In order to make sure you are protected, you need to be aware. Here is some information that will really help you. Get all the background information you need to make an informed decision. What is identity theft? How does it work? Here is some great inside information that is avilable to everyone. So read on, and go make an informed decision!
 
The time is now. Get the process going, and get your identity protected. It might just be one of the most important things you find you can do. Trick those identity theives and do not allow them to steal your great identity. Do not wait any longer.
 

Background on Identity Theft

To know how best to secure your identity, you first must understand how identity theft works and how identity thieves operate. Here is some background on identity theft and a step-by-step guide of what to do in the event your identity is stolen.

Identity Theft: What It Is & How It Happens

When another party obtains your personal data and uses it for unauthorized purposes, identity theft has been committed. Your personal data can include anything from your name, address, and social security number to the account numbers for your credit cards, savings accounts, etc. This information can fall into the wrong hands in any number of ways. Here are a few of the most common mediums for identity theft:

  • Rifling through trash. Thieves go through your trash, searching for any documents bearing personal information.
  • False pretexts. This method is also called "pretexting." Pretending to be you, thieves solicit personal information from your creditors.
  • Going phishing. Thieves barrage you with spam emails or pop-up ads, tricking you into thinking they are legitimate institutions in order to get your personal data.
  • Skimming. Thieves implant a special storage device on card readers that "skims" your information every time you swipe your debit or credit card.
  • Change of address. By completing a change-of-address form at the post office, thieves can have your mail routed to an address where your information can be stolen.
  • Stealing. Something with your personal information in it or on it is stolen, such as your wallet, purse, bills, checks, or even documents from your employer.

What to Do in the Event of Identity Theft

If you find yourself a victim of identity theft, you need to act quickly to secure your identity before further damage is done to your credit. The FTC has recommended that victims of identity theft follow the four steps outlined below. Be sure to keep a detailed record of your communication with all parties involved.

  1. Review and put a fraud alert on your credit report. By placing a fraud alert on your credit report, you are helping prevent more accounts from being opened in your name. To place a fraud alert, you only need to contact one of the three major credit bureaus. This credit bureau is then required to inform the other two bureaus of the fraud alert. Make sure you receive confirmation of the fraud alert from all three bureaus. The contact information for each bureau is listed below. After placing the fraud alert, you can request one free credit report from each bureau. Review it carefully for irregularities.
    • Experian - 1-888-EXPERIAN (397-3742)
    • Equifax - 1-800-525-6285
    • TransUnion - 1-800-680-7289
  2. Close all accounts you know or suspect the identity thief has tampered with or opened fraudulently. Call your creditors and speak with the fraud department. It is very important to also follow up with them in writing to send copies of supporting documents. When opening new accounts, change your PIN numbers and passwords. To dispute charges on existing accounts, ask for the creditor's fraud dispute form. For any new accounts the identity thief opened, you have two options. You can dispute the account directly with the company or file a report with the police and provide the creditor with a copy. Filing a report with the police and providing the company with a copy affords you more protection. Fill out an Identity Theft Report with the police, and the creditor will have to stop reporting fraudulent information on your credit report. Get verification in writing from the company that the dispute has been resolved.
  3. File a complaint with the FTC. The FTC allows you to fill out a complaint form online on their website or you can call the Identity Theft Hotline at 1-877-ID-THEFT. By filing a complaint with the FTC, you help law enforcement agencies and officials find and stop identity thieves. The FTC might refer you to other government agencies for further action and they can investigate creditors/companies for any potential violations. If you include a copy of your FTC complaint form with the police report you file, you are then entitled to certain rights, including: keeping fraudulent information off your credit report, making sure fraudulent debts do not come back on your credit report, prohibiting creditors from collecting fraudulent debts from you, and placing an extended fraud alert on your credit report.
  4. File a report with local police or the police in the location where the identity theft happened. Call the police department and say you would like to file an identity theft report. When you file the report, bring a copy of your FTC complaint form and copies of all supporting documents. Ask for a copy of the police's Identity Theft Report to support your disputes with your creditors.