If you think you have been the victim of identity theft,
take action at once:
Contact the three major
credit bureaus and ask to speak to the fraud department. Explain that you have been the victim of
identity theft (or believe you may have been) and ask that an “alert” be placed
on your file. This will let anyone looking at your report know that you may
have been the victim of fraud. It will
also mean that you will be alerted any time a lender asks to look at your file
- each time a lender does look at your file, it may be an indication that the
identity thieves are trying to open a new account in your name.
When the lender sees that the
person applying is not you, they will deny the thieves credit and in most cases
the criminals will stop trying to access your identity. Most alerts on your file last 90 or 180 days
but you can extend this period to several years by asking the credit agencies
for an extension of the “fraud alert” in writing.
In some states, you can even
ask for a freeze to be placed on your credit score and credit report which will
prevent anyone but yourself and those creditors you already have from accessing
your file. Any lenders the thieves
contact to set up a new account will be refused access and the thieves will not
be able to get any more money in your name.
You are entitled to a free
copy of your credit report if you have been the victim of identity theft. Be sure to take advantage of this offer so
that you can check exactly how your credit has been affected. Dispute those items that are not yours.
Call the Federal Trade
Commission (FTC) at 1-877-438-4338.
This is the special hotline that the FTC has set up to help customers
deal with fraud and identity theft. You
will be able to get up-to-date information about your rights and advice as to
what you can do to improve your credit score and keep in safe in the future.
Contact the police. Identity theft is a crime and you need to
file a police report (be sure to keep a copy of this report) so that you can
help the police potentially catch the criminals responsible. Contacting the police will also give you a
paper trail and proof that a crime has been committed. Keeping a paper trail of
the crime and your response will make it easier for you to repair your credit
if it has been damaged by identity thieves.
Contact your creditors or
any creditors that the identity thieves have opened an account with. Ask to speak to the security department and
explain your predicament. You may need
to have your accounts closed or at least your passwords changed to protect
yourself.
You may also need to fill out
a fraud affidavit to state that a crime has been committed - be sure to keep a
copy of this form for your records. The security team of the creditors should
be able to advise you as to what you can do.
Be sure to note down who you contacted and when so that you have records
of the steps you have taken to deal with the crime.
If you have been the victim
of identity theft and you are deeply in debt to creditors you never contacted,
you will not be held responsible for the charges - but you will have to prove
that you have been the victim of identity theft, which is tricky since the
thieves are using your name and claiming to be you.
It is a frustrating
experience because lenders will want to be paid and you will want to avoid
paying for charges you did not run up.
Being persistent and keeping good proof that you have been the victim of
a crime will help to clear your credit score.
In the meantime, however, you will be faced with a much lower credit
rating than you deserve and you may have to put off larger purchases that may
require a loan.