Last
time we delved into what to do to prevent identity theft, but what do
you do if you see signs your identity has been stolen? Everyone
thinks of filing a police report, which is a great first step because
it demonstrates to the credit companies that you are serious, but
there's more to do to ensure you won't be held accountable for
losses. For this entire process you will be making calls, sending and
receiving letters. This should be documented in its entirety and hard
copies kept in case you have to dispute the information later.
There
are quite a few tip offs that your identity has been stolen.
Unexpected withdrawals from your bank account, missing mail, or being
refused health coverage because records show a condition you don't
have. You may find unfamiliar accounts or charges on your credit
report or receive medical bills or collection calls for accounts you
never opened or treatment you never received. You might also be
alerted by the IRS notifying you of multiple tax returns filed in
your name or of income from an employer you don't have.
After
filing the police report you should place a fraud alert on your
credit reports. Contact one of the credit reporting companies and
make the request; this agency is then required to inform the other
two main reporting bureaus. To place this alert you will need to
prove your identity. The alert itself makes it harder to open more
accounts in your name since it mandates that businesses verify your
identity before issuing credit. It will stay on your account for 90
days unless renewed. During this time the credit reporting agency
will investigate your claim and act upon it so you should make sure
to update your contact information so they can give you the results.
As
a result of the fraud alert you are entitled to an additional free
credit report which you should request and inspect for errors. First
check key information like your name, address, Social Security number
and employers. Then check for errors like accounts you didn't open
and debts that aren't yours. You should put all errors that result
from the identity theft into an Identity Theft Report and request
that the disputed information is blocked from your credit report.
To
dispute it you will have to write all three agencies explaining that
you are a victim of identity theft, listing the errors (with
documents), and a request that the information be removed. The
companies must investigate those errors through the businesses that
reported them within 30 days. They will send you a letter with the
results: either maintaining the info in your file or removing it. You
can appeal this decision if it's not favorable.
After
contacting the credit reporting agencies you should contact the
businesses that reported the errors, ask for copies of the documents
used by the thief (new accounts or those with charged purchases), and
change your PIN and passwords. If you don't want to do this yourself
you can also give permission to law enforcement to contact them for
you (although you should still change your passwords). If you have
the information, you should send details about where and when the
fraudulent transactions took place. You can include a copy of your
Identity Theft Report or the business may have their own form. You
will also need to prove your identity.
To
dispute any errors on the documents you should write the fraud
department (use the address provided for disputes) and explain that
you're a victim, list the errors, provide documents with the errors,
your credit report (black out all information they don't need) and
the Identity Theft Report or equivalent. You should request that they
remove any fraudulent information and send you a letter confirming
the removal. To dispute an account you didn't open you should do
pretty much the same thing but confirm it has been closed and removed
from your credit report.
If
you think a thief has submitted a change of address you should
contact your local Postal Inspection Service.
If
you think your Social Security number is being used fraudulently you
should contact the Social Security Administration.
You
can also contact the Federal Trade Commission to find out about
resources available to help you.
