What to Do When Your Identity is Stolen
You’ve seen the commercials warning you to keep your information safe. You’ve heard horror stories of families facing year-long battles with creditors, banks, and insurance companies. But you never thought identity theft would be something you’d have to worry about. That is, until your credit card was declined when you went to pay for your lunch.
The truth is, identity theft can happen to anyone. If a thief’s intent on stealing your identity, he’ll do whatever he can to get his way. Of course, it’s those who are careless with their information and data who place themselves at the highest risk. If someone really wants to steal your identity, the least you can do is make them work extra hard to do so.
At any rate, if you happen to become a victim of identity theft, all is not lost. You’ll definitely face an uphill battle in the coming months – and possibly years – but there are steps you can take to ensure your name and reputation are cleared. The sooner you take action, the sooner you’ll be able to go back to real life.
Take Immediate Action
If your identity is stolen, wasting time worrying will only exacerbate the problem. Though you may still be dazed and confused after realizing you’ve been victimized, you can at least begin the process of rebuilding your identity by taking the following steps.
From the moment you realize you’re a victim of identity theft, you need to keep a running record of every step you take toward fixing the issue. Keep a log of every call you make, letter or email you send, and form you fill out. Note the date and time each was received or sent out, as well as the content of each instance.
By doing so, you have proof of the moment you realized something was wrong, and also that you are actively trying to fix the situation. You also keep a record of who you’ve contacted and have worked with while trying to solve the problem – in case there is a mixup on the other end.
Contact Credit Reporting Companies
Once you’re prepared to document every conversation you have regarding your identity from here on out, contact a credit reporting company – Equifax, Experion, or TransUnion – to request that a fraud alert claim be placed on your account. Doing so will flag your account so companies know there is an issue that is currently being dealt with in regard to your credit score.
Request a Credit Report
Although you only need to contact one of the three companies to request a fraud alert claim, you should request a credit report from each of them. Although major damage has already been done, checking your credit report for ID theft will help you pinpoint when the security breach occurred, and will also keep you informed of any further issues with your credit score.
Create Official Reports
Once you have all the information you could possibly get from your credit report, you’ll need to file formal complaints. The first complaint to file is a report to the FTC. In this report, you’ll need to provide as much information as possible regarding the identity theft. Make a copy of this, of course – you’ll be using it immediately.
Next, file a police report at your local station. This will open the door for a formal investigation by law enforcement on your behalf. Together, these documents form a solid identity theft report, which should be sent to any banks, credit card companies, and businesses you work with.
Taking Care of Business
The main purpose of stealing one’s identity is, of course, to use their credit cards and other information to make fraudulent purchases. Once you have your claims in, you’ll need to track down exactly what the thief did with your information, and inform these companies of the issue.
Contact Companies You Work With
Most of us nowadays have multiple bank accounts, credit cards, and other open accounts involving our hard-earned cash. Unfortunately, when someone steals your identity, you’ll have to contact each and every one of these businesses to make sure they know what’s going on.
When reaching out to these companies, ask to speak with someone in the fraud detection department. Workers in these areas should be able to notice discrepancies between your normal course of action and when you were victimized. Provide these companies with the identity theft report you previously created so they have solid documentation to work with.
Change Your Passwords
You undoubtedly have dozens of online accounts that store bits and pieces of your identity. Whether it’s your social media accounts, bank accounts, or credit card accounts, they all give away something about you. Be sure to change every single one of these passwords.
And make sure the new ones aren’t in any way similar to the previous ones. Your best bet is to make them a convoluted series of characters rather than your favorite TV show or the year your sister was born. Again: Don’t make it easy for thieves to get into your accounts.
Check For New Accounts
Since the thief has all of your information, there’s nothing stopping him from opening accounts in your name and running up the bill.
Use your credit reports to see if this has happened. If so, contact each business’ fraud department and be ready to provide them with a copy of your identity theft report. Hopefully, if you catch it quickly, they should be able to close out your account with little to no hassle.
Request Records from Businesses
While contacting each company to report the theft of your identity, request that they send you a record of your past activity with them. Some companies may be reluctant to do so. If this occurs, contact the police department where you filed the initial report and give them permission to contact these companies on your behalf. If need be, the police can subpoena this information formally.
Dealing with Fraudulent Bankruptcy Claims
Thieves may have filed bankruptcy on your behalf, which will present major issues for you moving forward. Check with the US Trustee office, again providing them with all of the information you’ve collected thus far. Unfortunately, if a fraudulent bankruptcy claim has been filed, you may have to hire an experienced attorney to work through the issue on your behalf.
Other Outstanding Issues
There are a lot of other issues that may come up while you fight this seemingly uphill battle, but hopefully you won’t have to deal with the entire gauntlet. Your student loans, medical bills, and utility bills are all at risk of being used as means to nefarious ends. Keep track of them throughout the process of rebuilding your identity.
Reduce Your Future Risk
Once you start to get your life back on track, you’ll want to keep it that way for good. After what you’ve been through, you’ll probably be extra careful moving forward as it is. Make sure you take extra care in the following areas.
Keep Track of Credit Reports
Victims of identity theft have much freer access to their credit reports. Take advantage of this; check your credit score at least a few times a year as time goes on. Even if you do end up having to pay a small fee, it’ll be completely worth it to ensure you don’t have to go through the same nightmare again.
Keep Track of Important Documents
Even though you’ll probably want to shred the pages and pages of documentation regarding your identity theft case, keep them. You’ll likely need to provide them to any company you open accounts with in the future. And, if anything, they’ll serve as a reminder to keep your information safe from now on.
Protect Your Electronics
Make sure you use antivirus and antispyware programs on computers which you use to access important information. Spending a hundred bucks or so upfront will almost certainly save you money and time in the long run. Don’t ever use public Wi-Fi, period. Hackers are quite adept at accessing other users’ information through these networks, no matter how protected you think you are.
When disposing of electronics, remember: Just because you delete a file doesn’t mean it’s gone. Find a program that will completely erase your hard drive to the point of no return. This may mean hiring an expert to help you out. But, once again: spending a little up front can save you a ton moving forward.
It’s a sad truth that criminals will do whatever they can to make their lives a little easier. Unfortunately, this often involves using technology against us – even technology that could be used to unite us.
If you become a victim of identity theft, you face an uphill battle. But that doesn’t mean you can’t come out of it stronger, more knowledgeable, and more wary than before.
Featured photo credit: Credit Card Fraud / Simon Cunningham / Flickr via farm8.staticflickr.com