A Social Security number is granted by the government of the United States to all of its citizens, and permanent as well as temporary residents, who turn out to be eligible to get one. This nine-digit security number is issued by the Social Security Administration: a self-sufficient agency of the United States Government. Let us know about “What To Do When Social Security Number Gets Stolen?”
Initially created and granted to track individuals throughout their lifetime, the significance of this Social Security number has boosted over time, and now it’s used for miscellaneous purposes. Although most people might wield the same social security number throughout their lifetime, some do reach out for a new one due to identity theft.
How Does Social Security Number Get Stolen?
Due to the numerous advantages, it provides a Social Security number is one of the things most likely to get stolen. Thanks to the progressions in technology, there are multiple methods through which your Social Security number can get stolen. Security theft generally takes place either on a virtual platform or on a more personal and intimate level.
Some procedures through which your Social Security number can get stolen:
•Crucial documents like Financial Statements or Medical Bills usually have your Social Security number inscribed, and tossing such documents around out of unawareness might make it easy for the thief to obtain your Social Security number.
•It is completely normal for officials to ask for your Social Security number at banks and hospitals saying it out loud can lead to unwanted people hearing it and using it against your will.
•Fraud internet sites claiming to be genuine can ask you for your Social Security number, provision of which can let the hackers access it.
How Do Criminals Use A Stolen Social Security Number?
•Innovation Of Fresh Accounts
Generation of fresh accounts manipulating a stolen Social Security number is extremely modest. Fake accounts with the bank, the phone company, and many more organizations can be opened up in your name with a stolen Social Security number. While some of these organizations might require additional evidence, some get satisfied solely with a Social Security number.
•Optimization Of Your Benefits
A Social Security number comes with uncountable merits, such as medical care, and once stolen, your benefits can be utilized in your name and against your will. Some people do not even realize that their benefits are being taken advantage of by a corrupt user throughout their entire life.
•Acquisition of your payments and refunds
If you are accessing any payments or refunds using your Social Security number, the criminal might get his hands on your money and use it illegally for immoral purposes.
Safeguarding Your Stolen Social Security Number
In case your Social Security number has been stolen, you can go ahead with the provided steps to safeguard its recovery and restrict its misuse.
•Get in touch with the cops
As soon as you get the sense of the theft, notify the police. You must provide them with your stolen Social Security number so they can keep track of any violations committed in your name and any fraud payments made through your Social Security number.
•Lock up your credit reports.
Get in touch with any of the three National Credit Bureaus: TransUnion, Equifax, or Experian, and generate a fraud alert. A fraud alert will enable various legal organizations, such as the banks of your stolen Social Security number, and encourage them to take supplementary steps while analyzing your identity. Fraud alerts work as long as a year and are available without any fee. This will help in the prevention of any new accounts opening up or your credit reports being used against your will through your Social Security number.
•Carry out a plea for a new Social Security number
One of the most important things to do in such a situation is to acquire a brand-new Social Security number ASAP. The Social Security Administration grants new Social Security numbers and cards in such vital circumstances, and it’s a free-of-cost process. You must be 18 with a mailing address and a driver’s license to complete the process.
Uses And Privileges Of A Social Security Number
•Beneficial While Getting Hired
Wherever you go looking for a job, you are most probably asked for your Social Security number if you get hired. Your corporation will get your earnings documented with the Internal Revenue System (IRS) and your social security allowances documented with the Social Security Administration, using your Social Security number. They will also reveal your wages to the state’s income tax department if your state has got one.
•Ease in getting your loans finalized
Whenever you reach out for a loan, you will be asked for your Social Security number to make sure that you meet the limitations laid out by the authorities for the loan seekers. A Social Security number is helpful with student loans, federal loans, etc.
Summing up a Social Security number is a must-have as it confirms your identity and legitimacy, but it comes with a lot of obligations, and you must keep it secure at all costs.
Frequently Asked Questions
•How much money is delivered as Social Security at the age of 62?
You can attain approx. $2,364 each month.
•Will Social Security help finance my disability?
Yes, there are numerous advantages for the disabled.