Have You been One of the 9 Million Consumers Affected by Identity Theft?

If you have had the misfortune of becoming a victim of identity theft then it is very important you take immediate steps to recover your identity and to repair any damages that have taken place to your good name and credit rating, otherwise you may be held responsible for any fees or charges.

Don’t forget identity theft is a crime, so one of the first things you will need to do is report this theft to the police, and get copies of the report in case you need to use it in the future to help you resolve your case, as it is can sometimes be difficult to prove identity theft has happened when you are trying to get reimbursement for any fraudulent charges on your bank account or credit cards.

Financial institutions such as banks and credit card companies will expect you to inform them of identity theft as soon as you realize it has happened (or they may discover it first and report it to you), and you should ensure this is as soon as possible especially if your credit cards or bank accounts have been affected.

If your accounts have not been affected but you know your identity has been compromised you must notify those accounts that you will believe may be under threat within at least two weeks to a month, and this will enable providers to take steps to prevent any fraudulent activity from taking place which will save everyone a lot of time and hassle.

You should also alert the main credit reference agencies that hold copies of your consumer credit files (Equifax, Experian and TransUnion) if your identity has been stolen, and they will be able to freeze your credit files and prevent anyone from fraudulently applying for credit in your name. Identity theft protection companies submit this information for you if you request them to do so.