Maybe You Found Out Because Creditors Have Started Contacting You

Category: Finance, Credit.

You may not recognize it when the theft first occurs, but you suddenly start getting warnings that something is wrong with your credit.

Maybe you found out because creditors have started contacting you. Maybe you were one of the smart ones who gets credit reports annually. Your identity has been stolen. All of them are tedious, but it s vital you get things back into order. There are a number of steps you need to take once you realize your identity has been stolen. And unfortunately it can take years to get your accounts back in order. The first thing you need to do is get your credit report from all three agencies.

The entire process is tedious and draining. You are entitled to this free in the instance of fraud. This will make it harder for you to get credit, but will inhibit further fraud. You can also request a fraud alert be placed on your account. There are two types of fraud alerts. It s good when your wallet is stolen or if you fall for a phishing scam. The initial fraud alert is valid for only 90 days, and is good if you suspect there is a problem, but aren t certain.

An extended alert stays on your account for seven years. The extended alert also removes your name from the marketing lists for preapproved credit cards for five years. You have to provide the company with an identity theft report to get an extended alert placed on it. You will need to keep track of all your efforts to clean up the problem. Who you talk to, the time and what was discussed. Buy a notebook and take plenty of notes.

You want to have notes to refer back to so that you can prove that you have taken the steps you say you have. This can help you to gather the information the police report will require. Go to the FTC website to file your complaint. They have a form for you at http: //www. ftc. gov/ bcp/ conline/ pubs/ credit/ affidavit. pdf. While identity thieves are rarely caught, this helps you when you are disputing the various illicit accounts. File a police report.

Credit agencies and creditors will probably want the information about the case. Explain the problem and have them close the account per your request. For all illicit accounts, talk to the fraud department. It can be difficult, as many places will insist that you enter an account number, which you won t have. Then get the phone number for that before they transfer you. Try calling another department and explain why you need a direct connection.

Don t wait to ask the person you are transferred to. If they have the number and give it to you, you can save yourself some frustration. Many employees are just terrible at transferring calls and accidentally disconnect them instead. If they can t give you a number, make sure you get it after the transfer. Be prepared to make copies of the various documents and to have them notarized. Most companies will want everything in writing. For your own protection you should also send them by certified mail and get a return receipt so that you can prove you sent it and that it was received.

Don t think you re going to get this resolved quickly or without frustration. All of this is incredibly tedious and time consuming. Identity theft is a difficult issue to clear up. After a while you should get used to the routine required. Try to be patient and let the fraud representatives help you. It s not going to be pleasant but it is very necessary. And don t forget that you can get your free credit report from each bureau annually.

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