Identity theft is an ongoing problem in the United States and beyond. With how digitally connected the world is, it's easier than ever for thieves to access your personal information. Whether they impersonate you to take out a loan or participate in fraud using a synthetic identity, the results can be detrimental. Visit this website to know more about how to reduce frauds using synthetic identity.
But how do you know if you're a victim? Here are a few signs that could indicate that your personal information is compromised.
Inaccuracies in Your Credit Report
Here's why regularly checking your credit report is vital. Many fraudsters will use your information to open lines of credit. They might use it to get a small credit card or apply for a massive loan they never intend to pay off. Because it's under your name, you're the one that suffers.
Looking at your credit score is the best way to spot potential issues. Something is up if you notice new accounts, higher-than-normal debt figures, or recent inquiries you never requested.
You're Denied Credit
If you believe you have a relatively good credit score, you might forgo the constant checking and apply for credit whenever you need it. But despite your good record, you get rejected.
When that happens, it could mean that your credit score dropped due to fraudulent activity.
Calls from Debt Collectors
Debt collection calls are a common sign of identity theft. A criminal could use your personal information to open up credit cards or get loans, leaving you to pay the bill. Because it's in your name, debt collectors go after you to reclaim the assets.
Getting Unknown Bills
Some victims of identity theft will get medical bills, credit card statements, and other questionable financial documents. They might not even have your name, but the address provided is yours.
In some cases, criminals will commit fraud using a synthetic identity. The technique involves combining fake and factual stolen information. This form of identity theft is becoming increasingly common, presenting issues to innocent people around the country.
Identity theft is no joke. If you notice these red flags, take action as soon as possible to address them and preserve your financial well-being.
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