What to Do When You’re a Victim of Identity Theft: Your First 6 Steps
Image Credit: Don Hankins
In today’s world, identity theft is a real, serious threat. According to Drayden Insurance Ltd., “Identity theft refers to all types of crime in which someone uses your credit card, driver’s license, social insurance number or other personal identification numbers to commit fraud or other criminal activity.”
Your identity could be stolen when you lose your wallet, when your home is burglarized, or after you provide personal information to an untrustworthy third party. Many banks will contact you about suspicious activity in your account, but you should make a habit of reviewing your account activity often to minimize the possibility of fraudulent activity going unnoticed.
If you are a victim of identity theft or fear you may become one, here are the first six steps you need to follow to protect yourself and your family.
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Start a Written Log
Identity recovery includes many little steps. It’s all too easy to lose track of timelines and documents that will be essential in presenting your case to your creditors. Keep track of all phone calls, letters, and documents you make in a notebook or online document. Be specific. For phone calls, record the time of day the call was made and the name of the person you spoke to.
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Flag Your Credit Reports
Call one of the three credit reporting bureaus to have your report flagged.
- Equifax 1‑800‑525‑6285
- Experian 1‑888‑397‑3742
- TransUnion 1‑800‑680‑7289
Whichever Bureau you call will notify the other two as well. The initial alert will be good for 90 days. If you need another kind of alert, such as an Active Duty Alert if you are currently in the military, discuss that with the Bureau.
This step protects you from problems establishing lines of credit later by marking the fraudulent charges and separating them from your usual spending patterns as quickly as possible.
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Order Your Credit Reports
When you flag your credit report, request copies of them as well. Order a report from each of the Bureaus. Go through your reports carefully when you receive them.
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Report any Suspicious Activity Immediately
When going through your credit reports, Nolo provides this list of suspicious activity to watch for:
- Any unauthorized changes to your personal information.
- Accounts you didn’t open.
- Inquiries you didn’t initiate.
- Defaults and delinquencies you didn’t cause.
If you see any of this activity, report it to the Credit Bureau that issued the report immediately.
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File a Report with the Police
Report the crime to your local police department first. Make the report as complete and correct as possible. Provide all of the evidence you have. Make sure that you get a copy of the report and add it to your written log. You may be required to provide your creditors with the police report later.
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File a Theft Victim’s Complaint and Affidavit
You will also need to fill out a Theft Victim’s Complaint and Affidavit, available here: http://www.ftc.gov/bcp/edu/microsites/idtheft/. This affidavit will enable your creditors to best investigate the theft.
No one plans to be the victim of identity theft, but by following these six steps you can minimize the damage and get your finances back under control as quickly as possible.
Category: Identity Theft
