Identity theft can happen to anyone. It can be tax or medical-related and causes serious damage to your financial security, credit history and personal reputation. Plus, a stolen identity can take months to straighten out—time and hassle you can’t afford. To keep yourself safe from this growing threat, the Federal Trade Commission (FTC) outlines these steps for taking back your identity.

Put a fraud alert on your credit report.

An initial fraud alert makes credit reporting companies aware of your identity theft and impedes the criminal’s ability to use your name to open more accounts. Of the three national reporting companies that keep your credit history records (Equifax, Experian and TransUnion), you need to notify one of them. Which company you choose will alert the other two of your situation.

The free fraud alert placed on your credit report will require businesses to verify your identity before a credit card is used in your name. This initial alert lasts only 90 days but can be renewed upon request.

Order your free credit reports.

After filing your initial fraud alert, you are entitled to receive a free credit report from each credit reporting company. When ordering your report, be sure to request that the company only show the last four digits of your social security number in order to reduce the risk of further identity theft. On your credit reports, look for any unauthorized charges on any of your accounts. Then, contact the fraud departments of related businesses to dispute the charges.

Report your identity theft.

To report your identity theft, file a complaint with the FTC and print your Identity Theft Affidavit which you can use to file a police report. These two reports (police and FTC) combine to make your “Identity Theft Report,” which provides you with certain rights when trying to recover losses. You can use the report to remove fraudulent information from your credit report, prevent a company from selling your debt to a collection agency, and acquire information on the accounts opened by the identity thief.

Don’t forget to immediately report any lost or stolen credit, debit or ATM cards so you’re not held liable for any unauthorized charges. Also, keep in mind that you will be making numerous phone calls and mailing various important documents during identity theft resolution. Stay organized by creating a system to keep track of any papers, calls or deadlines.

If you or a loved one is the victim of identity theft, contact an attorney by calling the Law Offices of Michael B. Brehne, P.A..

 

Image courtesy of Senior Care Corner