Current studies show that ID Theft is at epidemic
proportions. The Federal Trade Commission surveys estimated
that there are close to 9.9 million victims and growing by
2 to 3 million a year.
For individuals that are not victims of identity theft, the
best thing you can do is check your credit report
regularly, focusing on two categories.
* Inquiries from unfamiliar companies. Here we are talking
about someone applying for something in your name in a
state that you don't live in. Remember inquiries are the
result of you applying for credit.
* Unfamiliar Accounts (tradelines). Are there debts or new
credit listed on your credit report that you are not
familiar with?
There are 3 major Bureaus that provide services to monitor
your credit report. These services give e-mails to you
promptly if there are any changes to your report.
What to Do if ID Theft happens to you.
You want to keep a detailed log of events as you start the
dispute process. You do this in case you run into problems
with a creditor. The first step obviously is contact the 3
credit bureaus, local police, creditors, etc...... You keep
detailed conversations logs with any of these entities you
communicate with. Also keeps receipts, bills, or out of
pocket expenses you incur during the process of disputing.
I would also make note of the emotional stress and how it
is affecting your work performance and personal
relationships. In addition your expenses and time could be
tax-deductible in certain circumstance.
Contact Law enforcement
Here is the properties procedure for contacting the
authorities so you can file a formal report. You should
include all fraudulent accounts in the report. As the
Credit Bureaus say they are able to remove disputes,
remember to keep a copy of the report number and contact
info.
Who to contact:
* FTC.gov/bcp/coline/pubs/credit/affidavit.pdf
* Local Police Department
* FTC 800-438-4338 or 800—ID THEFT
Credit Bureaus - Steps to take with the CRAs
* Notify one of the credit bureaus fraud units that you are
victim of Identity Theft. This Bureau will be responsible
for telling the other 2 Bureaus. (Equifax: 800-525-6285;
Experian: 888-397-3742; Trans Union: 800-680-7289)
* Tell Bureaus to flag you credit report with fraud alert
* Get a copy of your credit report with scores
* Once you have read your report, send a dispute letter,
accompanied with police report along with the FTC fraud
affidavit specifying which accounts are fraudulent.
* Subscribe to the Bureaus monitoring services of your
credit report
* Consider signing up for Trusted ID services which will
block your credit report so only you can use it.
* Ask the Bureaus to contact the creditors that fraudulent
activities have taken place.
Debt Collectors- You will be getting calls from debt
collectors more than likely. If they call you:
* Get the debt collectors companies name, address and there
phone number. Let him or her know you are noting the time
and date of the conversation in your log activity book
* Inform the collection agency you are a victim of Identity
Theft
* Provide the FTC uniform fraud affidavit
* Ask for number and name of credit issuer.
* Send the debt collector a letter, stating that you do not
owe this debt and that the account has been close.
* Request in writing that the account is being flagged as
fraudulent, and is being closed. You also should request in
writing that the fraudulent account is being removed from
your credit report.
New accounts opened in your name: the Identity Thief has
opened new accounts in your good name: what to do. The
credit report you pulled should list all creditors that
have accounts in your name with contact numbers.
* Notify each creditor of the identity theft that has taken
place to you. You will be asked to send a fraud affidavit.
(Be sure to put all of this in your log)
* Ask the creditors to send you any application or
fraudulent activity that has happened in your good name.
* Add passwords to all accounts
* If the thief has got a hold of your checking account,
credit cards, get replacements with new numbers. Call and
request these accounts to be closed as well.
* Fill out FTC uniform fraud affidavit.
Your Checking account- If the thief has written checks in
your name here is what you do.
* Call your local police, and file a report
* Call your bank and close the account immediately
* Remember to keep good logs
* Typically your bank will refund you your money, and ask
for a copy of police report filed.
This stuff is serious business; I hope this will help you
resolve issues involving identity theft to you.
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About the Author: Mike Clover is the owner of
http://www.my720fico.com . My720fico.com is one of the most
unique on-line resources for free credit score reports,
Internet identity theft software, secure credit cards, and
a BlOG with a wealth of personal credit information. The
information within this website is written by professionals
that know about credit, and what determines ones credit
worthiness.
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