Identity Theft – The Basics of What To Do If It Happens To You

Identity theft can happen to anyone. Unfortunately, if it does happen to you, it will affect your entire life. Fortunately there are ways to handle identity theft that will allow you to fix the mess someone has caused your life. These are not quick fixes and unfortunately it will take some time before everything will be in the clear again.

The first thing you should do if you are a victim of identity theft is to notify one of the following three credit bureaus that you were a victim of identity theft: Equifax, Experian, and TransUnion. You should ask to have your file flagged. Then request to receive a credit report. You should correct all error and contact both the credit bureau and the credit issuer requesting to have the fraudulent account be blocked.

After notifying the credit bureaus of identity theft you need to contact both the police and the Federal Trade Commission to report the crime of identity theft. You will need to have a police report for the FTC. There is also an identity theft hotline you can call.

If your imposter has used identity theft to open new credit accounts you will need to contact the creditors and request to fill out a fraudulent application. Then you need to request a letter from the company saying that they have closed the account and all debts have been dropped.

Identity theft has the potential to ruin your financial life so it is important that you check your credit report and other accounts regularly for errors that may indicate identity theft. The sooner you recognize identity theft, the sooner you can have your life in order again.