the victim of identity theft and have suffered any damage as a result, it’s imperative to contact an attorney as soon as possible. At LA Legal Solutions, our dedicated team is devoted to helping you navigate this unfortunate and stressful situation. Contact us today to learn how we can help you receive justice for the compensation and justice you deserve.

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