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STOLEN Social Security Number? | This is What REALLY Happens - YouTube
Channel: Holy Schmidt!
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in this video i discuss what really does
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and doesn't happen
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when your social security number is
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stolen coming up next
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on holy schmidt holy schmidt
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there's a great deal of panic when the
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subject of a stolen social security
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number comes up
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in fact the mind goes to pretty dark
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places for some people
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will someone work pretending to be me
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will the taxman come after me for back
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taxes on income
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that i never earned will the police come
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knocking at my door
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accusing me of crimes i didn't commit
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well my credit get ruined by someone who
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takes out a credit card
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charges it up and never pays it back
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will i be destitute in retirement
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with someone who is receiving my social
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security payment
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pretending to be me making friends under
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my name
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this video will separate fact from
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fiction so that you know exactly what
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happens
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when someone gets a hold of your social
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security number
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let me begin this video by making one
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very bold statement
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that most people don't know but will set
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the stage for everything
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that comes next and that is your social
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security number was
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never intended to be identification
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if that was the case your social
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security number would actually have your
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picture on it
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and would be renewed every four to eight
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years like your driver's license
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it is this very reason that dealing with
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a stolen social security number is
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problematic
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if someone steals your credit card the
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chargers are removed and you get a new
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card
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with a new number within a few days if
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someone steals your social security
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number getting a new social security
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number
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is right up there with getting a
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presidential pardon maybe not quite that
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extreme
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but it is extremely difficult so what
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can someone do with your social security
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number
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as it turns out not much without other
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information have you ever applied for a
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loan for example
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and filled out two boxes what's your
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name and what's your social security
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number
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no of course not so job number one
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is keeping your social security card
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separate
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from your other identification i
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wouldn't carry it around in your wallet
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for example but in reality when someone
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gives up their social security number
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they're usually giving up the other
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information as well
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phone scams internet phishing scams and
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meticulous
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stocking occasionally are how the
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thief gets a hold of your information
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including your social security number
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by the way regarding third point someone
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stalking you watching you
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it's much less likely and much more time
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consuming
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for someone to do that it's unlikely in
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fact that they'll commit to days and
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days of
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observation just to get a hold of your
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information
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this isn't the cloak and dagger world of
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espionage
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it's more likely they'll get your
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information by calling you and
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pretending to be someone else
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the angry irs agent is a classic example
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if you haven't gotten one of those phone
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calls yet you probably will
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by the way when that happens simply get
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their name and telephone number
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and tell them that you'll call them back
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if they ask if there's a better time
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say no and just get their name and
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information
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if it really is the irs they'll give you
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their name and contact information
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but my bet is nine times out of 10 maybe
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even 99 times out of 100
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the person on the other end will just
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hang up and you won't hear from them
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again
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however if someone does get a hold of
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your information
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here's what they can do with your social
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security card
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when you pair with other things like
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your name your birthday etc
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the first thing is get a credit card
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under your name even though social
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security cards are not considered
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identification
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interestingly almost every credit card
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application
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asks for your social security number a
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thief can use your number
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and other information apply for a credit
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card charge up the balance
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and then walk away leaving you with the
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problem
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30 60 90 days later along those lines a
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question that's often asked is can
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someone access my bank
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information using just my social
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security card it would be very very
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difficult
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banks require multiple forms of
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information when you walk into your bank
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for example
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they require not only your atm card
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but a password and photo identification
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the same is true with online banking by
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the way online banking usually requires
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a username
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a password and most of the time there's
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two-step identification
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which means that you will get a five
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digit code by text or by email
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and you have to enter that code to
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proceed and if you call up someone on
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the other end
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the customer service representative will
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ask you a series of questions
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your mother's maiden name your place of
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birth the name of your first dog
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etc there's a lot of work that goes into
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keeping you protected so i would feel
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very comfortable
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that someone can't access your bank
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information with just your social
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security
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card number the next one this is a big
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one
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ripe for fraud is getting medical care
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under your name using your social
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security number
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this is problematic for three reasons
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the first is that hospitals generally
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don't refuse service so that if i walk
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into an emergency room
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and i have any form of identification
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they're going to take it and they're
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going to get me into
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service the problem that i'm there for
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the second is that when you do give them
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the information
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they don't do a background check they
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don't run a credit check usually
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because minutes count when you're in the
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hospital
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and the third and final point is that
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when you walk into a hospital chances
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are good
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you'll never be going back again that
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also means that they don't know you
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as you walk in the next point is filing
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a fraudulent tax return
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someone gets a hold of your social
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security number your
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name and your birth date and they can
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file a fraudulent on the tax return they
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file ahead of you
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so by the time you file your tax return
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you'll probably get a statement that
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says
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duplicate return filed either in the
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mail if you're doing it
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the old-fashioned way or electronically
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if you're doing it using one of the
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services
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that people use to file tax returns the
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next point is the criminals use your
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identification
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your social security number when they
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get caught
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the criminal record could prevent you
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from getting jobs could prevent you from
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getting credit
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and you might even have someone knocking
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at your door when
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the criminal doesn't show up for their
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court date the fourth point is that
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sometimes they just steal your benefits
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they file for unemployment under your
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name for example and that could go on
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for six months maybe even longer
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or they file for social security
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benefits while you're still working
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and in either case you won't find out
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about it potentially for
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months or even years and when you do
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you're going to have to spend a lot of
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time undoing what they've done
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so that you get the benefits that you
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deserve one of the best things that you
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can do
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at least on an annual basis anyway is
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check your credit report
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a lot of these irregularities will show
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up on your credit report
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either through a credit line that you
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know you didn't open
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or an address that you never lived at if
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you see any of that on your credit
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report
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take steps immediately to manage your
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identity theft through an identity theft
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service and also notify all of the
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credit agencies
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that that information is not about you
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if you like this video please make sure
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you click subscribe notifications
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so that you get alerted the next time i
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post a video information about social
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security is changing fast
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and i work very hard to get what's out
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there and here for you
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also check out this video on the maximum
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possible social security payment anyone
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can receive in this country
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this is jeff schmidt thanks for watching
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