A California man has been charged with identity theft and fraud after allegedly using a stolen social security number to obtain financing for a Dodge Hellcat, creating a trail of financial harm for the identity theft victim in addition to the criminal exposure for himself. The use of someone else’s identity to obtain a vehicle loan is a specific category of identity theft that creates particularly complex recovery challenges for the victim, who must navigate the dispute of the fraudulent account while dealing with the credit damage and potential debt collection activity that accompanies a vehicle loan that the victim never authorized. The suspect was identified through the documentation associated with the fraudulent loan application.
Vehicle loan fraud using stolen identities is a growing problem in the United States, with the combination of online financing applications and the high dollar values involved in vehicle loans creating attractive opportunities for identity thieves. The desire to acquire a specific vehicle — in this case, a Hellcat that the suspect apparently wanted but couldn’t legitimately afford — drove the choice of fraud method, which required accessing someone else’s credit identity to obtain favorable loan terms. Identity theft victims who discover fraudulent vehicle loans in their name are advised to immediately contact credit bureaus, the fraudulent lender, and law enforcement to begin the documentation process that supports eventually removing the fraudulent account from their credit history.
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