What To Do in Case of Identity Theft

If you are one of the more than 10 million people who fall prey to identity theft each year, Rich suggests taking the following steps:

• Contact your creditors and bank immediately to discuss your suspicions.
• Contact your local police department immediately and file a report. Be sure to obtain a copy of this report.
• Collect all documents, such as your credit report and monthly statements. Keep detailed notes about whom you speak to and what notices you receive.


• Do not destroy any related paperwork.
• If you believe someone is fraudulently using your Social Security number, contact the Social Security Administration.
• Change your password and PIN on all ATM, debit and credit cards. Also change your checking account number and related passwords and PINs.
• Contact the Fraud Victim Assistance department at each of the major credit reporting agencies.
• Request that a "Fraud Alert" be placed in your credit report file. This requires that creditors take additional steps to verify your identity before granting credit.

The Fraud Alert will prevent further usage of your name and identity, and the credit bureaus will work with the creditors to determine which charges are fraudulent and get them removed from your credit report.

"Although you may be protected financially if you're a fraud victim, correcting the problem will still often require a significant time commitment on your part," Rich says. But there are a growing number of resources, including the Federal Trade Commission's Identity Theft Data Clearing House (www.consumer.gov/idtheft), to help victims regain control of their identity.

For more information on preventing identity theft, check out Rich's Dirty Little Secrets: What the Credit Bureaus Won't Tell You.
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