How to Properly Handle Identity Theft

Addressing identity theft the moment you realize a problem is key to removing fraudulent activity from your credit report. Identity theft involves another person stealing information such as your Social Security number and acquiring new credit accounts in your name. In the aftermath, identity theft can lower your credit score and stop credit and loan approvals.

Instructions

1

Write the three reporting agencies. Experian, TransUnion and Equifax are the three major credit bureaus (see Resources). Contact each bureau by telephone or in writing and make them aware of the situation. Request that each bureau place a fraud alert on your personal credit file. With this alert, any creditor or loan company must contact you before opening an account in your name.

2

Review your credit card statements to check for fraudulent charges. If your find one, contact your creditors to dispute the charge and ask them to cancel your present card and issue a new one.

3

File on online complaint with the Federal Trade Commission. The FTC keeps records of identity theft cases. Go to the agency's website and complete an online complaint (see Resources).

4

Monitor your reports to prevent future problems. Sign up for credit report monitoring to avert other occurrences of identity theft. With monitoring, these services send immediate emails if anyone (including yourself) opens an account in your name or if changes occur on your credit report.