Identity Theft – 6 Steps to Report It

Terrifying effects can result from an implicit crime like identity theft. You may be able to learn about these devastating outcomes in a variety of ways. You may notice something is evidently wrong when you can no longer withdraw cash from your bank account, or when you apply for a loan or mortgage but irrationally turned down, or when your credit card is unreasonably declined. Even worse, you may find yourself as yet another victim of these identity criminals when you have received a thousand-dollar worth of fraudulent checks signed on your name and account number. Whatever the case scenario is, identity theft is one crime you would never wish to find you.

Nevertheless, it is how fast you react that will save you from further trouble. You must know whom to call and to what establishment you should report your situation to. The speedier you report it, the less trouble you have to deal with. So here are 6 steps enumerated on how and to whom you should report an identity theft case.

1. Determine the extent of damage

Assess the situation. Check all your financial accounts, such as bank or credit card accounts, since these are the primary targets of identity thieves. Make a list of all these accounts so that you may thoroughly check any unapproved operations or alterations of your personal information.

2. Activate a fraud alert

Credit reports show a fraud alert so that credit line companies will be notified that an identity theft is currently using your credit account. This alert should be activated to the three national consumer reporting agencies (CRAs), namely the Experian, TransUnion, and Equifax.

3. Request a credit report

This action can be simultaneously performed as you activate a fraud alert with the three CRAs. While reporting to them, request a copy of your current credit report so that you will be able to review your recent transactions. If you find any inconsistency or inaccurateness, report back to the CRAs immediately. After this, you may undergo a tedious dispute process so that you may be able to correct the erroneous entries in your record.

4. Close all your accounts

It will be more convenient for you to close all your possible accounts, such as bank or credit card accounts, for these may be compromised as well. It will be more secure to open new accounts so that it will be less likely for identity thieves to crack them again.

5. Contact the Federal Trade Commission (FTC)

The FTC is a federal repository for identity theft complaints. You must file a complaint to them so that they will be able to use the aggregated information to perform a federal action. You can contact them by phoning 1-877-IDTHEFT (438-4338) or by visiting http://www.YourLost.info.

6. File a complaint to your local police station

Though this may be a frustrating move, make sure that you will be able to file a complaint to the police department. You can use their police report as a supporting document, which you can show to financial companies and employers in the future.

Tina L. Douglas is a skilled writer from California. With numerous experiences in the field of writing for several financial institutions, she is greatly qualified across a variety of economic issues. Her notable pieces of writing involve identity theft.