[ad_1]
Once identity thieves have access to your personal information, they can empty your bank account, rack up charges on your credit cards, open new utility accounts or get medical treatment using your health insurance. can also be obtained. Worse, a thief may even be able to file tax returns in your name and get your refund.
The best way to protect against identity theft is prevention. But, if that fails, you need to handle the situation correctly. If you notice any mysterious charges on your credit card, or your bank contacts you to confirm the charges, your account may be at risk. If you think someone has stolen your identity, minimize the damage by following these steps.
1) Set up a Fraud Alert – It is important that you report your identity as stolen. Ask that a fraud alert be placed on your credit file. A fraud alert places a red flag on your credit report and informs both lenders and creditors that they should take additional steps to verify your identity before extending credit.
You should also order copies of your credit reports from the credit bureaus. If your report is inaccurate because of fraud, the credit bureau must give you a free copy of your report. Review your report carefully to ensure that no additional fraudulent accounts have been opened in your name or unauthorized changes have been made to your existing accounts. To report fraud contact…
Equifax
800.525.6285 (TTY: 800.255.0056) – PO Box 105069, Atlanta, GA 30348-5069
experian
888.397.3742 (TTY: 800.972.0322) – PO Box 9532, Allen, TX 75013
transunion
800.680.7289 (TTY: 800.553.7803) – Fraud Victim Assistance Department, PO Box 6790, Fullerton, CA 92634-6970
2) Contact creditors or financial institutions where fraudulent accounts have been opened – creditors may include credit unions, banks, credit card companies, phone companies, utilities and other lenders. Speak with someone in each creditor’s security or fraud department, and follow up with a written letter. It is also very important to notify the credit card companies in writing as the law specifies the procedure for resolving credit card billing errors. Immediately close compromised accounts and open new accounts with new personal identification numbers (PINs) and passwords. Avoid using readily available information for your PIN, such as your mother’s maiden name, your date of birth, and the last four digits of your Social Security number.
3) File a report with your local police or the police where the identity theft occurred – obtain a copy of the report from the credit union, bank, credit card company, or others in case proof of the crime is needed in the future.
4) File a Report with the Federal Trade Commission (FTC) – Once you have a good idea of the extent of your financial problems, you need to file a report with the FTC. You only have to do this if you believe that your identity has been stolen. The FTC doesn’t handle credit card fraud, so if only one account was touched you probably weren’t a victim of identity theft and don’t need to submit a report.
What are your next steps? Identity thieves can cause problems with your personal finances but you can’t let them take over your life. There are some things you can do to take back control of your financial life:
5) Identify and shut down the account in question – The most common way to spot hacked accounts is to notice fraudulent charges after they’ve been posted to your account. When you become aware of the situation, contact your financial institution as soon as possible, dispute the charges and ask to have your account locked or closed.
6) Look for other unauthorized charges – You need to review your other accounts and scan old statements for additional charges you don’t recognise. If you believe you missed a charge, call your financial institution and alert them to a potential problem. If your identity has actually been stolen, you may have to freeze several of your accounts.
7) If someone has stolen your mail – new credit cards, bank statements, pre-approved credit offers, or worse, tax information; Report this to your local postal inspector.
8) If you believe that an identity thief has interfered with your investment or personal brokerage account, immediately report it to your broker or account manager and the Securities and Exchange Commission (SEC). You can file a complaint with the SEC by visiting the Complaint Center. Be sure to include as many details as possible.
9) If an identity thief has set up new phone service in your name; Making declined calls that appear to be coming from your cellular phone – and they are being billed, contact your phone service provider immediately to cancel the account.
10) If you suspect that an unauthorized user seeking a driver’s license is using your name or Social Security number, contact your Department of Motor Vehicles.
11) If you believe someone has filed for bankruptcy in your name, write to the US Trustee in the territory where the bankruptcy was filed.
12) Open the most important new accounts and move on. Most financial institutions recommend opening new accounts after identity theft, even those that were not compromised.
After all that is done, how do you make sure to reduce your risk of identity theft happening again? Make sure you implement preventive measures going forward. There are lots of ways to make you a less likely target and they all do less work than recovering from being a victim:
Review your credit report regularly
Read your account and billing statement
Review your interpretation of medical benefits
Respond to notices from the IRS
Protect your personal information
Secure your Social Security number
Protect your online data and personal information
Most of these defensive measures are straightforward. By being diligent and protecting your personal information, you may find that you don’t need these tips at all.
[ad_2]