Identity theft is when a criminal fraudulently uses your personal information to open their own accounts and have financial gain based on your information. Identity theft is a problem and is on the rise. In 2008 nearly 10 million people were victims of identity theft. If it happens to you it can be highly disturbing. You can feel your privacy is violated, you can have your credit affected adversely and you will have to spend a lot of time and energy clearing it up. The entire process is a nuisance and inconvenient and it can be difficult to know what to do first. If your identity is stolen, this is what you need to do:
- Notify the credit bureaus that your identity was stolen so they can note it on your file. Experian, TransUnion and Equifax are the bureaus that should be contacted.
- Ask the credit bureaus to issue a fraud alert on your account. This way, when an inquiry is placed on your account the creditor issuing the account is asked to contact you prior to opening a new account. This will prevent additional accounts being opened in your name.
- Contact all creditors you have discovered that have accounts opened in your name fraudulently. Let them know you did not authorize any account and that they should close it immediately.
- Contact the Federal Trade Commission and notify them of the fraud. Typically the federal government will not get involved with pursuing a smaller crime but they monitor identity theft to look for patterns and larger crime rings.
- Contact the police that your purse, wallet or card was stolen and get a police report. Make sure you include the police report with correspondence to credit bureaus and creditors.
- Contact the Office of the Inspector General and report the fraud.
- Go through all your online accounts and change passwords. Make sure you use passwords that are difficult to discover. Do not use short passwords and passwords that are easy to guess such as birthdays and anniversaries. Use a combination of letters and numbers, lowercase and uppercase.
- Inventory the contents of your purse or wallet if it was stolen and contact the appropriate agencies to get replacements. Credit cards should be cancelled and reissued. Driver’s license should be reissued. Social security card should be reissued.
- Telephone contact immediately is a good first start and a way to notify all agencies. However, you should also always follow up each contact with written correspondence so that it is documented and you have proof of notice if needed.
Identity theft is a difficult process to go through. It can be time consuming and inconvenient to deal with clearing fraudulent accounts so that your credit goes back to its original state. Make sure you keep records of all telephone conversations you have including who you spoke with, the date and time as well as any notes regarding what was said. Also keep copies of written correspondence. Keep all your notices in a convenient place so you can refer to it if needed.
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