Last week we took a step back and defined exactly what identity theft is. Now let’s look at how it can affect you.

There are many areas of your life that identity theft can affect, including your finances, credit rating and overall reputation. Here are some ways thieves can impact you:

• Receive medical care under your insurance
• Receive government issued documents or identification with your name and their photo – impersonating you
• Use your name to open new accounts, such as credit cards, bank accounts, cell phone plans, etc.
• Apply for and take out a loan in your name
• Use your credit card to make purchases
• Empty out your bank account
• Use your information when being investigated or arrested by the police, creating a criminal record under your identity
• A growing type of identity theft involves your taxes. Thieves use your social security number to file a return and collect the refund. Or they could also start a job and have the earnings reported to the government as your income so you become taxed on that income.

As seen above, identity thieves can do damage to your personal life if they get ahold of your information. Be sure to take precautions with your information, look for any warning signs and always act on them right away  to correct any problems that come up if your identity is stolen.

 

Source: Identity Theft: Protect Yourself, Know What To Do by Positive Promotions