Dealing With Identity Theft
Dealing with identity theft is not something that is not commonly found on an individual’s list of top ten things to do. Unfortunately, it is something that, when it does occur, must be dealt with swiftly, adeptly and without hesitation. When it comes to identity theft, perpetrators are counting on time to be on their side. By practicing safe, smart habits and staying alert, one can often keep the upper hand on the underhanded.
The following are recommendations for dealing with identity theft:
Upon discovering a potentially fraudulent situation, it is imperative to contact the three major credit bureaus immediately. Equifax, Experian and TransUnion all have fraud departments that are specially prepared to deal situations of identity theft. Common procedure will include a fraud alert placed on one’s credit report and a victim’s statement that must be filled out in full. From that point on, no new credit will be established under the victim’s name unless and until he or she has been contacted personally.
Immediately contact the creditor the fraudulent account has been set up with. Whether this is a bank account, credit card or other product, the vast majority of financial institutions have a branch that deals expressly with fraud. Upon contacting this department, get the name, phone and ID number of the service representative in addition to a case number if there is one. Document everything and obtain the address of the institution in order to send a verification of contact letter afterward.
Contact the police to file an official report. Not only is this further documentation, banks and credit card companies will need this as verification that an actual crime has taken place. One may find they need to file a report not only with their local law enforcement agency but with the city or district the crime took place in as well.
During the process of restoring one’s situation back to good standing, it is important to document every step that is taken. This can be done via a journal with specific dates, times and names. Be sure to ask for verifications and copies of reports, audits, transaction histories and any other essential records. A consistent file will make it much easier to move through the repair process.
If the theft occurred via an online transaction, remember to change all the passwords to important online accounts. Using the same password for every website is greatly discouraged. Regrettably, identity theft is commonly carried out by a close friend or relative. Be sure that all recorded passwords are kept in a very safe and undisclosed location.
Be patient. Unfortunately, an identity theft claim by one person is actually in the company of hundreds of thousands. It can take time for things to straighten out and will likely be frustrating many times before the whole process is over. A victim of identity theft can often feel helpless and even challenged by the necessary courses of action; however, it is important to not internalize the situation and take it personally.
Recent Additions:
