How to Combat Identity Theft

Identity theft is when an unauthorized person uses your name, your Social Security number (SSN) or your credit-card number to open new credit-card and charge-card card accounts. Because an identify thief uses your identity without your permission, you are not held responsible for any charges that occur as a result of your information being used in an fraudulent manner. The Federal Trade Commission (FTC) has outlined steps you can take to report the crime and repair your credit report if it has been adversely affected by the incident.

Things You'll Need

• Credit report
• Identity-theft report
• Fraud-alert request

Instructions

1. Stop an identity thief from opening new accounts in your name by contacting the three credit bureaus and placing a fraud alert on your credit report. The alert will remain on your report for a minimum of 90 days; however, there are extended alerts that can last up to seven years.

2. Review your credit report to see whether an account has been opened without your authorization. If it has, declare it as fraudulent and request it be removed from your credit report. A detailed declaration is necessary to document the incident.

3. Confirm in a written statement that you did not open the credit-card account(s) nor buy the items for which you have been billed. Contact each of the three nationwide consumer-reporting companies to submit your statement. This is the initial step in the process; however, a federal identity-theft report is necessary to complete the process.

4. File an identity-theft report with a local, state or federal law-enforcement agency, such as a local police department, the FTC or the U.S. Postal Inspection Service. Provide a detailed account of your identity theft, including the date when a fraud alert was placed on your account. Submit any documentation that verifies your claim.

5. Provide the three nationwide consumer-reporting companies with a copy of the identity-theft report.

6. Close any compromised bank accounts, checking accounts and credit cards that have been used by the identity thief.

7. File a complaint with the FTC. Contact the FTC by phone at [phone]. Provide documentation to confirm you were the victim of identity theft. Provide the name of the state where the incident occurred.

8. Prevent new identity theft. Restrict all accounts to password-only access and change your pin number and password if you suspect a third party has gained access to your account information.

9. Stay alert and in control of your accounts. Pay attention to instances when a less favorable credit term is given. When you open a new account, ask for a detailed explanation of what information contributed to the creditor's decision.

10. Open all mail and bills that come from collectors or creditors you do not know.

11. Shred old bills and credit-card statements to prevent thieves from gaining access to your credit-card information after it has been discarded in the trash.

Tips & Warnings

• Contact TransUnion by phone at [phone]. Contact Equifax by phone at [phone]. Contact Experian by phone at [phone].

References

• Federal Trade Commission

Resources

• TransUnion
• Equifax
• Experian