He talks with Cheryl Glaser on Thursday mornings. By co-opting your name, Social Security number, credit card number, or some other piece of your personal information for their own use. In short, identity theft occurs when someone appropriates your personal information without your knowledge to commit fraud or theft.
Thieves can steal a person's identity by gaining basic information about that person.
Once a thief has gained basic information about a victim, they can open credit card and bank accounts, establish phone service, file for bankruptcy, buy cars and take out loans in the victim's name. After this has happened, your credit records, reputation, and many other facets of your life can be permanently affected. Because of the fraudulent activity being perpetrated under your name, you can be turned down for job offers, get harrassing phone calls from debt collectors, be denied for loans, have your checks bounce or be rejected for credit cards. The thieves will often leave enormous unpaid debts behind, which could lead to a criminal record in your name. This happens because many companies are slow or fail altogether to close unauthorized accounts after they have been reported.