Identity Theft: What You Should Do If You Are a Victim
An estimated 9 million Americans are victims of identity theft every year, according to the Federal Trade Commission (FTC).
And the ramifications of identity theft can be far reaching. Not only can you lose valuable time as you try to undo any damage that has been done, but you can be out hundreds to thousands of dollars in the process as well.
Many people are aware of the steps necessary to protect themselves from identity theft, such as limiting access to their social security number and shredding any documents with their personal information before throwing them away.
However, fewer consumers know what they would need to do if they find that they are a victim of identity theft. Should you become a victim of identity theft, you might feel powerless. Fortunately, there are steps you can take to put a stop to the damage being done and to begin cleaning up the aftermath.
Steps to Take
1. Place a fraud alert on your credit reports.
If you discover that you are a victim of identity theft, the first step you should take is to place a fraud alert on your credit reports. You will need to contact one of the three credit bureaus - TransUnion, Equifax or Experian - to request that an initial fraud alert be placed on your report; the bureau that you contact then will alert the other two of the fraud alert. Once on your credit report, the initial fraud alert will remain there for at least 90 days and will help prevent any future fraudulent use of your credit. Additionally, you will be able to obtain a free copy of your credit report, which you then will need to review carefully, looking for any activity that you do not recognize.
2. Close any accounts that you know or believe have been used or opened fraudulently.
After reviewing your credit report, the next step you need to take is to close any accounts that have been impacted. You will need to contact each company's security or fraud department and will likely need to send copies of supporting documentation showing evidence of fraudulent activity. You also will be able to obtain specific forms to dispute any charges made or accounts opened as a result of the identity theft. After resolving any identity theft disputes, request that the companies send you a letter stating that they have discharged any fraudulent charges or closed disputed accounts.
3. File a complaint with the FTC.
The next step you need to take in addressing the theft of your identity is to file a complaint with the FTC, which will assist law enforcement official fight identity theft. Additionally, the FTC can refer you to other government agencies and companies that provide further assistance. You also should obtain a copy of your FTC Theft Complaint, which will serve as further evidence that you have been a victim of identity theft if you need to defend yourself in the future. You can file your complaint with the FTC online using the agency's online complaint form.
4. File a report with your local police department.
Finally, you will need to file a report about your identity theft with your local police department. When you do file the report, request that the police include with it an ID Theft Complaint. The police might be reluctant in assisting you initially, but be persistent. Having a police report on hand will provide you with additional defensive ammunition. Additionally, the police report combined with the FTC Theft Complaint can be used together to permanently block fraudulent information from appearing on your credit report, ensure that any fraudulent debts do not reappear on your credit report, prevent a company from collecting debts resulting from your identity theft, and place an extended fraud alert on your credit report, which will remain there for seven years.
