If you are in the process of getting a mortgage, getting a loan, or simply getting your credit reports, your identity will need to be verified first. In some cases, there are instances where no matter what information you provide, it doesn’t seem like it works. What’s really going on here? Why can’t my identity be verified? These are valid questions that might be a bit challenging to answer.
The process of verifying your identity ranges from validating your employment history, your credit accounts, and even just your social security number. There are reasons why your identity can’t seem to be verified and there are things you can do about it.
Why does my identity need to be verified?
Before you can get access to certain credit facilities (such as your credit report), agencies and companies must first verify your identity. This is because federal law prohibits access to such sensitive data to just anyone. The person requesting this information needs to be authenticated.
When it works, this is fantastic because you don’t want anyone just calling and getting your personal information. The individual will need permission and authorization from you first to get access to this information. These individuals range from your insurance, employer, and even utility companies.
Another huge Advantage of identity verification that people don’t realize is that it protects you from Identity Theft. In 2020 alone, it cost taxpayers more than $3.3 billion in damages incurred from Identity Theft. As much as it might seem annoying to have to verify your identity, this number would have been much worse without it.
What questions are used to verify my identity?
The type of questions differ based on what it is you are trying to access. Whenever you’re trying to open a new credit line or even access your utility bill, the company or agency will ask a variety of questions that you will need to know.
Some of these questions may include:
- Who is your current car payment creditor?
- What is your social security number and date of birth?
- Where did you live in The Last 5 Years?
- Who is your current employer?
- If you had a tax identification number, what is it?
These examples are just to name a few. The questions can be much easier or get more detailed, just depending on what you are trying to do.
What if my identity verification is denied?
If you believe that you answered all the questions correctly, but your identity while still not authenticated, there are possible reasons why it’s simply just failed.
Although this list is not exhaustive, here are a few examples:
- Their internet services may be down and failing to authenticate to your answers
- They have the wrong details on file
- Your own internet or browser might be having issues if you are doing this online
- You might have misspelled or misheard if it is through a phone call
- You might have a credit freeze on your credit account
If the reason for the verification denial is one of these things, then waiting a day or two and trying again might resolve it. This works out 90% of the time, but in some instances, you might still be having issues.
What can I do if my identity verification is still being denied?
If you have tried and tried everything but are still failing, then you might have to resort to sending your details by mail.
Sometimes computers and technology to not work in our favor. In those instances, it might be much easier and faster just to send the documents they need by mail. This will also depend on the Creditor or agency you are working with. Some simply flat-out refused to receive physical mail, but most do.
Since this is now physical mail, you should expect that your request will take much longer than a quick phone call. You’ll mail will have to be delivered first and processed before proceeding.
Getting your identity verified is an important step in a lot of important financial steps, such as opening a new account or getting some of your finances in order. It can be really frustrating if that process fails for any reason!
If this does happen to you, make sure you go over the steps outlined above to get your identity verified! 9/10 times, it should all go well. If all else fails, simply work with the organization that you are working with to figure out an alternative way of verifying your identity!
Good luck, and let me know If I this helped 🙂