A recent study confirmed that over 16 million people were the victims of identity theft in the span of one year in America alone, which resulted in $16.8 billion in stolen money. Identity theft is dangerous to your wallet and to your credit. Identity thieves use your information to take out loans, obtain credit cards, make purchases, get apartment leases and much more. Since these items are acquired with your credentials, these people don’t bother paying bills on time or at all. In the vast majority of cases, when your identity is stolen you’ll be held responsible for all the outstanding debt.Warning Signs Of Identity TheftThe Federal Trade Commission has outlined some helpful warning signs to know if your identity may have been stolen. These include:Unfamiliar bank activity on your bank statementsCollection calls from debtors you don’t recognizeMerchants suddenly declining your check purchasesUnusual credit report activityLetters that you’ve been denied credit when you did not applyBills for services you didn’t sign up forUnusual lack of mailMedical claim rejectionsIRS notice that your refund was already disbursedPublished news that a company has had their data hackedYour wallet has recently been lost or misplaced