No other piece of documentation matches the social security number in importance. That is why it is a prime target for identity thieves, who will use it alongside your name and address. As a citizen, it is your primary responsibility to take care of your social security number. Failure to which will expose you to damage or liability when identity thieves get hold of your card. The thieves take a keen interest in the name and address. It is no surprise that the SSN Social security number can fetch a handsome price in the black market.
Once stolen, the level of access to your personal information or finances should be worrying. The culprit will have the same access the legitimate cardholder has. If they were after your money, they could rob your finances or even property. If the SSN card is used in another crime by the same robbers, the police will start their investigation at your house.
You can easily close down a credit card once stolen. Banks today have invested in sophisticated security that will complicate credit card theft. If you notice that your credit card is stolen, here are some steps you can take before you apply for a social security card.
Contact the Big Credit Reporting Agencies
The outreach intends to have a fraud alert placed on that credit file. The card will also be barred from transacting. When you contact one of the credit reporting agencies, they pass on the word to the other two.
There is no charge for setting up a fraud alert. You then have to renew it every 90 days or so. Only let go when you are certain that the matter has been remedied. You can contact the social security administrators to process a new replacement card and number.
How to Get a New SSN
People trying to find a job uses most of the stolen security numbers. This does affect the rightful users of the current number. Other people use the SSNs to engage in bank-or-retail fraud, as well as the IRS.
- If you notice no incident after several years of silent monitoring, you are still not out of the woods. The best alternative is to apply for a brand new SSN. Here are some of the steps to consider.
- When applying for a new SSN card, the process is quite complex given the liability of proof is on your shoulders. You must show how it resulted in lost mortgage, headwinds with the authorities, among other complications.
- A new social security number is no guarantee that your identity theft concerns are alleviated. The old number remains valid, and government agencies will link it to its first original owner.
- The new SSN arrives with a clean bank credit history. The first few years will be challenging for those seeking credit. You will be forced to link your old tainted number as a support of your creditworthiness.
- The decision to grant a new SSN solely relies on the Social Security Administration. If the agency feels you do not need a new number, they will deny your request.