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What You Need to Know to Protect Your Social Security Number
The recent Anthem hack affected more than 8 million people whose social security details were stolen prompting widespread fear about social security number safety. The spate of identity theft is escalating and worrisome.
The after-effects of identity theft can have many negative impacts on your life. For example, if you have no identity theft insurance, that means you will likely spend better part of your day notifying agencies and businesses, credit card companies as well as credit reporting entities. To do these series of notifications, you will have to write letters that will need to be notarized, claiming you are indeed the innocent victim and not the architect of some reprehensible plot to ruin your own status. In addition, until the matter is resolved, you may have to face the possibility of a plummeting credit score, you may be denied credit for products and services, or may face higher interest rates when shopping for credit.
After the theft of a social security number, litigation may follow, and if your date of birth is also compromised, that can allow an identity thief to not only use your identity to acquire credit with your name, but also gain a passport or other official documents or file fraudulent tax refunds from the IRS.
With advancements in technology, it is becoming easier for identity thieves and hackers to gain access to your personal data which can be used against you in many ways and it may lead to litigations and credit repayment which you were not responsible for. Now, let us look at a few methods to protect your social security number.
Being informed and acting quickly after an identity theft may at least limit possible damages.