My identity was stolen what do i do

In today’s digital age, identity theft is becoming a larger and larger problem. According to an article in PC World magazine, Identity theft involve millions of people every year, costing billions of dollars for credit card companies, banks and the victims of the prevalent fraud. If you’ve had your identity stolen, there is little you can do to prevent the criminals from using your identity to defraud others, but there are several things you need to do to protect yourself from the consequences.

Cancel your credit cards. This is a vital step if you have lost your credentials (i.e. your driver’s license, credit cards, etc.) The last thing you need is the person that stole your identity having free reign over your bank account and credit.

Alert the big three credit reporting companies to the fact that your credit has wound up in the hands of an identity thief. TWA, Equifax and Experian all keep a file on you of your consumer credit. Every time that you apply for a credit card or miss a payment, it shows up on your credit reports. These reports are used by creditors to assess your ability to make payments on time and how much debt you carry. You’ll need to call them to report the fraud alert identity theft. When you do so, they will put an alert on your credit, requiring that any card companies or other creditors need to get prior approval before they can issue credit in your name. It also protects you down the road if, and when, you do find fraudulent charges on your credit reports. You can have these black marks removed citing identity theft if you have the prior credit reporting agency documentation to back it up. There are other steps that you can take. Consult the credit reporting agencies for further information.

My Identity Was Stolen What Do I Do? Protect Yourself From Identity Theft

Recovering and more importantly preventing identity theft

Thieves who go after your identity often succeed in making fast cash, often at your expense, but also sometimes at the lender’s expense. Credit has historically been easy to come by in this country, thanks to the many companies competing in the lending industry. They encourage laws to be lax, and private citizens also often prefer access to money when they need it. All that is needed to access credit is your name, address, phone number, and social security number, and sometimes only a few of these.

Some creditors absorb the loss, apologizing for their mistake. Others insist the borrower was you, both to avoid paying the money and because some people only pretend to be victims. As easy as it is to obtain credit, it can be difficult to prove someone stole your identity, especially if the thief withdrew cash. To this end, the most important thing you can do is limit your own access to credit, and work with banks or institutions that have security guarantees.

There are a number of services that protect your identity. This includes credit monitoring services such as experian and Other services are more comprehensive, and behave as an identity theft lock. Lifelock and creditlock are examples, offering complete monitoring, credit restrictions, and even an insurance policy. These services are valuable tools, but if you are a victim, it is also possible to contact the police or even your bank, who should know to freeze your credit and take steps to investigate the fraud.

Identity thieves often escape frolicking with your money, but sometimes they can be caught. The important part is freezing your account as fast as possible to prevent further losses. If the thief is still spending, and they use your info at a store, they might give themselves away.

There are plenty of attorneys who know how to work fraud cases, and it is possible to find one even in your town. Bear in mind that they have no easier time finding evidence than the police, but they may know enough about the waters to navigate your sinking financial ship to dry ground. It is highly recommeneded that you check your credit report atlease once a year to prevent identity theft as well as errors. Remember always that prevention is the only real remedy, and credit institutions have limited interest in investigating fraud.