What to Do if You’re a Victim of Identity Theft
Identity theft is a serious issue. Knowing what to do and acting quickly is important if you suspect fraud.
Jennifer Streaks
In 2023, the Federal Trade Commission (FTC) received over a million reports of identity theft, making it the most reported type of complaint. This guide provides steps to protect yourself and recover if you are a victim.
Immediate Steps to Take
Identity theft often involves using your Social Security number to open new accounts, most commonly credit cards. Catching this quickly, requires monitoring your credit reports. Credit monitoring services can provide additional help.
Step 1: Report to the FTC and Local Police
First, report the identity theft to the FTC at IdentityTheft.gov. This will create an identity theft report and begin your recovery plan. This plan provides steps, tracks your progress, and provides templates.
Also, file a police report, bringing the following documents with you:
- A copy of your FTC Identity Theft Report
- A government-issued ID with a photo
- Proof of your address (mortgage statement, rental agreement, utility bill)
- Evidence of identity theft (bills, IRS notices, credit reports)
Step 2: Freeze or Alert Your Credit Reports
Contact the three major credit bureaus to request a fraud alert or credit freeze.
Photo of Alani Asis
A fraud alert requires lenders to verify your identity before issuing credit. A credit freeze restricts access to your credit report. A fraud alert lasts for a year, and a credit freeze stays in place until you lift it. Here’s how to contact them:
- Equifax: Equifax Fraud and Active Duty Alert
- Phone: (800) 525-6285
- Mail: Equifax Information Services LLC, P.O. Box 105069, Atlanta, GA 30348-5069
- Experian: Experian Fraud Alert Center
- Phone: 888-397-3742
- Mail: Experian, P.O. Box 9554, Allen, TX 75013
- TransUnion: Transunion Fraud Alert
- Phone: 800-916-8800
- Mail: Fraud Victim Assistance Department, P.O. Box 2000, Chester, PA 19016-2000
Step 3: Contact Financial Institutions
Notify the companies for any accounts impacted by fraud, including banks, credit cards, and insurance. If there’s fraudulent activity on your card, ask your issuer to close the account and issue a new card with a new number.
Dispute fraudulent charges with your financial institution to receive a refund, remembering there are time limits to dispute these errors. Normally, you have 60 days to dispute credit card charges.
Report Social Security number theft to the Social Security Administration’s hotline at 1-800-269-0271 or by filing a report at oig.ssa.gov/report.
Step 4: Dispute Unauthorized Activity with Credit Bureaus
Check your credit reports, available free at AnnualCreditReport.com, to identify unauthorized activity. Notify each credit bureau in writing of any inaccuracies, including supporting documentation.
Send your dispute letter to:
- Equifax: Equifax Information Services, LLC, P.O. Box 740256, Atlanta, GA 30374-0256
- Experian: P.O. Box 4500, Allen, TX 75013
- TransUnion: TransUnion Consumer Solutions, P.O. Box 2000, Chester, PA 19016
The credit bureaus have 30 days to respond after you mail your dispute letter. They will rectify the issue on your file and send a free credit report so you can examine the change.
Step 5: Secure Your Online Accounts
Protect your digital identity by:
- Activating multi-factor authentication (MFA)
- Updating your passwords. Use strong, unique passwords and change them immediately if compromised. Experts suggest changing passwords every three months.
Step 6: Ongoing Monitoring
People who have been victims of identity theft are more vulnerable to future attacks, so stay vigilant. Get a free credit report yearly and consider an identity theft protection service, which offers monitoring and assistance. Remember to change your passwords and monitor your accounts regularly for suspicious activity.
Repairing the Damage
Recovering from identity theft requires quick action. Report the fraud, fortify your online security, and monitor your credit report. You might need legal advice. In today’s digital environment, scams are increasing, so recognizing common schemes and red flags helps reduce risks.
How long it takes to recover from identity theft will vary, but it can take several months to resolve all issues and restore your credit.
