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With credit scores more important than ever, more and more thieves are turning to identity theft to allow them to do and have the things they want to do and have. And these thieves are bold in their approach to getting their hands on your identity.
Once they have a few details like your social security number, date of birth, and address, they can proceed to create their own new identities - as you.
The worst part is, because they'll change your address on any credit card accounts you haven't been using, and of course will use a different address when making application for new credit, you won't have a clue until you try to use your credit yourself. That is, unless you check your credit report regularly.
Some thieves, unable to gain employment, will use not only your good credit scores, but your work history and professional credentials. Suddenly, a person who flunked out of 9th grade has a University Degree! So they get the job... but what happens when he or she is fired for poor work performance? It goes on YOUR record.
For those proficient in the use of the internet, all the information they need to assume your identity is easily obtained.
Along with using your credit scores to obtain new credit cards or car loans, these thieves will use your personal reputation to enable them to rent a house or apartment. Individuals who have repeatedly "run out in the middle of the night" leaving unpaid rent and a "trashed" rental unit are now free to start over. The problem is that the next time they do it, it will be YOUR name that is blackened, and YOU that the landlords seek to gain restitution for damages.
How can you protect yourself? You can't. Not entirely. In our electronic era, information about all of us is "out there" ready to be found by anyone with the skills and determination to go after it.
The only protection is early detection, and that's why it's so important to get your credit report and review it carefully - and to keep watch over it. Anyone with good credit should either review his or her report monthly, or sign up for a service that alerts you each and every time there's a change or new entry.
Then, if someone suddenly changes your address, you can take immediate steps to stop them in their tracks. Nipping a problem in the bud is a lot better than making application for a loan and being turned down - because you're wanted by collection agencies and angry landlords!
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