Warning signs of identity theft

When shopping for a mortgage loan it’s a good idea to speak to both brokers and direct lenders. Because mortgage brokers have access to hundreds of different lenders and types of loan programs.

1. A strange charge on your credit card bill

   When reviewing your bank account, do you ever notice a charge that you don’t remember making? Even a small discrepancy can indicate fraud. Sometimes criminals make a test charge just to be sure a transaction will go through before making a bigger move.

2. Credit card bills stop coming in the mail

   If you didn’t opt-in to paperless billing but some of your mail isn’t showing up, now’s a good time to give that company a call. Identity thieves will file for a change of address to get their hands on your mail. Most of these documents contain sensitive personal information that can be stolen.

3. Your credit score is going up

   Although this may seem counterintuitive, a rising credit score when you haven’t done anything to earn it can indicate a fraudster is trying to extend credit in your name before running through it.

4. Your credit score is going down

   There are lots of reasons why your credit score could have gone down, like if you recently applied for a loan or had a bill go into collections. If your credit score has dropped and you can’t explain why, however, you could be a victim of identity theft.

5. You get a tax transcript that you didn’t request or your electronic tax return is rejected

   Identity thieves will use your information to file a fraudulent tax return with hopes of claiming your refund. In most cases, you won’t find out until a second tax return is filed and rejected by either you or the thief using your identity.

6. You’re unexpectedly denied for a credit card or loan

   If you thought you had good credit, but then your application for credit is denied, this might be a sign that an identity thief has tampered with your credit history and negatively affected your credit score.

7. There’s a new account you didn’t open on your credit card

   Identity thieves will apply for credit cards and open new accounts using your name once they have access to your personal information. Most of the time, they’ll try to max out the credit card before the victim notices and the account is closed.

8. Inaccurate medical records

   It’s possible for someone to steal your identity and use your health benefits without you knowing until you get a bill in the mail or are unexpectedly denied coverage because an identity thief has already maxed out your limit of benefits.

9. Debt collectors call about accounts you never opened

   If you receive collection calls about debts that you don’t recognize, this is a sign of identity theft. Identity thieves will often use your credit to purchase things, then leave you with the bill.