Every year, millions of people across the world are negatively affected by identity theft. If someone steals your identity, it could cost you thousands of dollars to try to fix the problem. If you are the victim of identity theft, there are a number of steps you need to take.
Notify the Credit Bureau
If you think that you are the victim of identity theft, calling a credit bureau first can help. Put a fraud alert on your account immediately. There are two types of fraud alerts to choose from. An initial alert lasts for only a short time. An extended alert lasts for seven years. Both alerts make it difficult for identity thieves to access your credit again.
File Necessary Reports
After you contact the credit bureaus, you can file a report with law enforcement agencies. Contact your local police department and notify them of the situation. You can also choose to file a report with the Attorney General or the Federal Trade Commission. The law enforcement agency that you file the report with will begin working on your case and will try to help you get in contact with the appropriate agencies to remedy the problem.
Notify Financial Institutions
If one of your accounts has been compromised by the identity thief, you should take the necessary steps to contact your financial institution immediately. Talk to your financial institution and notify them in writing that your account has been compromised. They may recommend closing the account, or they could simply put a freeze on it. If you notify the financial institution soon enough, you may not be liable for any of the charges that were made on your account.
Check Your Mailing Address
Once you become the victim of identity theft, you may also want to check the mailing addresses for all of your accounts. Many times, identity thieves will redirect the mail that you receive on a certain account. They can simply fill out a change of address form and submit it to the company. The company will then send your mail directly to the identity thief. By checking on the address attached to your accounts, you can fix this problem easily.
Additional Protections
Even though identity theft can be very frustrating, you can get the situation fixed. Investing in a credit monitoring service may be a good idea as it will protect you from future problems in this area. Checking your credit report frequently can also tip you off when identity theft occurs. Monitoring your accounts frequently or allowing a credit monitoring service to do it for you can prevent anyone else from accessing your credit again and taking advantage of your identity.
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