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 Theft
The 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 statements
- Collection calls from debtors you don’t recognize
- Merchants suddenly declining your check purchases
- Unusual credit report activity
- Letters that you’ve been denied credit when you did not apply
- Bills for services you didn’t sign up for
- Unusual lack of mail
- Medical claim rejections
- IRS notice that your refund was already disbursed
- Published news that a company has had their data hacked
- Your wallet has recently been lost or misplaced
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