If you are a victim of identity fraud, also known as identity theft, you are not alone. In fact, the Federal Trade Commission reported that nearly 10 million Americans were victims of identity theft in 2002 alone. On average, identity thieves steal services, money, or goods that cost businesses and consumers more than $50 billion each year.

In 2002, the most serious of these thieves obtained an average of $10,200 worth of goods, services, or money by using the victim’s information. On average, the victims spent 60 hours resolving their problems, and many spent five or six times this amount.

Statistics show that you will likely be a victim of identity theft sometime in the next 10 years. You could spend hundreds of hours and dollars cleaning up the mess caused by identity theft. You might have a poor credit score, your credit cards could be canceled, and collection companies could start hounding you.

But if you are careful, you can minimize this by using a reputable identity theft and fraud-protection service. We recommend LifeLock, visit their website for more information.

If you are already a victim of identity theft, visit the Federal Trade Commission’s website for advice.