Despite how many preventative steps you take to avoid becoming a victim of identity theft, the unthinkable can still occur. In this situation, follow the list of steps below to quickly repair any credit damage. The faster you do this the better.
- Contact at least one of the three credit reporting agencies and request a fraud alert be placed on your credit report. Once the fraud alert is placed on your account it will automatically be placed on the other two. This fraud alert is good for 90 days and can be extended up to 7 years if it is filed with the police department. The fraud also alert notifies credit granters to confirm requests for credit before granting. At this time, you will also be eligible for a free copy of your credit report from each bureau when you have a fraud alert on your report.
- Report the identity theft to your police or sheriff’s department and obtain a copy of the police report. Creditors will require the police report when you request the removal of negative information from your file.
- Report the identity theft to the Federal Trade Commission. You will need to complete the Identity Theft Affidavit form. Many of the creditors affected by the theft will need this.
- Close any account affected by the identity theft.
- Notify all of your credit card companies and let them know you were a victim of identity theft.
- Close any unfamiliar accounts.
- Contact the Social Security Administration if you suspect that your Social Security number was compromised or is being used by someone else.
- Make copies of all correspondence to credit bureaus, creditors, Federal Trade Commission, Social Security Administration and others pertaining to the identify theft.