Once someone has your Social Security number, they can essentially become you. They may be able to collect tax refunds, collect benefits and income, commit crimes, make purchases, set up phone numbers and websites, establish residences, and use health insurance—all in your name.30 nov 2017
Can you get a loan in someone else's name?
No, in general, you cannot take out a loan in someone else's name. Doing this is fraud. Instead, you could cosign a loan with the other person. In certain cases, you may have a power of attorney for another person and can sign legal documents for them.27 jul 2021
Can someone else get a loan for you?
In most cases you cannot transfer a personal loan to another person. If your loan has a cosigner or guarantor, that person becomes responsible for the debt if you default on the loan. Defaulting on a personal loan is seriously injurious to your credit score.
Can someone take a loan out in your name without me knowing?
Originally Answered: Can someone take a loan out in my name? yes but that would be a fraud. identity theft happens a lot. if you see something suspicious contact the lender and all three credit reporting agencies and put a fraud alert on them.
Can someone take loan your name?
If someone does manage to steal your identity they could open bank accounts, obtain credit cards or loans, take out mobile phone contracts or buy things in your name. They could even apply for passports or driving licences, potentially doing even more damage to your finances and your credit rating.1 sept 2021