Identity theft can be a very overwhelming experience. The sense of invasion and fear it can cause may seem permanent, but there are some steps you can take to minimize the damage.
- Report the crime to the Federal Trade Commission online at http://www.ftc.gov/bcp/edu/microsites/idtheft/.
- Contact the three major credit bureaus, Experian, Trans Union and Equifax, and ask to put a fraud alert on your credit.
Every time a business checks your credit, the warning will show up that you have been a victim of identity theft. The initial fraud alert lasts 90 days, while the extended one can last seven years. Some states even allow credit freezes that restrict access to your credit report for a fee.
Go over your credit report carefully and report any errors. Make sure you contact the credit reporting agency directly and in writing. Continue to monitor this to report any unauthorized activity as soon as it occurs. Each of your creditors should be notified as well, from credit cards to loan companies. They can often change your account information to prevent any future activities, but make sure to monitor your account to report any fraudulent spending.
Change your passwords to be more secure. It is usually best to avoid birthdays, mother’s maiden names, or any information easily accessed in public records. Make sure to file a police report on the crime with your local police or sheriff’s department. This may take some perseverance on your part, but it is important for disputing fraudulent charges.
You should not get a new social security number as that can make it difficult for new creditors to distinguish you as the victim rather than perpetrator. It is also unwise to cancel all your accounts since your credit will be shaky for a while after, but you should immediately close or freeze the accounts that have been tampered with. Protect yourself. Shred financial documents and unsolicited credit applications before throwing them away, and do not respond to spam emails.
Avoid phishing sites by always going directly to your financial institutions website or better yet physical address. Be protective of your personal information, and continue to monitor your credit information carefully. It can feel overwhelming, but with diligence and perseverance, the damage done by identity theft can be undone.