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Over 19,000
people each
day fall
victim to
identity
theft
according to
studies done
in 2003.
Identity
theft
victims
spend an
average of
$1,400
out-of-pocket
and an
average of
600 hours
recovering
from this
crime.
There are
several
methods used
by identity
thieves to
steal your
identity.
These
methods
include:
Skimming:
Thieves
steal your
credit or
debit card
numbers by
using a
special
storage
device when
you use your
card.
Changing
your
address:
Thieves
divert your
billing
statements
to another
location by
fraudulently
completing a
“change of
address”
form. After
receiving
your billing
statements
an ID thief
has all the
information
they need to
begin
robbing you.
Phishing: ID
thieves send
you email
pretending
to be a
financial
institution
or other
company,
hoping you
will reveal
your
personal
information
by filling
out a short
form.
Dumpster
Diving: ID
thieves
rummage
through
garbage
looking for
bills or
other
documents
containing
your
financial
information.
Stealing: ID
Thieves
steal items
such as your
wallet or
purse, your
personal
records,
your mail,
etc.
There are
some helpful
steps you
can take
right away
if you think
your
identity has
been stolen.
If you
believe you
may have
fallen
victim to
any one of
these or
other
identity
theft
schemes the
first thing
you’ll want
to do is to
contact the
fraud
departments
of any one
of the three
major credit
bureaus -
Equifax,
Trans Union,
Experian. You
do not have
to contact
all three
because once
a fraud
alert is
placed on
your file
the other
credit
bureaus are
automatically
notified to
place fraud
alerts. You
will then
receive
credit
reports from
all three
major credit
bureaus.
The next
thing you
want to do
after
viewing your
credit
reports is
close the
account(s)
that you
believe has
been
tampered
with or
fraudulently
opened. In
either case
you can
request
copies of
all
documents
relating to
the
fraudulent
transactions
made or
accounts
opened using
your
personal
information.
If your
request is
made in
writing, in
most cases a
business or
creditor
must provide
you copies
of all
applications
and other
documents
relating to
accounts and
transactions
that have
resulted
from your
identity
theft.
Now it is
time to file
a report
with your
local police
department
or law
enforcement.
You may also
need to
report the
theft where
the crime
occurred if
it occurred
somewhere
other than
where you
live. You
will need
this report
to assist
you with
your
creditors
who may
require
proof of the
identity
theft so be
sure to give
law
enforcement
as much
information
and
documented
evidence as
possible. If
your local
police
department
refuses to
file a
report, try
your local
sheriffs
department
or state
police
agency.
Under the
Fair Credit
Reporting
Act this
report is
called an
“Identity
Theft
Report”. Be
sure to get
a copy of
this report
for your
records.
If you find
that a new
account has
been opened
in your name
by an
imposter you
will want to
immediately
contact
those
creditors by
phone and in
writing.
Thanks to
changes in
the law you
can now
prevent
businesses
from
reporting
fraudulent
accounts to
credit
bureaus. You
may be asked
by the
creditors to
fill out a
fraud
affidavit.
You can get
a
standard
fraud
affidavit
form from
the Federal
Trade
Commission’s
website. Ask
the business
or creditor
in writing
to provide
you and the
investigating
law
enforcement
agency with
all
documents
relating to
the
fraudulent
account.
When you
have
resolved the
matter with
the company
or creditor,
be sure to
ask for a
letter
stating that
the company
has closed
the account
in dispute
and has
discharged
the debts.
You’ll want
to keep this
letter in
your file in
case the
account
reappears on
your credit
report. You
can also
notify the
credit
bureaus
about the
fraudulent
account and
provide them
copies of
the letter.
After you
notify the
credit
bureaus
about the
fraudulent
accounts,
they are
required to
block this
account
information
from future
credit
reports.
They must
also notify
the credit
grantor of
the
fraudulent
account. You
can also
instruct the
credit
bureaus in
writing to
remove
inquiries
that have
been
generated
resulting
from the
fraudulent
access. You
may also
want to
request the
credit
bureaus
notify all
companies
and
creditors
who received
your credit
report in
the last six
months to
alert them
of the
dispute and
fraudulent
information.
You may want
to consider
filling a
complaint
with the
Federal
Trade
Commission
as well.
They keep an
identity
theft
database
used by law
enforcement.
Be sure to
document
everything
in writing
and keep
complete
notes of any
telephone
conversations
you have
regarding
this
situation.
You’ll want
to keep a
well
organized
file
documenting
the events.
Identity
theft is a
dirty
business but
with due
diligence
you can come
out of it
with your
credit and
reputation
in tact.
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