You most likely don’t use your number for Social Security very often. You might not even be able to memorize it. However, one crucial piece of information is your Social Security number. You will be required to give this number to file a tax return, register for a loan, or accept a job offer. Additionally, if your number for Social Security falls into the wrong hands, there may be terrible consequences. If a criminal obtains your Social Security number, they can use it for a variety of illegal activities.
Lots Of Adverse Consequences
Unknown to you, someone might make a credit card in the name of, run up charges, and neglect to pay the balance. When that occurs, your score on the credit report could suffer significantly, and you might not even realize it until you try to file for a new credit card or loan on your own. Your Social Security number might be used by a thief to submit a tax rebate on your behalf & obtain your refund. Furthermore, once you reach the age of sixty-two and become qualified for Social Security payments, someone may file a claim and take those benefits from under your nose. All they would have to do is direct that money into a managed account. It’s incredibly easy.
Even with the utmost caution, there are scenarios where the number assigned for your Social Security may fall into the wrong hands. For example, in the event of a data breach at your bank, someone might obtain your Social Security card number and utilize it against you. However, there are a few actions you can take to steer clear of such a situation. Don’t bring your card for Social Security everywhere. Additionally, exercise caution when sharing that number. And never distribute it without permission. Seniors are frequently the target of scammers who phone and threaten to deduct benefit payments from Social Security if they fail to comply by providing basic financial information. The SSA won’t ever do that, as you should be aware.
Do This In Case Your Social Security Number Is Stolen
Get in touch with the SSA and seek advice if you have any cause to suspect that someone has stolen your Social Security number. How may that appear? Let’s imagine you attempt to apply for Social Security and discover that your application is already on file for benefits. It is the kind of thing you should make an effort to avoid. In a similar vein, imagine if you were receiving benefits from your Social Security each month when all of a sudden, they stopped. That’s another matter that has to be looked into right away.
Now, the SSA isn’t able to help if someone has used your number to obtain an entirely novel credit card in your name, for example. If so, you should report that action by visiting IdentityTheft.gov. Federal Trade Commission is in charge of overseeing that website. If you believe there has been any tax fraud involving your Social Security number, you might also wish to get in touch with the IRS. The fact that thieves may do so much damage with a number issued by Social Security is regrettable. And whether or not you are of retirement age, the repercussions of having yours taken could be significant. Because of this, it’s critical to take all reasonable precautions to protect that number and to be prepared to act appropriately if it does end up in the wrong hands.
