Victim Of Identity Theft - What To Do If It Happens To You

Like most people, you take your financial responsibilities seriously and endeavor to pay off monthly credit card bills, loan and mortgage payments. So it comes as a bit of a shock when you get a call from a debt collector, or new credit cards get mailed to you. Or maybe you are turned down for a new credit card because of delinquent payments.

Without knowing it, the chances are that you may be the victim of identity theft. It is important to take action as soon as you suspect that this might be so. Here are three things you must do to prevent further harm being done. First, notify various fraud departments. Report the crime to your local law enforcement service. Finally, monitor your credit report.

The first action that victims of identity theft should take is to report the incident to the fraud department of the three main credit bureaus. These credit bureaus are Experian, Equifax and TransUnion. By notifying one of these bureaus the agency will be obliged to notify the others so this is easier than might be first expected.

The credit bureaus will flag the account of the individual that has reported the incident. This means that potential creditors will be required to personally call the individual who is making application for credit.

In addition, there are certain procedures that a victim of identity theft can expect when they report identity theft. Those additional procedures include the personal account being flagged for 90 days. Following this flagging process, the victim will be notified that this has been accomplished along with a listing of additional rights afforded to the victims of identity theft.

Once this notification has been received, the individual can request a free copy of their credit report. In addition, it is strongly suggested that a formal request be made to the three bureaus. That request should ask that their flagged account be extended from 90 days to 7 years.

On receipt of your credit report it is important to examine all the activity that has occurred over the time period that you suspect your identity might have been stolen. Look for fraudulent transactions If it is determined that such actions exist, the victims of identity theft should contact the credit bureaus informing them of that activity. Once reported, the credit bureaus are obligated under the law to suppress the reflection of this fraudulent activity to others who are authorized to look at the personal credit report.

After notifying the credit bureaus, you should also report the crime to your law enforcement agency. They in turn will file an official report. This will help you any future events such as criminal proceedings should the identity thief be caught. It is important that victims of identity theft review the police report and make sure that the report lists the fraudulent accounts.

Finally, in order to ensure your continued protection against identity theft, you should pay carefully attention to your credit report. This will ensure that you spot any untoward activities occurring and can take action immediately. After an incident of identity theft you should keep a close eye on the report. After that, you should check your report on a monthly basis.

For advice on how to protect your identity and ways to define identity theft, visit http://www.identitytheftsentry.com/ Adrian Whittle writes articles concerning identity theft including common scams like phishing and credit card fraud.

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