Identity theft isn't just
a case of account
fraud where someone
steals your credit
card information.
When your identity
is stolen,
the criminal can use your
Social Security number
to get a job, rent an apartment
or even take out a loan.
And do it all in your name.
In some cases, criminals
are even filing tax returns
in victim's names and taking
their tax refunds.
A victim of identity
theft could go months
before they even notice
that something strange is going on.
The tip off could be
a past due notice in the mail
or a phone call from
a collection agency
about debt that isn't theirs.
By that point a lot of damage
could have been done.
If you notice something wrong,
the most important thing
is to act quickly.
Identity theft is becoming pretty common,
but it's still a hard crime
for authorities to track.
So most victims have
to be very proactive
in getting their identity
back under their control.
Think about it this way,
you're going to be
your own best detective on the case.
So let's go through the steps
you'll need to take
to get your finances and
credit back under your control.
The first step to take as soon
as you suspect identity theft
is to file what's called
an initial fraud alert
with a credit reporting agency.
Businesses have to
check your credit report
to open new lines of credit.
So if they see there's a
fraud alert on your report,
they may try to contact
you to verify your identity
before doing so, which
would make it harder
for a criminal to open a
new account in your name.
To file an alert, you can call
one of the three major
credit reporting agencies,
Experian, Equifax or TransUnion,
and tell a representative
that you are an identity theft victim
and want to place an initial
fraud alert on your file.
It actually doesn't
matter which one you call
because whichever one you choose
is required to notify the other two.
It's free and the alert will stay
on your account for 90 days.
For even more protection you might also
want to put a credit freeze on file
with all three credit reporting agencies.
A credit freeze means that no creditors
like a bank or a business
that offers store credit cards
can look at your report
without your permission.
This can make it harder for a criminal
to open a new account in your name.
You can lift a credit freeze at any time
or lift it temporarily
so someone you authorize
In most states, setting up a credit freeze
is often free for
victims of identity theft
or there may be a small fee, $10 or so.
The length of a freeze
also varies by state.
You can visit your
state's attorney general's
office website for more details.
To request a credit freeze
you'll need to contact
each of the three credit
reporting agencies.
After you've set up an
initial fraud report
and put a credit freeze on file as well,
the next step is to start going
through your credit reports.
Your initial fraud report allows you
to get free access to your credit reports
from the three credit reporting agencies.
Contact each one for instructions
on how to get a copy of your report.
You can also do this when you
set up your credit freeze.
Look over each report carefully
and note any detail that isn't yours.
Then before you dig into
the problems you may find,
you'll want to file an
identity theft report
to let Federal and Local
authorities know about the crime.
The report will help
you get fraudulent info
removed from your credit report
and can stop businesses
and collections agencies
from coming after you for
debts that aren't yours.
Filing an identity theft
report is a two-part process.
First you can file a report
with the Federal Trade Commission.
That's the government agency
that looks out for consumers
and helps protect them from fraud.
You can do this online at
FTCComplaintAssistant.gov.
Once you complete the report online,
you'll get an FTC identity theft affidavit
which you can print for your records.
Then you'll need to file a police report.
You can do this in person at
your local police precinct
or you may be able to do this online.
It's a good idea to call ahead
and see what kind of documents
you'll need to bring with you
to the station to prove your identity
Once you make your report,
ask for a copy and record the police report number.
Your FTC Identity theft
affidavit and your police report
together make a complete identity theft report.
Now that you are armed with
your identity theft report,
you're ready to take on each fraudulent item
you found in your credit report.
For each fraud, you'll need to file a dispute
with the fraud department of
each credit reporting agency
and contact any lenders or
collection agencies involved.
This part of the process can
mean a lot of phone calls,
and in some cases it
can take a lot of time.
It's a good idea to keep a written record
of each call you make,
noting the date and time
as well as the name of
each person you speak with
and any instructions they give you
so you can take the next steps.
The FTC also has many helpful resources
for this part of the process,
like check lists and instructions
for how to dispute
different claims at FTC.gov.
At this point you can also
place an extended fraud alert
on file with each of the
credit reporting agencies.
An extended fraud alert is
free and lasts for seven years.
It will allow you to get two free copies
of your credit report each year
so you can keep on top of
any new suspicious activity.
There are more credit reporting agencies
There are also many smaller
local or regional ones
that could have reports of
other fraudulent activity
So it's a good idea to
check your local listings
for other agencies and file
fraud alerts with them as well.
Getting your life and
your credit score back
after identity theft can be a challenge.
Guarding your personal
information carefully,
especially your social security number,
can help you avoid identity
theft in the future.