The Correct Way To Report Cases Of Identity Theft
Experts estimate that cases of identity theft can cost consumers hundreds of millions of dollars annually and the damage doesn’t stop with the loss of the person’s money. People that have become victims of identity theft also must deal with trying to remove the fraudulent accounts and charges from their credit record and take steps to prevent the theft of their personal information in the future. It can take years for a person to repair the damage from a single instance of identity theft, which is why it is so important for a person to know the correct way to report cases of identity theft.
The First Step
The first step in reporting cases of identity theft is to review your credit report for any unauthorized accounts that may have been opened in your name. Although you may realize that you have exposed your personal information and made it easily available to identity thieves, you will never know the total extent of the damage that the thieves have caused without obtaining a copy of your credit report. The credit report will list all of the accounts that have been opened in a person’s name, making it easy for the person to determine which companies they need to call to close fraudulent accounts.
There is a government-authorized website that will allow a person to obtain one credit report from each of the three main credit reporting bureaus for free each year. That website is AnnualCreditReport.com and the free credit reports can be obtained by typing your information into the online form and verifying your information to the program. Within a short period of time, you will be able to view your current credit report online or can have a hard copy of your credit report mailed directly to your home.
The Second Step
The second step in correctly reporting cases of identity theft is to report the identity theft to your local law enforcement agency so that there is a criminal record of the theft. Although it may be difficult for law enforcement to find a criminal based on a single instance of identity theft, most identity thieves steal information from a number of different people, increasing the chances that they will be caught. Having an open criminal case that contains all of the information about the identity theft and the accounts that were opened in your name will help in the prosecution of the criminal when the criminal is caught.
The Third Step
The third step that should be taken with cases of identity theft is to alert the credit bureaus that your personal information has been compromised. The credit bureaus can remove the fraudulent accounts from your credit report so that the fraudulent accounts do not hurt your credit score. The credit bureaus can also help you monitor your accounts in the future to make sure that no other accounts are opened in your name by the identity thieves. Following these three steps as soon as you believe your personal information has been compromised can help you regain your financial security more quickly and limit the amount of damage that can be caused by cases of identity theft.
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