You should report identity theft the minute that you discover it.
This is because you typically only have about sixty days to dispute any charges on your card or in your account before you are liable for the stolen amounts.
Thankfully there are more resources than ever before to help victims.
It is still a hassle to deal with the credit bureaus, creditors and collection agencies to deal with correcting the errors on your report but it is a lot better than it was in the past.
If you do find yourself to be the victim of identity theft then your first step should be to visit the website of the Federal Trade Commission at [http://www.
consumer.
gov/idtheft].
You can also call 1-877-FTC-HELP (1-877-382-4357) to get free information in the form of brochures about how to deal immediately with your identity theft.
Two other great resources for individuals who have experienced identity theft are the Identity Theft Resource center (www.
idtheftcenter.
or or 1-858-693-7935) and the Privacy Rights Clearinghouse (www.
privacyrights.
org).
When it comes to dealing with the financial institutions they come in two flavors - either they are kind and responsive to victims or they will treat you like a criminal until you can prove that it was someone else who rang up the charges on your account.
If you are a victim of identity theft here is what you immediately need to do to prevent the situation from getting out of your control (according to the FTC.
Keep notes of every conversation you have with the police, the credit card companies, merchants and anyone else.
Remember to include dates, times and first and last names in these recorded so you can refer to them if you need to in later correspondence or a future legal procedure.
Back up all telephone conversations these in writing with letters sent certified mail (return receipt requested.
) The same goes for all formal letters, such as letters of dispute and Fraud Affidavits.
Add a fraud alert to your credit file and make sure the alert is on for seven years rather than for a shorter period.
All three bureaus have joined together to create a fraud alert system.
If you call one credit bureau then the others will be notified of the fraud.
The numbers to call to report your fraud are Equifax-- 1-800-525-6285 Experian - 1-888-397-3742 TransUnion - 1-800-680-7289 The credit bureaus are also required to send you a free credit report after you have reported a fraud alert.
Also they are required to supply you with the contact information of any creditors that you don't recognize on your credit report.
You might also have the option of putting a "freeze" on your credit reports.
This prevents anyone from accessing your credit reports for any reason.
This is a good idea if the fraudulent transactions have somehow caused negative comments on your reports that have yet to be removed.
Someone is using one of your existing credit or bank accounts to run up charges the bank or lender typically closes the account and issues a new one along with some kind of form or affidavit to report the fraud.
If new accounts have been opened the financial institution also asks you to fill out a fraud affidavit.
Many accept the uniform fraud affidavit that is widely available on the FTC website at [http://www.
ftc.
org].
Contact the police or local sheriff.
It is a federal crime to assume someone else's identity in both Canada and the United States.
Supply as much documentation of the fraud that you can to support your claims.
The idea is to get the law enforcement agency to list the affected accounts on the report as a police report can help enormously in getting problems resolved with merchants who may still try to make you liable for the fraudulent amounts.
Finally contact the bank and checking verification companies.
If the crooks set up phony bank accounts in your name or stole check you need to close those accounts and stop payment on any outstanding checks.
Then open new checking and savings accounts so you can start fresh.
This is because you typically only have about sixty days to dispute any charges on your card or in your account before you are liable for the stolen amounts.
Thankfully there are more resources than ever before to help victims.
It is still a hassle to deal with the credit bureaus, creditors and collection agencies to deal with correcting the errors on your report but it is a lot better than it was in the past.
If you do find yourself to be the victim of identity theft then your first step should be to visit the website of the Federal Trade Commission at [http://www.
consumer.
gov/idtheft].
You can also call 1-877-FTC-HELP (1-877-382-4357) to get free information in the form of brochures about how to deal immediately with your identity theft.
Two other great resources for individuals who have experienced identity theft are the Identity Theft Resource center (www.
idtheftcenter.
or or 1-858-693-7935) and the Privacy Rights Clearinghouse (www.
privacyrights.
org).
When it comes to dealing with the financial institutions they come in two flavors - either they are kind and responsive to victims or they will treat you like a criminal until you can prove that it was someone else who rang up the charges on your account.
If you are a victim of identity theft here is what you immediately need to do to prevent the situation from getting out of your control (according to the FTC.
Keep notes of every conversation you have with the police, the credit card companies, merchants and anyone else.
Remember to include dates, times and first and last names in these recorded so you can refer to them if you need to in later correspondence or a future legal procedure.
Back up all telephone conversations these in writing with letters sent certified mail (return receipt requested.
) The same goes for all formal letters, such as letters of dispute and Fraud Affidavits.
Add a fraud alert to your credit file and make sure the alert is on for seven years rather than for a shorter period.
All three bureaus have joined together to create a fraud alert system.
If you call one credit bureau then the others will be notified of the fraud.
The numbers to call to report your fraud are Equifax-- 1-800-525-6285 Experian - 1-888-397-3742 TransUnion - 1-800-680-7289 The credit bureaus are also required to send you a free credit report after you have reported a fraud alert.
Also they are required to supply you with the contact information of any creditors that you don't recognize on your credit report.
You might also have the option of putting a "freeze" on your credit reports.
This prevents anyone from accessing your credit reports for any reason.
This is a good idea if the fraudulent transactions have somehow caused negative comments on your reports that have yet to be removed.
Someone is using one of your existing credit or bank accounts to run up charges the bank or lender typically closes the account and issues a new one along with some kind of form or affidavit to report the fraud.
If new accounts have been opened the financial institution also asks you to fill out a fraud affidavit.
Many accept the uniform fraud affidavit that is widely available on the FTC website at [http://www.
ftc.
org].
Contact the police or local sheriff.
It is a federal crime to assume someone else's identity in both Canada and the United States.
Supply as much documentation of the fraud that you can to support your claims.
The idea is to get the law enforcement agency to list the affected accounts on the report as a police report can help enormously in getting problems resolved with merchants who may still try to make you liable for the fraudulent amounts.
Finally contact the bank and checking verification companies.
If the crooks set up phony bank accounts in your name or stole check you need to close those accounts and stop payment on any outstanding checks.
Then open new checking and savings accounts so you can start fresh.
Source...