What To Do When Identity Theft Happens To You

Not a day goes by that I don’t hear about someone I know getting sideswiped by identity theft.  This problem is not going away and identity thieves are growing smarter.

Think how your life has changed since the intrusion of identity theft: 

•You’re suspicious when your credit card is swiped at a business.

•Your important papers are shredded to keep personal information from dumpster diving thieves.

•Phone calls from solicitors put us on the defensive as we wonder if we’re about to be scammed.   

We’ve got good reason to be concerned.  According to the Federal Trade Commission, 27.3 million Americans have been victims of identity theft in the last five years. 

Assume you’ve done everything you can to prevent identity theft but you’re seeing charges on your credit card you’ve no idea about.

What do you do once you suspect ID theft has taken place?

First, contact your credit card issuers. Close existing accounts and obtain replacement cards with new account numbers.  Ask for verification that the disputed account has been closed and all fraudulent charges have been removed.  Besides the phone calls you make to the credit card companies, put your requests in writing. Use the Federal Trade Commission's ID Theft Affidavit (PDF), a form that helps simplify the identity theft process.

Some companies allow you to attach a special PIN or password on any new accounts you open.  This way if the thief has stolen your mother’s maiden name, your social security number or your birth date, you can use another identifying mark to protect yourself.

Another important step, according to the Federal Trade Commission is to place a “Fraud Alert” on your credit reports. The “Fraud Alert” informs creditors to follow a certain procedure before they open any new accounts in your name.

Suppose someone confiscates all your personal information, and decided to open a few new credit card accounts using your data. The alert would signal the creditor not to open a new account or make any changes unless you’re called at a phone number you specify.

Here are three numbers you can call to place a fraud alert on your account: 

Equifax:  1-800-525-6285
Experian:  1-888-397-3742
TransUnion: 1-800-680-7289

Another step you can’t pass up is to contact Call For Action at 1-866-434-6854, an Identity Theft hotline where you can speak to a trained counselor about your situation.  The personnel at Call For Action will walk you step-by-step through the process of getting your identity back under your control.

File a police report. Creditors may ask you for proof of the Identity Theft.  File a report with law enforcement officials so you can have proof when asked.

Report the theft to the Federal Trade Commission.  The FTC needs as much information as possible to help in their investigations of Identity Theft.  You can call them at 1-877-438-4338 or go on line to ftc.gov/idtheft.

One other area where ID theft occurs is with telemarketing fraud.  According to the National Fraud Information Center, American consumers lose an estimated $4.9 billion each year through telemarketing fraud, and the FBI estimates there are 14,000 illegal telephone sales in the U.S. each day.

When you speak to a telemarketer, NEVER give your credit card numbers, bank account numbers, social security numbers or other personal information. You should only give them information after you’ve established you’re speaking to a legitimate company. 

If you think you’re speaking to a fraudulent company about to take you on a ride, here’s what you do:  hang up the phone. You do not need to stay on the phone engaged in unwanted conversation with a stranger who might be stiffing you.   

John   
Email John:  johnsblog@teshmedia.com

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Comments

[Identity Protection Services]

When asked for information from a company you deal with whether it be by email or phone you should always contact the company directly. IE: call them back, or type in the URL directly - don't use the email link. If you are a victim, in addition to the fraud alerts, make sure you order and review your credit reports. Both can be done for free but if you would rather have someone else do it visit http://www.identitytheftlabs.com for a comparison of the leading identity protection companies. They will also provide you with insurance but only for the thefts that haven't occurred.