Dealing Effectively With Identity Theft – Catch the Thieves in Their Tracks

Dealing Effectively With Identity Theft – Catch the Thieves in Their Tracks – 4 Simple Steps

Written on December 25, 2009 – 2:55 am | by admin

In case you have indications that your identity was used fraudulently, you need to take the following action immediately. These steps will assure your good credit rating is restored and you increase your credit score to its original value. The action has four specific steps which will be outlined next. For all of these steps, you need to follow up calls in writing by certified mail and make sure you also ask for a return receipt. You need to keep a file with copies of all correspondence and documentation.

1) Contact any one of the credit reporting agencies to review the latest credit report and look them over in detail. You will at the same time create a fraud alert on your credit report. This will prevent those that stole your identity from opening any other accounts on your name. You should know that the credit bureau you contacted is required by law to contact the other two and have them also place an alert on the credit report they have (there are usually different versions each one has because not all creditors report to all three). All three credit bureaus are required to send you a free copy of your credit report, and if you also desire they can only indicate the last 4 digits of you credit report on the reports.

2) Send an official complaint to the FTC (Federal Trade Commission).The FTC will maximize the impact of your complaint by informing law enforcement officials nation wide to help find and catch the thieves that stole your identity. They will also send the complaint and related information to other government agencies for additional action against businesses and companies that may have broke the law in this case. The complaint can be filed online on the FTC site or by contacting the directly over the phone or mail.

3) Go to your local Police and fill out a report.Try to get a copy of the report if you can, if not make sure you get the number of the report. Because different states have different rules and laws, you may have to check with the offices of your State Attorney General if and how the police needs to make a report in case of an identity theft. The police report is important for you when dealing with the creditors that will want get proof that the crime was committed. In some cases you can file the report under the category of “Miscellaneous Incidents”

4) Immediately close the accounts you suspect that were used for committing the identity theft crime. In order to do it effectively contact the security and fraud department of each institution. Make sure that after contacting them by phone, you follow up with a letter and attach the copies of the relevant documents. Doing it in writing using certified mail with returned receipt is most important. Make sure that when you open new account that are to replace the ones you close you select new PIN numbers (Personal Identification Numbers) and passwords. Do not use numbers that can be easily guessed and found like your birthday, last four digits of your social security number, consecutive numbers and alike.

These actions, if done as soon as you discover the crime will maximize the chance to catch the thieves on their tracks and increase your credit score and credit history to their original value while minimizing the financial damage you may occur.

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