Victims of identity theft reported missing more than $15 billion in 2014. This is more than the loss caused by burglary, motor vehicle theft and other property theft. While identity theft can make you feel vulnerable, it's not surprising that you can take some action to control it.
Step 1: Order your credit report from
When you realize that you are a victim, you need to quickly understand any errors displayed in the report. Visit annualcreditreport.com for a free copy of all three national credit reporting companies - Experian, Equifax and Transunion.
If you find any errors or fraudulent charges, please report them to the credit reporting company immediately. They will investigate these items and then forward the information to the business that reported the project. The company has 30 days to respond.
If the company providing the loan finds an error, it must notify the credit reporting company so that your documents are corrected. If your credit changes due to business reasons, the reporting company will send you a letter with results.
Step 2: Issue a fraud alert from
It is more difficult for identity thieves to open more accounts in your name. Call any of the three national credit reporting companies and ask them to file a preliminary fraud alert in your credit report. They must contact their other two companies about their reminders.
Equifax
1-800-525-6285
Experian
1-800-397-3742
Ring
1-800-680-7289
Although your report will alert you, as long as the company completes the credit inquiry, they will need to verify your identity before issuing a credit card in your name. This may require contacting you, so be sure to update your credit report with your current contact information. This reminder will remain in your report for 90 days and will allow you to order additional free copies of the report from each of the three credit reporting companies.
Step 3: Consider freezing your credit card. from
Credit freezes [also known as security freezes] give you the most control over who can access your credit. It can prevent thieves from opening new accounts on your behalf because lenders and other creditors will not be able to get your credit report.
With a credit freeze, even if you have to take special measures to apply for credit. You can still open a new account, apply for a job, rent a house, buy insurance, refinance your mortgage, or do anything else that requires your credit report. However, companies need to verify your identity so that they may need to contact you, and you must call the reporting company to unfreeze so that the business unit can review your report. Again, make sure they get the latest information through your credit report.
Some things to understand: Due to strict laws, you must contact each reporting company separately for a credit freeze. Also, freezing your credit card won't affect your credit score. Finally, the cost depends on where you live. If you are 65 years of age or older, or a victim of identity theft and submit a valid investigation or incident report, the law enforcement agency or the Motor Vehicles Department [DMV] will be excused from the fee.
Step 4: Submit an identity theft report. from
The identity theft report is a good weapon. You can use it to remove fraudulent information from your credit report; prevent companies from collecting debts arising from identity theft - or sell the debt to another company for collection. You can also use it to post an extended fraud alert on your credit report and get information about accounts opened or abused by identity thieves.
Submitting an identity theft report is simple: Submit a complaint about theft to the FTC . After you have finished writing all the details, print a copy of the report. It will be printed as an affidavit of identity.
Submit a police report about your identity theft and get a copy of the police report or report number. [Be sure to bring your FTC identity theft affidavit and attach it to the police report].
Some credit reporting companies may require more information or documentation than identity theft reports. It depends on the credit reporting company's policies and the business that sends your information to the reporting company.
Step 5: Report fraudulent activity on your existing account. from
For any account that shows fraudulent charges, please contact the company immediately. Explain that you are the victim of identity theft. Close your account and follow its reporting process. You can ask if they accept your identity theft report. In addition, write to each company's fraud department. According to the law, they must review your letter, investigate your complaint, and tell you the results of their investigation. If the information is incorrect, the company must inform the credit reporting company. Ensure that the business unit is required to confirm that it has removed fraudulent information.
In any open credit card or bank account, take steps to protect yourself. Change your password and place the codeword on the account that allows them. Some accounts provide codewords as an additional level of security. You can usually choose a code word. You can consider using what you know and not public knowledge. Finally, keep monitoring your account and keep an eye on any suspicious activity.
Orignal From: Five tips for avoiding identity theft
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