| So, you've just realized that someone has stolen | | | | your letter in order to authorize the seven year |
| your identity and is racking up debt left and right, | | | | alert. Whenever you communicate with the credit |
| and you want to put a stop to it, but you don't | | | | companies, you should refer to the number given |
| know what to do. Well, keep reading, because in | | | | to your credit report and always use verified |
| this article you will learn exactly what to do when | | | | return receipt mail. Also, make sure you save all |
| you are a victim of identity theft. Once you have | | | | credit reports and related information for your |
| absorbed this information, act quickly, because the | | | | records. |
| sooner you start fighting for your identity, the | | | | As soon as you get your three credit reports, |
| sooner you will win. | | | | carefully examine each one. Report all fraudulent |
| You will probably receive a phone call from a | | | | and inaccurate information in writing to the credit |
| creditor stating "you" just either made a large | | | | bureaus, as well as to the credit issuers, following |
| purchase and they suspect fraud or you open | | | | the instructions that are provided with the credit |
| your credit card bill as you do every month and | | | | reports. As soon as you notify the credit bureaus |
| be amazed at some extra charges that are on | | | | about the fraudulent information, the bureau is |
| there. Call your credit card company immediately. | | | | required to strike that information from future |
| Rarely, will you be liable for charges over $50, and | | | | reports. The bureau will also notify the credit |
| many credit card companies wave the first $50 in | | | | grantor of the fraudulent account(s). If it isn't |
| the case of fraud. Check with your bank, you will | | | | included in the report, ask the credit bureaus for |
| usually be given a choice to close your account | | | | the contact information of the credit grantors. |
| and reopen a new one or some banks will put a | | | | Also, tell the credit bureaus in writing that you |
| "watch" on your account and you will have to log | | | | want them to remove all inquiries that have been |
| into your account and manually approve every | | | | created due to fraudulent access. You should also |
| charge and check before it is cleared. This usually | | | | ask the bureaus to contact anyone who has |
| goes on for a period of 30-60 days. The latter | | | | received your credit report in the last six months |
| isn't the best choice as it is labor intensive to do | | | | so they can be informed about the fraudulent and |
| and your account isn't protected from fraud as it | | | | inaccurate information. Numerous inquiries can |
| would be if you simply closed it out and reopened | | | | lower your credit score, so work diligently on |
| a new account. | | | | getting those inquiries removed from your |
| After you have done all the initial damage control. | | | | personal credit report. |
| The next thing to do when you realize that you | | | | Though these measures should set you back on |
| are a victim of identity theft is to notify the | | | | track and protect your credit from the fraudulent |
| credit bureaus. Report the situation to the three | | | | information, they may not completely stop it |
| major credit reporting companies- Equifax, | | | | from happening again. Because of this, be sure to |
| Experian, and TransUnion. You can do it online or | | | | monitor your credit reports, there are many |
| in writing, and you must tell these companies that | | | | online services that will help you monitor your |
| your identifying information has been stolen and is | | | | credit report. We recommend Experian Triple |
| being used by another person fraudulently in your | | | | Advantage. Along with getting your credit report |
| name. Ask them to flag your file with a fraud | | | | online with credit score, you also get 30 days free |
| alert, and ask that all creditors call you before | | | | credit monitoring service. With this service you |
| extending credit in your name. A consumer | | | | can start the dispute process online! Often times, |
| statement will be put on your file and it will | | | | once you have started the process you will be |
| alleviate your fears of bogus accounts being | | | | able to obtain a second free report from the |
| opened for about 3 months. | | | | credit bureaus, and in many states you will be |
| Due to provisions of the Fair Credit Reporting | | | | able to access your credit report more frequently. |
| Act, you can only place an initial fraud alert for 90 | | | | If you notice that the fraudulent information is still |
| days. The credit bureaus will then send you a | | | | happening, notify the proper bureaus instantly. If |
| notice displaying your rights as an identity theft | | | | the problem persists for very long, you may |
| victim. As soon you receive this, write to each of | | | | want to consider freezing your accounts for |
| the three credit bureaus to request two things; | | | | awhile if possible to prevent any more damage. |
| An extension of the fraud alert to seven years, | | | | Identity theft is an unfortunate event when it |
| and a free copy of your credit report. Remember | | | | occurs, but you can fight back and get your life |
| to include an identity theft report when you send | | | | back quickly! |