How to Report Identity Theft

Finding that you have fallen victim to identity theft can be an awful experience. Maybe you received a large credit card bill in the mail for a card that you have never owned; maybe you were denied credit for a car loan; even worse, maybe you were told that you could not get a mortgage on your dream home because of your credit.

No matter how you learn of the theft of your identity there are four places you must contact immediately:

1) The credit bureaus

When you contact the credit bureaus you will need to place a fraud alert on your reports. This will prevent the thief from opening any future accounts in your name. This will also entitle you to a free copy of your credit report.

Review this free copy of your report to check for errors and for instances of fraudulent accounts. Any accounts that you cannot identify should be immediately reported to the credit bureau. The credit bureaus will allow you to dispute inaccurate information right on their websites.

The three major credit bureaus are: Equifax, Experian, Transunion

2) The companies that have fraudulent accounts on your report

Contact all of the companies that are reporting illegitimate information on your credit report. You will want to talk to someone in their fraud department and send them any supporting documentation that you may have in your possession. Be sure to send only a copy, not the originals, keep those in your possession.

In many cases the company will require that you fill out an affidavit of fraud, particularly banks. Ask for a copy of this form if the company does not automatically give you one. If they do not have such a form ask if they will accept a copy of a police report or the Federal Trade Commission's ID Theft Affidavit.

3) The Federal Trade Commission

You can, and should, file a complaint directly to the Federal Trade Commission (FTC). By doing this you will help the federal government and law enforcement track down and fight ID theft. The FTC will distribute the information about the theft to appropriate agencies and investigate companies that may be participating in the theft.

By filing the complain online you can print it and provide it to companies that may request it and to local law enforcement. According to the Federal Trade Commission, this filing, along with the police
report, can be used to:

(1) permanently block fraudulent information from appearing on your credit report;

(2) ensure that debts do not reappear on your credit report;

(3) prevent a company from continuing to collect debts that result from identity theft: and

(4) place an extended fraud alert on your credit report.

4) Local law enforcement

Call your local police department and inform them that you need to file a report concerning identity theft. This is best done in person but occasionally must be done on the phone or online. Give the police department a copy of the FTC filing so that they may add it to the police report.

Of course, get a copy of the police report once it has been completed and keep this for your records. The police report may be necessary to file a claim with individual companies.

While identity theft can be incredibly damaging and scary, don't allow it to paralyze you into inaction. Immediately contact these groups and file the necessary reports.