How To Report Identity Theft In 3 Easy Steps!

If you believe or suspect that you may be becoming a victim of identity theft you must take a set of action steps instantly. The quicker you act, the greater your chances of limiting the damage an identity thief can cause. It only takes a matter of moments for a stolen credit card number to be used to make purchases online.

1. The Bank & Credit Card Provider. First things first, you should immediately contact your bank or credit card issuer. Your credit card or bank card issuer will be in a position to lock down your account as soon as you notify them that your details have been lost or stolen. The quickest way to do this is to call them over the phone. If you are unsure of the correct department, call your local branch and they'll put you right through. Some individuals may be under the impression that a lost card cannot be used without the pin, however you should remember that a pin is not required for telephone or online transactions.

2. Your Local Police Department. The second step is to contact the police department and file a report for lost or stolen cards. The police will take your details in full and provide you with a report reference number. Make certain you keep this number safe and make a note of the time and date you reported the loass to the police. Reporting the incident to the police will also help resolve any later issues of liability that may arise if transactions continue to be accrued to your account.

3. The Credit Referencing Bureaus. Next you should contact the credit referencing bureau's. In the US these are Experian, Equifax and TransUnion. These are the three primary agencies used, who are responsible for maintaining your credit files. Once you have notified them, they will be able to place a fraud alert against your account. This fraud alert will prompt any lender receiving an application in your name, to contact you on the details listed on your file, before making a decision. This helps to ensure that the application is authentic and being made by the named person and not an identity thief.

So for example, if a thief attempts to open a credit card account or take out a loan in your name, the lender will get in touch with you to check if the application has legitimately been submitted by you. A secondary effect of this is also that the damage to your credit file will be significantly limited as no further negative entries will be added. You must remember that speed is the key to controlling the potential damage that can be caused by losing a sensitive piece of information. You should consider all personal and private documents as compromised when lost, including your bank details, driving license, social security card, medical details, addresses and vehicle information. All of which can be of great use to an identity thief.

It's Important To Remember..

As long as you follow the above steps and notify the organisations listed here you will be doing all you possibly can to control and limit the damage a case of identity theft can have on your report. They may seem like obvious points of contact, but many people under the stress of identity theft do forget to make all three reports. It can take many years to recover from damaged credit reports due to identity theft, so it's really important that you take immediate action if you know, or even suspect somebody else is trying to use your details.