What to do if Your Identity is Stolen

Monday, 15 October 2007

If you suddenly receive credit card bills with purchases you didn’t make, or find out that you owe money you don’t recall spending, you may be the victim of identity theft. What’s worse is that you probably won’t realize your identity has been stolen until after the damage has been done. So not what? Fixing the problems caused by identity theft is hard but not impossible. The first thing you should do if you think your identity has been stolen is contact all three credit reporting companies, Equifax, Trans Union, and Experian and place a fraud alert on your credit reports. This may prevent more accounts from being fraudulently opened.

Once you have reported the fraud review your credit reports from each company and Look for inquiries from companies you haven’t contacted; accounts you didn’t open; and debts on your accounts that you can’t explain. Close the accounts that have been fraudulently opened in your name or that have been tampered with. Follow up in writing all conversations with the security departments of these companies and keep records of all phone calls. If fraudulent charges have been made to your accounts, get forms to dispute the charges and make your credit card company aware that the purchases were made fraudulently.

You should also file reports with you local police as well as the FBI and Federal Trade Commission. By reporting that your identity has been stolen you can help officials find the criminal more quickly and help ensure that no more damage will happen. If any new charges or accounts show up, be sure to update you claim with all agencies. Keeping the proper authorities informed will help them resolve your claim quickly.

Quick action is crucial to resolve acts of identity theft. The faster you report theft and the closer you monitor activity across your accounts the better chances you have of stopping thieves from using your identity. Keep an eye on your credit reports form all three credit reporting companies, and watch your account statements. Be sure to notify the proper authorities and keep them updated on all changes made to your accounts without your permission.

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