Are you one of those individuals wondering what to do if you lose your social security card? In reality, it can be a very problematic scenario. For starters, it is a good idea to understand what social security cards can actually do to our daily lives. The social security card contains the social security number. In fact, this is the reason why a lot of people consider the social security card as the most important document that should be protected at all times.

It is not given to anyone. The social security number is only exclusive to US citizens and to people who can work temporarily in the US.

If you think that identity theft can only occur online, you will have to rethink again. There are many ways how someone can steal your information. In fact, if you are not careful about the documents that you fill out, there is a huge chance that your details will be used.

What can identity thieves do?

There are a lot of things that criminals do with your social security number. For instance, they can avoid taxes when they provide your social security number. You may be caught in surprised if the IRS suddenly wanted to talk to you about your unmatched income and your tax.

There is also a possibility that they may open an account using your social security number and be able to even get a loan. You may even end up in financial ruins if you someone decides to get a loan that you didn’t approve of. Also, you may be deprived of your benefits if someone decides to file for unemployment.

These are just some of the realities that you have to understand when it comes to losing your social security card.

What exactly should you do?

It is important to be aware of your credit rating, bank accounts, and even the taxes that you are supposed to pay if you wish to minimize the damage. Be sure that you contact the authorities in order to file the necessary case.

Also, you want to make sure to get a credit report regularly. This way, you will be able to monitor if there’s already an effect in your credit rating. And of course, you should call your bank about the situation that you are involved in. It is possible that you dispute the case.

Getting a new number?

There are people looking to get a new social security number. If you are going to have a new one, keep in mind that this is not going to be easy. The final decision whether or not to give you a new social security number will be coming from the social security agency. They have to make sure that you’ve exhausted all your means in order to have a prevent identity theft. Also, make sure that you have evaluated the scenario. You will have to build on our credit all over again. And keep in mind as well that you will still need to monitor the social security number that has been stolen.