What is identity theft

Identity theft occurs when someone gets your personally identifying information, like your name, Social Security number, or credit card number, without your permission and pretends to be you in order to get loans, credit cards, big-ticket items, etc or commit other crimes.

 

How do you know if you are a victim of Identity theft.

Theft of identity takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. Unfortunately, many people learn that their identity has been stolen after some damage has been done. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn't make or until you’re contacted by a debt collector.

 

Here are a few signs your identity may have been stolen.

• You receive a credit card in the mail that you've never applied for.
• You apply for a mortgage or car loan and are turned down because of problems with your credit history when you know you have a good credit score and have always paid your bills on time.
• A bill collector calls to demand payment on a 6 month overdue account for a credit card you have never had.
• You get something in the mail about an apartment you never rented, a house you never bought, or a job you never held.

 

What you do if your identity is stolen?

If the term "identity theft" sounds scary, for the people that get victimized, it's a nightmare. The best way to find out if your identity has been compromised is to monitor your accounts and bank statements each month, and check your credit report on a regular basis. If you check your credit report regularly, you may be able to limit the damage caused by identity theft.

 

However, if your identity is compromised, here are a few identity theft reporting steps you must take immediately to restore your good name

 

 

File a police report

Report the crime immediately to your local police department. Provide the police with as much documented evidence as possible. Make sure the police report lists all the fraudulent accounts in dispute. A police report that provides specific details of the identity theft is considered an Identity Theft Report.

An Identity Theft Report entitles you to certain legal rights when it is provided to the three Credit Bureaus or to companies where the thief misused your information. An Identity Theft Report is also necessary to

• Permanently block fraudulent information that results from identity theft, such as accounts or addresses, from appearing on your credit report.
• The report will also make sure these debts do not reappear on your credit reports.
• The report can prevent a company from continuing to collect debts that result from identity theft, or selling them to others for collection.
• Finally, an Identity Theft Report is also needed to place an extended fraud alert on your credit report.

Save a copy of the Identity Theft Report, keep the name and phone number of the investigating officer. Your creditors will likely require you to show the report in order to verify the crime.

 

Check your credit reports and dispute any unauthorized transactions

Awareness is an effective weapon against many forms identity theft. Despite the law that require creditors to pay attention to fraud alerts, surprisingly most of them don't.

Whether or not you are a victim of identity theft, take advantage of your free annual credit reports and Order your free credit report.

Phone: (877) 322-8228
Web: www.annualcreditreport.com

 

Notify credit bureaus

Immediately report identity theft to the fraud department of the three major credit bureaus. Here is their fraud alert contact information. When you notify the credit bureaus, they will immediately place a fraud alert on your record. Placing a fraud alert means that your file will be flagged. This in turn means creditors are required to call you before extending credit. The credit bureaus will mail you a notice of your rights as an identity theft victim.

 

Under the new provisions of the Fair Credit Reporting Act, you can place a fraud alert for only 90 days. However you can request a fraud alert extension to seven years but this will require a copy of your Identity Theft Report filed with your local police department. Also be away that you can cancel the fraud alert anytime.

 

Notify creditors

If you are a victim of Identity theft and your credit reports shows that an imposter has opened fraudulent accounts in your name, contact those creditors immediately by telephone and in writing. Recent FCRA amendments allows you to prevent businesses from reporting fraudulent accounts to the credit bureaus.

 

The creditors will ask you to fill out fraud affidavits. Here is a sample of the FTC uniform affidavit form that most creditors accept.

Dealing With Identity Theft

Dealing With Identity Theft

 

Other steps you can take

Order your earnings report from the Social Security Administration if you suspect an identity thief has used your SSN for employment, order your Personal Earnings and Benefits Estimate Statement by calling (800) 772-1213 or visit. www.ssa.gov/online/ssa-7004.html

 

If you are in the military, place an active duty alert on your credit report when you are away from your usual duty station. You can place an active duty alert on your three credit reports as an extra protection against identity theft. The alert remains on your credit reports for 12 months. Contact the fraud departments for the three credit bureaus for more information.

 

 

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