What Should I Do If I've Become a Victim of Identity Theft?
Identity thieves take advantage of everyday opportunities to discover your personal information and use it to commit fraud or other crimes. The good news is a victim of identity theft has more options today than ever before. According to the Federal Trade Commission (FTC), there are four important actions you can take to minimize the credit damage caused by circumstances beyond your control.
1. Contact any of the three major credit bureaus. Speak to someone in the fraud department and request that a fraud alert be placed on your credit report. As soon as one credit bureau confirms your fraud alert, the other two will automatically place one on your report as well. With a fraud alert in place, creditors must contact you before opening any new accounts in your name or changing any details of your existing accounts.
Then request a free copy of your credit report from each one. Review all of your credit information looking for unauthorized accounts, charges, or changes. Check the accuracy of your name, address, phone number, Social Security number (SSN), past employers, and any other personal information. Request any inaccuracies be corrected by notifying the bureaus by phone and follow up in writing by using certified mail, return receipt requested, so you will have documentation of all requests and responses by the bureaus. The addresses for each bureau are listed at the end of this article.
Continue to check your reports every few months, especially in the first year after you have lost your personal information.
2. Contact the creditors for the accounts that have been altered or opened without your permission. This includes bank accounts, credit card companies, lenders, utilities, phone companies, Internet service providers, and any other services that may be opened fraudulently. Contact the company's fraud department b phone and follow up with a letter.
The FTC offers the "ID Theft Affidavit" to dispute new accounts, available at www.ftc.gov. To dispute charges on existing accounts, request the company's fraud dispute forms.
If you suspect that a thief has been passing bad checks in your name, close the account immediately and notify your bank. Contact the major check verification services and ask that the retailers who use their databases stop accepting your checks for purchases. To find out if an identity thief has been writing checks in your name, call SCAN at 1-800-262-7771. The three major check verification services are:
? TeleCheck - Call 1-800-710-9898 or 927-0188.
? Certegy, Inc. - Call 1-800-437-5120.
? International Check Services - Call 1-800-631-9656.
3. The third step to take if you believe you are a victim of identity theft is to file a police report. Request a copy of the report for your records and to send to creditors for verification of the crime. Unfortunately, 61% of victims in 2004 did not notify the police of identity theft crimes.
4. Finally, file a complaint with the FTC to help law enforcement across the country track identity thieves and catch them. You will also be referred to other useful government agencies and consumer organizations to help you recover from identity theft. Contact the FTC in any of the following ways:
? Call the FTC's Identity Theft Hotline at 1-877-IDTHEFT (438-4338);
? Write Identity Theft Clearinghouse, Federal Trade Commission, 600 Pennsylvania Avenue, NW, Washington, DC 20580;
? Or visit www.consumer.gov/idtheft.
5. If you have a substantial credit damage claim, call CM Financial at 714 441-0900. If you have been turned down for a loan, lost a job, or possibly had to pay significantly more interest fees because damage to your credit score due to circumstances beyond your control, you may have a credit damage claim. Now with a newly developed process called Credit Damage Measurement, you can measure the financial loss you have sustained and as a result, receive fair compensation. Visit http://www.creditdamage.com for more information.
These five steps should resolve most of your credit problems after becoming a victim of identity theft. However, stay alert for new occurrences. Review your credit report every year and report any problems to creditors immediately both by phone and in writing. With diligence and a little patience, you can recover your good name.
As promised, here is the location and contact information for he three credit bureaus to report fraud:
? Equifax - Call 1-800-525-6285; write P.O. Box 740241, Atlanta, GA 30374-0241; or visit www.equifax.com for more information.
? Experian - Call 1-888-EXPERIAN (397-3742); write P.O. Box 9532, Allen, TX 75013; or visit www.experian.com for more information.
? TransUnion - Call 1-800-680-7289; write Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790; or visit www.tuc.com for more information.
Cathy Taylor is a marketing consultant with over 25 years experience. She specializes in internet marketing, strategy and plan development, as well as management of communications and public relations programs for small business sectors. She can be reached at Creative Communications: creative-com@cox.net or by visiting http://www.creditdamage.com or http://www.internet-marketing-small-business.com
MORE RESOURCES:
 Earthtimes (press release) | US Consumer Credit Increases $14.3 Billion in June (Update2) Bloomberg - Consumer credit rose by $14.3 billion, the most since November, to $2.59 trillion, the Federal Reserve said today in Washington. In May, credit rose by $8.1 ... Consumer credit rose $14.33 bln in June US consumer credit rose at double the pace forecast in June Consumers release their credit cards from musty wallets |
Credit Crunch Videos Sky News, UK - Equity, bond, and money markets were reluctant to accept that this was going to be a global banking problem, leading to a massive credit crisis. ... Credit crunch and banks: from the Rock to a hard place Many happy returns, credit crunch Credit crunch: Around the world |
 CTV.ca | US Government charges 11 in massive credit card fraud case Heise Online, Germany - The US government has charged 11 people with stealing tens of millions of credit and debit card details as part of an operation that targeted numerous ... Video: Feds Charge 11 in Massive Retail Hacking Case Biggest Ever Credit Card Scam In US US authorities charge 11 with global credit data theft |
 Washington Post | Here comes the credit crackdown Independent, UK - One year into the credit crisis, regulators are hard at work on new laws they hope will prevent history repeating itself. Leading investment banks fear a ... Industry group to address credit risk Panel Calls for New Risk Standards Banking Group Proposes Wide Range of Reforms |
The End of Credit Card Consumerism U.S. News & World Report, DC - For more than four decades, our shopaholic nation has shown an insatiable desire to spend until our credit cards melt. And throughout this era, ... |
 Reuters | Fannie Mae expects smaller credit losses in 2009 Reuters - N: Quote, Profile, Research, Stock Buzz) will continue to see high credit losses in 2009 but such losses should be lower than this year, the company chief ... Credit Suisse auction-rate debt suit may start frenzy Credit crunch cripples European insurers' profits Credit crunch cripples European insurers' profits |
Credit Suisse Sued Over Auction-Rate Securities (Update3) Bloomberg - 7 (Bloomberg) -- Credit Suisse Group, Switzerland's second-biggest bank, was sued by Swiss semiconductor company STMicroelectronics NV for allegedly placing ... STMicro sues Credit Suisse over auction-rate debt Credit Suisse sued by semiconductor firm Credit Suisse sued over 'auction' debt |
 Aljazeera.net | Credit expenses lead to $2.3 billion loss for Fannie MarketWatch - The company reported credit-related expenses of $5.3 billion in the quarter, which more than offset revenue of $4 billion. Fannie Mae also took a charge of ... Fannie Mae posts $2.3 billion loss as credit costs rise Fannie: Sun will come out tomorrow Fannie Mae Posts Fourth Straight Loss, Cuts Dividend (Update2) |
Settling the credit score CNNMoney.com - Having a good credit rating is more important now than ever, but determining exactly what yours is gets complicated. By Jessica Dickler, CNNMoney.com staff ... The FICO Score- Unregulated Discrimination? |
 iBerkshires.com | US June consumer credit rises by $14.3 bln, 6.7 pct annual growth rate Forbes, NY - Total consumer credit expanded $14.3 bln after an upwardly-revised $8.1 bln expansion in May. June's increase was well above the $6.4 bln of additional ... Consumer credit jumps at fastest rate in 7 months Consumer Credit Surges 6.7 Percent in June Credit-card Companies Making It Harder To Say 'charge It' |
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