Christmas Is Big Business for Identity Thieves

Tis the season for thieves to cash in on stealing your identity.

A new report from the Federal Trade Commission paints an ugly picture of the mess identity theft victims are left to clean up.

More than 8 millions adults in the U.S. in 2005 were hit with identity theft.

In 10 percent of those cases, victims paid at least $1,200 to settle charges of stolen or fraudulent credit cards or bank accounts.

Nearly 40 percent of victims reported being harassed by debt collectors, denied credit or loans, having utilities cut off, and even getting sued.