[ad_1]
Victims of identity theft reported losses of more than $15 billion in 2014. This is more than the combined losses from burglary, motor vehicle theft and other property theft in the same period. While it’s no surprise that identity theft can make you feel vulnerable, there are things you can do to take some control.
Step 1: Order Your Credit Report When you realize that you have become a victim. You need to address any errors you see on your reports right away. Visit AnnualCreditReport.com for free copies of your reports from all three nationwide credit-reporting companies—Experian, Equifax and TransUnion.
If you notice any errors or fraudulent charges, report them to the credit reporting companies immediately. They will investigate those items and then forward the information to the reporting business. The business has 30 days to respond.
If the business providing the loan finds an error, it should notify the credit reporting company so that your file can be corrected. If your credit changes because of a business check, the reporting company will send you a letter with the results.
Step 2: Raise a fraud alert To make it more difficult for an identity thief to open more accounts in your name. Call one of the three nationwide credit reporting companies and ask them to place an initial fraud alert on your credit report. They should contact the other two companies about your alert.
Equifax
1-800-525-6285
experian
1-800-397-3742
transunion
1-800-680-7289
While there is an alert on your report, whenever a business makes a credit inquiry, they will need to verify your identity before issuing credit in your name. This may require contacting you, so make sure you update your credit report with your current contact information. The alert will remain on your report for 90 days and allows you to order an additional free copy of your report from each of the three credit reporting companies.
Step 3: Consider a credit freeze. A credit freeze, also known as a security freeze, gives you maximum control over who has access to your credit. This can prevent a thief from opening new accounts in your name because lenders and other creditors will not be able to access your credit report.
With a credit freeze, you also need to take special steps to apply for credit. You can still open new accounts, apply for jobs, rent an apartment, buy insurance, refinance your mortgage, or do anything else that requires your credit report. be required. But businesses will need to verify your identity, so they may need to contact you and have you call the reporting company to lift the freeze in order for the business to review your report. Again, make sure you have the most current information on your credit report.
Some things to know: Due to strict laws, you must contact each reporting company separately to place a credit freeze. Also, placing a credit freeze does not affect your credit score. Lastly, the cost depends on where you live. The fee will be waived if you are 65 or older, or a victim of identity theft and submit a valid investigation or incident report, complaint to a law enforcement agency or the Department of Motor Vehicles (DMV).
Step 4: File an identity theft report. An identity theft report is a great weapon. You can use it to remove fraudulent information from your credit report; Prohibiting a company from collecting debts arising from identity theft—or from selling the debt to another company for collection. You can also use it to place an extended fraud alert on your credit report, and to get information about accounts that have been opened or misused by an identity thief.
Filing an identity theft report is simple: File a Complaint About Theft with the FTC, When you have finished writing all the details, print a copy of the report. This will be printed as an Identity Affidavit.
File a police report about your identity theft, and obtain a copy of the police report or report number. (Be sure to bring your FTC Identity Theft Affidavit and attach it to your police report).
Some credit reporting companies may ask for more information or documents than is included in an identity theft report. It depends on the policies of the credit reporting company and the business that sends the information about you to the reporting company.
Step 5: Report fraud on existing accounts. Contact the business immediately for any of your accounts that show fraudulent charges. Explain that you are a victim of identity theft. Close the account and follow their reporting process. You can ask if they will accept your identity theft report. Additionally, write to the fraud department of each business. By law, they must review your letter, investigate your complaint, and tell you the results of their investigation. If the information is incorrect, the business must tell the credit reporting company. Be sure to receive a letter confirming the removal of fraudulent information from the business.
With any open credit card or bank accounts, take steps to protect yourself. Change your passwords and keep code words on accounts that allow them. Code words are provided on some accounts as an added level of security. You can usually choose your own code words. You might consider using something that only you would know and that is not public knowledge. Lastly, constantly monitor your accounts, keeping an eye out for any suspicious activity.
[ad_2]