What Should You do If you Have Become a Victim of Identity Theft
No one is immune to identity theft and fraud; this is why it is extremely important to know what to do if you have become a victim of it. Besides protecting yourself from identity theft and fraud and reducing your chances of becoming prey for criminals and hackers, you should also be aware of what you should do if you find that your identity or financial information has become compromised.
Having a plan of action once you know that you are a victim of identity theft or fraud is a good way to minimize the damages that this type of crime can perpetrate. For instance, a people that is not aware that their identity has been used to commit a crime can be rejected for a mortgage, passed aside for a job or find out that they owe thousands upon thousands of dollars in past charges. Here are some tips on creating a plan of action once your personal and financial information has been compromised.
First off understand your rights, each state has different laws pertaining to identity theft, make sure you know what you can do and how you can protect yourself if you are a victim. You should contact the Federal Trade Commission to learn more.
It is also important to go down to your local police station where you reside and fill out a police report on the incident. While your local police will usually not be able to find the perpetrators, they will be able to create a legitimate record for you so that other agencies have legal documents based upon the incident.
Contact your credit card companies and banks that you do business with. This is extremely important. If your wallet has been stolen, immediately contact your service providers to deactivate the cards in question and to notify any businesses where the card is being used. Sometimes, a person that has stolen a wallet or purse will be picked up by police when trying to use a stolen or lost credit card.
You should also contact the three credit reporting agencies which are Equifax, Experian and Trans Union and notify them that possible identity theft or fraud has taken place. They will put a red flag on your account which will require the credit card or loan service to contact you directly to confirm identity before approving any new loans.
