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ID Theft: 5 Step Action Plan

10/31/2008 - By Jack Burns

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Identity Theft Action Plan

5 Step ID Theft Action Plan

Identity Theft is the fastest growing crime in our country. If you are a identity theft victim, follow these five steps to recover from an identity theft and prevent more damage to your name.

Identity Theft- Five Step Action Plan

Identity theft is the fastest growing crime in our country and affects one out of every four households. If you are a victim of identity theft, please follow these five steps to protect yourself and prevent more damage to your name and credit:

 

Step 1.  Get a copy of your credit reports.  

 

Federal law requires the three major credit bureaus to provide you with one free credit report every year.  Go to www.annualcreditreport.com and order a copy of your credit report from each of the three major credit reporting bureaus. Print copies of your reports, review your reports for accuracy, and flag or highlight all fraudulent accounts. 

 

Review your reports online before you place a fraud alert on your personal information.  By accessing your credit reports online, you get to instantly see the accuracy of your credit information which will immediately allow you to find and flag all fraudulent accounts opened in your name. If you place a fraud alert on your credit information prior to requesting online access to your reports through www.annualcreditreport.com, for security reasons you may not be able to review your information online. 

 

If you have already obtained your free reports for the year, please consider purchasing an online combined credit report from one of the three major credit reporting bureaus.  If you are unable to view your credit reports online, or if you decide not to purchase your combined credit reports from one of the three major credit bureaus, you will mailed a copy of your credit reports when you complete Step 2.  

 

Step 2.  Place a fraud alert on your personal information. 

 

Call the three major credit reporting bureaus and place a fraud alert on your personal information. Once in place, a fraud alert is active for 90 days and requires creditors to contact you prior to opening new lines of credit in your name. 

 

To prevent the chance of a delay in your alert and to guarantee a fraud alert is placed on your personal information with all three credit reporting bureaus, call each credit reporting bureau individually or use the online option if available and request a fraud alert.  When you place a fraud alert on your information, the credit reporting bureaus will mail you a free copy of your credit report which can take up to fifteen days to arrive in the mail.

 

Experian- 1 888 397 3742

Fraud Alert Online Option: https://www.experian.com/consumer/cac/FCRegistration.do?alertType=INITIAL_ALERT

Website: www.experian.com

 

Equifax- 1-888-766-0008

Fraud Alert Online Option: https://www.alerts.equifax.com/AutoFraud_Online/jsp/fraudAlert.jsp

Website: www.experian.com

 

Transunion- 1-800-680-7289

Fraud Alert Not Available Online

Website: www.transunion.com

 

Step 3.  File a police report and prepare a statement.   

 

Contact your local police department and file an identity theft report.  If the police are reluctant to take your report, see if you can file an “Incident" report, or try another jurisdiction, like your state police or your area’s District Attorney’s office.  If fraudulent charges where made on pre-existing personal accounts, make a copy of all applicable billing statements, mark or highlight the fraudulent charges, and provide the police with copies of the statements.  Write down your police report number for your records and ask the officer taking your report how you can obtain a copy of your police report.

 

Type or hand write a statement detailing how you discovered your identity theft and the steps you have taken from the date you discovered the identity theft up to the date you reported the identity theft to the police. Be as specific as possible with your dates and times.   If you have suspect information, include as much information as possible about the suspect in your statement (name, date of birth, address, phone numbers, etc).  Complete your statement prior to contacting the police and provide a copy of your statement to initial reporting officer. 

 

Step 4. Contact creditors and begin the fraud process. 

 

After you have identified the fraudulent accounts on your credit report, call each creditor associated with fraudulent accounts and report the fraud.  Obtain the proper fraud forms from each creditor, complete the forms as soon as possible, make a copy of the creditor’s fraud forms for your records, and mail, fax, or email the forms back to the creditor as soon as you can. 

 

Each creditor has a unique fraud process with specific requirements.  Most creditors will want you to fill out a statement with the details surrounding the fraudulent charges and will require a copy of your police report. 

 

Cancel all fraudulent or compromised accounts.  If your particular case involves fraud from your legitimate account, and cancelling your existing accounts is not an option, then at the very least change the PIN numbers associated with each account.  If applicable, update your auto draft payments with your new account and/or pin information.

 

Keep a journal with the dates and times you contacted each creditor, write down the name of the representative who assisted you with your call.  Some creditors assign a reference number to each call.  Ask the customer service representative assisting you for the number and write it down in your journal.

 

Ask the creditor to send you copies of all fraudulent transactions listed on accounts opened in your name.  In accordance with the Fair and Accurate Transaction Act (FACTA), creditors have to give you the information if you make a request in writing.  Creditors may request additional identification information but must provide you the information within 30 days of a written request.  Once you receive the transaction records, make a copy for yourself and forward a copy to the police department/ investigator assisting you with your case.   

                     

Step 5. Place an extended fraud alert on your personal information and consider a credit freeze.     

 

Identity thieves have access to the same online information as you and many of the more experienced identity thieves know that an initial fraud alert only last 90 days. Experienced identity thieves will hold on to your information and attempt to use it again at a later time.  

 

In order to help prevent future incidents of identity theft, place an extended fraud alert on your personal information.  Each of the three credit reporting bureaus will require you to complete an extended fraud alert request form and mail them a copy of your police report and additional identification information, such as a copy of your driver’s license, a copy of a state id, and/or a copy of a utility bill.  For more specific information, visit their websites:

 

Experian Extended Fraud Alert

Equifax Extended Fraud Alert

TransUnion Extended Fraud Alert

 

Depending on your particular circumstances, consider placing a credit freeze on your personal credit information.  A credit freeze blocks all access to third party credit vendors such as credit card companies.  (Security Freeze: The Ultimate Protection).

 

Additional Resources:

 

www.consumer.gov/idtheft : The Federal Trade Commission identity theft resource website.  For answers to frequently asked questions and access to identity theft resources and information, please visit this site.

 

www.privacyrights.org: non-profit consumer advocacy and information website.  Good information on identity theft and other privacy concerns and issues. 

 

www.repairmyname.com: informative articles on identity theft and identity protection. 

 

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