There are numerous articles concerning identity theft that offer concrete advice. They try to encapsulate what you need to do if you happen to be a victim of identity theft. Even though you may not be able to control what has already happened, it is advisable to take steps that can prevent and minimize the damage.
"Some debts are fun when you are acquiring them,
but none are fun when you set about retiring them."
- Ogden Nash, American Writer |
Identity thieves work fast so you also must respond quickly if you become a victim of identity theft. Moving quickly to close your accounts the moment you realize your ID has been compromised is imperative to avoid major losses due to ID theft. This is a proven fact that is often mentioned in articles concerning identity theft.
Identity theft awareness is essential. When you realize your ID has been stolen you must immediately inform the credit reporting agencies, banks, financial institutions and other creditors of the matter. It's okay to inform just one credit bureau. It is legally bound to inform the other two, but ask the representative about this just to be on the safe side. The phone numbers for the three major credit agencies are: Experian - 1-888-397-3742
Equifax - 1-800-525-6285
TransUnion - 1-800-680-7289 Make sure you speak to someone in charge of fraud when you call the credit bureau. As you give the information regarding the ID theft, request that a “fraud alert” be placed on your credit file. This will prevent the thief from opening any new accounts or obtaining bogus credit cards in your name. Confirm how long the alert will remain on your file. An initial fraud alert remains on the file for only ninety days so you will need to monitor this and call in another alert if you still have concerns about your case. Make a written record of: a) The date and time of contacting the credit bureau and the name of the person you spoke to. b) The details of your conversation. In many articles concerning identity theft, readers are also advised that if you find it difficult to write down conversation details, do not hesitate to ask the person to slow down as you write. It is also important to ask for the name, email address and direct contact number of the supervisor of the person with whom you speak. Next, contact your other lenders and creditors and let them know that you have been a victim of identity theft. Write down the name of the person, phone number, date and time of every conversation you have. Keep a complete record of your contact history. If you lose your wallet or purse that had papers with private information or account numbers, call your bank immediately and let them know the details of the bank information, ATM cards, checks and relevant account numbers that it contained. Cancel any savings and checking accounts that have been compromised and open new accounts. Get new ATM cards, change your passwords and pin numbers and issue ‘stop payment’ instructions on checks that are unused and lost. If you lose a credit card, contact the security department of your credit card company. Close any affected credit cards and have them marked as 'closed at customer's request.' You can request new credit cards that have new account numbers and changed passwords. Never forget to register your complaint with the police. Regardless of what you might read in other articles concerning identity theft, you must insist on an authenticated copy of the police report and keep it with you. Having a police report in hand may be necessary if you are asked to provide evidence of the theft, such as claims on your insurance or to report fraud to your bank.
Also, be sure to check out some of our free tools related to Identity Theft:
"The man who never has money enough to pay his debts
has too much of something else.”
- James Lendall Basford |
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Debt is NOT your friend. It's not a wonderful "tool" for building wealth. That's a myth.
