Identity theft is a serious crime. Sometimes, victims can resolve the issue quickly with minimal damage to their personal finances and well-being. Other times, it can be a time-consuming, expensive process that has serious impact on your life. That’s why it is so important to take precautions to avoid becoming a victim.
Of course, this is not always possible. So what do you do if you think your identity has been stolen?
Steps To Take If Your Identity Has Been Stolen:
1. Place a ‘fraud alert’ on your credit reports, and check your credit reports regularly. Fraud alerts can help prevent an identity thief from opening any more accounts in your name. Contact the toll-free fraud number of any of the three consumer reporting companies 800-550-1961 or visit their websites (you only need to contact one of the three companies to place an alert on all three).
2. Close any accounts that you believe have been tampered with or opened fraudulently. Call and speak with someone in the security or fraud department of each company. Follow up in writing, and include copies (NOT originals) of supporting documents. Send your letters by certified mail, return receipt requested, so you can document what the company received and when. Keep a file of everything you send and a record of every conversation.
3. File a complaint with the Federal Trade Commission.
You can do this on their website https://www.ftc.gov/ or by calling the FTC’s Identity Theft Hotline 1-877-ID-THEFT (438-4338).
4. File a report with your local police or the police in the community where the identity theft took place. Call and ask them if you need to file the report in person or if you can do it over the phone or on the internet.
5. For fraudulent tax activity, notify the IRS.
If someone filed a tax return using your social security number, notify the Internal Revenue Service (IRS) immediately. According to the IRS, victims or potential victims of identity theft can complete Form 14039, Identity Theft Affidavit to mark their account to identify any questionable activity.