Victim of Identity Theft?

Identity theft is the crime of obtaining another person’s personal or financial information with the intention of assuming that person’s identity to make purchases or borrow money. As a victim of identity theft, you may feel overwhelmed knowing someone has access to your private information. However, remember that recovering from identity theft is possible. By breaking the process down into steps and using the right resources, you’ll protect yourself and move towards life after identity theft.

Use the checklist below to help you reclaim your identity.

Step 1: Call companies where fraud occurred.

• Inform them of the fraud
• Close account (if necessary)
• Change logins, passwords and PINS

Step 2: Obtain credit report and set fraud alerts.

• Visit www.annualcreditreport.com to obtain a credit report from 3 major credit reporting bureaus
• Review each report carefully
• Set fraud alerts with each credit reporting bureau

Step 3: Report ID theft to Federal Trade Commission (FTC).

• Visit www.identitytheft.gov or call (877) 438-4338 to complete an Identity Theft Report
• Follow the established recovery plan

Step 4: File a police report.

• Contact local law enforcement to inform of them of identity theft
• Provide a copy of your FTC Identity Theft Report

Step 5: Correct credit report information.

• Submit disputes to each credit reporting bureau that contains fraudulent account information
  • Can be completed online at the credit bureau’s website or by mailing a dispute letter

Step 6: Consider an extended fraud alert or freeze.

• Extended fraud alerts last for seven years
• Credit freezes last until you remove them

Step 7: Contact Social Security Administration.

• Create a My Social Security account at www.ssa.gov/myaccount/
• Review the earnings posted to your record
• Contact Social Security if you see inconsistencies

Step 8: Contact the Internal Revenue Service (IRS) (if applicable).

• Respond immediately to any IRS notice by calling the number provided
  • If you have doubts about the legitimacy of a notice you receive from the IRS, you can search for the letter of notice using the agency’s search tool to verify its authenticity. If you think the notice may be suspicious, contact the IRS directly at 1-800-829-1040

Remember, don’t wait to respond if you have been the victim of identity theft. Not only will you limit your liability for the fraudulent transactions, but you may also be able to stop the fraud from making a mess of your life. Feeling uncertain about what to do first is common, but by springing into action and following these eight steps, you’ll be on the road to rebuilding your finances.

Resources:

• Equifax
• Experian
• TransUnion
• Annual Credit Report
• Federal Trade Commission:
  • (877) 382-4357
  • Identity theft hotline: (877) 438-4338
• Social Security Administration:
  • (800) 772-1213
  • Identity theft hotline: (877) 438-4338

Source: Balance Financial Fitness