Recovering From Identity Theft

Within the last twelve months, 9.3 million Americans were victims of identity theft. While this may seem like a lot, it’s actually a decrease from past years. But what is growing is the monetary loss associated with each theft. Fewer identities are being stolen due to more people knowing how to protect themselves. But if you are ever unlucky enough to be struck by identity theft, here are a few things you can do to gain back your good name.

If you are ever the victim of identity theft, first go to the police and file a report. The reason you need to do this is simple: to establish the time of discovery and what actions you have taken since the theft. Give the police copies of all relevant documents pertaining to the case. Be as detailed as possible when listing all your creditors, cards and anything else affected. And obtain a copy of the police report, to refer back to later.

The next step is to contact the credit reporting agencies; Experian, Equifax and Transunion. This will place a 90 day fraud alert on your identity. If anyone tries to open a line of credit, you will be contacted to verify your information. They will also issue you your credit reports. Once you get a copies of your credit reports, review each report and list all creditors affected. Contact those creditors directly and tell them of the theft. Close the fraudulent accounts and dispute any charges.

Lastly, file a complaint with the Federal Trade Commission. By sharing your identity theft complaint with the FTC, you will provide important information that can help law enforcement officials across the nation track down identity thieves and stop them. Read more…