Think You're Already a Victim? Follow These Seven Steps.
If you suspect ANY improper or illegal activity is taking place, follow these seven steps immediately:
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Check Your Credit Report |
| Get
a copy of your credit report to see if any new accounts
or credit inquiries show up. Virtually all of your credit information
is in your credit report. If someone is opening accounts in
your name, it should show up there. If you suspect you've been a victim of fraud (for example; you've had your mail stolen, lost your wallet, or been contacted by a collection agency for an account you've never heard of), you should contact the fraud department for each bureau. You are eligible for a free credit report sent via U.S. mail. |
| Fight
Identity Theft Video |
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Place a Fraud Alert |
| Contact the
fraud departments of each of the three major credit bureaus
and report that you think your identity has been stolen. Ask
that a "fraud alert" be placed
on your file and that no new credit be granted without your
approval. If you're a resident of many states, you can also apply to "freeze" your credit. |
 |
Start Your Research |
| Contact each company where you think you
might have been a victim. Talk to their security or fraud department
and explain what has happened. Review your account with them
for any incorrect charges or a change of address. If you find
something is wrong, you may need to close the account. If you
open any new accounts, ask the company to put passwords (not
your mother’s maiden name) on the account. The Federal Trade Commission has tried to make this process easier by creating an Identity Theft Affidavit. It's a document you can fill out once and use with each company investigation. Get it here (you will need a web plug-in called Adobe Acrobat), or go to the FTC web site to learn more. |
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File a Police Report |
| File a report with your local police or the police where the identity theft took place. Get a copy of the report in case the bank, credit card company, or others need proof of the crime later on. Also, make sure that the crime is reported under identity theft. |
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Document Everything |
| Make notes of everyone you speak with; ask for names, department names, phone extensions; record the date you spoke to them. Don't throw these notes away! Keep all notes and letters together in case they are needed in the future. Keep track of the time you spend documenting this information and lost hours at work. You will need this information if the perpetrator is ever caught. You can be reimbursed for the time spent and hours lost. One person I know reclaimed $3200 for her effort! |
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Talk to the Government Agencies |
|
If you're see that you're a victim of identity theft, you can file a complaint with the FTC by contacting their hotline. By phone: By mail: Online: |
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Talk to the Check Verification Companies |
| If someone is using checks they've stolen from you or has set up a bank account in your name, contact the major check verification companies. In particular, if you know that a particular merchant has received a check stolen from you, contact the verification company that the merchant uses. |
Is Identity Theft Going to Cost You?
It clearly is going to cost you time and money to clear up. But your liability for charges can be limited if you report any problems promptly. Here's the info:
Credit Cards
If you report the loss before the credit card is used, the card issuer cannot hold you responsible for any unauthorized charges. If a thief uses your credit card before you report it missing, the most you will owe for unauthorized charges is $50 per card. This is true even if the thief uses your credit card at an ATM machine to obtain a cash advance.
As your liability is limited to $50, beware of calls from telemarketers selling "loss protection" insurance. Some telemarketers may falsely claim that you will be responsible for all unauthorized charges made against your account if your credit card is stolen. Don’t buy the pitch and don’t buy the unnecessary insurance.
How to Contact Visa, MasterCard, and American
Express
Visa - (800) 847-2911
Mastercard - (800) MC-ASSIST
American Express - (800) 554-AMEX
ATM and Debit Cards
Be aware that ATM and debit cards do not allow the same protections
as credit cards. If you fail to report unauthorized charges within
a timely manner, you could be held liable for the charges.
- If you report an ATM or debit card missing before it is used without your permission, your financial institution cannot hold you responsible for any unauthorized withdrawals.
- If you report your ATM or debit card lost or stolen within two business days of discovering the loss or theft, your liability is limited to $50.
- If you report your ATM or debit card lost or stolen after the two business days, but within 60 days after a statement showing an unauthorized withdrawal, you can be liable for up to $500 of what a thief withdraws.
- If you wait more than 60 days, you could lose all the money that was taken from your account after the end of the 60 days and before you report the card missing.
Checks
Most states hold the bank responsible for the losses from a forged
check. However, you may be held liable for the forgery if you do
not notify the bank in a timely manner that a check was lost or
stolen, or if you do not monitor your account statements and promptly
report an unauthorized transaction. Contact the major
check verification companies to request that they notify retailers
using their databases not to accept the lost or stolen checks, or
ask your bank to notify the check verification service with which
it does business.
