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So you’ve heard about identity theft, and you’re determined to keep your privacy secure so it won’t happen to you. Unfortunately, for millions of Americans, it’s already too late. You may already be a victim of this ubiquitous crime without even knowing it.
Often the first time someone is aware that their information security has been breached is when they are unable to obtain credit. After an identify thief takes your private information and runs up tens of thousands of dollars of debt in your name, it comes as no surprise that financial institutions might not want to lend to you. A more subtle clue is that your private information may have been stolen is when you’re notified that you’ll be paying more now on your car or home insurance, or that your policy is being canceled all together, when there’s no logical reason the companies would want to make such a change. If your insurance rates are unexpectedly going up, that’s a red flag.
Often, people are embarrassed when they are rejected for credit, so they don’t follow through and find out why. They assume that the rejection is their fault, not that they are the victim of a crime. Being turned down for a job may also be the result of identity theft. When you are rejected, rather than being ashamed, this is the time to get a copy of your credit report and look it over for anything that may be suspicious. If you are young and don’t have a long credit history, a breach in your security will show up relatively fast. If you have decades of established credit, it could be years before the actions of an identity thief would cause you to be rejected for something.
Another way to find out your private information has been stolen is if the IRS asks you for back taxes on jobs you never worked, or you are asked to make payments on a car loan or a mortgage that the identity thief has defaulted on.
