How Do I Avoid Identity Theft

Posts Tagged ‘Identity Theft Prevention’

Identity theft can be one of our worst nightmares, since the stolen identity is always used for illegal purposes. Apart from having your identity stolen from you, you could also become a target of litigation from parties hurt by the actions of the identity thief.

So what should you do if you ever become a target of identity theft? This article provides information on what to do after you discover that your identity has been stolen.

What To Do After Identity Theft
Here are some steps to take once you discover your security has been compromised by an identity thief.

1) Let The Credit Rating Agencies Know
The credit rating agencies should be told about the theft as soon as possible. Creditors will need to contact you before they give loans to anyone approaching them for credit on your behalf. Try to get the fraud alert extended to seven years from the current 90 days. File all credit reports you receive, since it is crucial as evidence to show identity theft.

2) Keep An Eye On Credit Reports
Keep monitoring credit reports, so fraudulent accounts in your name are not opened. Keep reviewing your credit reports and look into the credit companies you have not had any dealings with.

3) Close Dubious Accounts
If you feel that some accounts have been opened by the identity thief, or there has been unauthorized access to the accounts, close them. Have the credit card companies and your bank notified by mail, so that you have a record stating that they were formally notified.

4) Opening New Accounts
Use new personal identification numbers and passwords if you wish to open new accounts. Ensure that the passwords are such that someone else cannot guess them.

5) Stopping Doubtful Transactions
If you feel that any transaction related to your account or credit card number is fraudulent, use fraud dispute forms available at the bank to state your claim. If you want the bank to consider your request, you need to prove that you have been a victim of identity theft. You can submit a copy of the police report or submit proof that your signatures have been forged.

6) Report To The Police
Report the identity fraud to the police as soon as possible. Get an affidavit from the police station to prove the crime, since banks and credit card companies will ask for the affidavit to be submitted before they take action to close accounts that have been compromised.

The above steps will help you close fraudulent accounts opened in your name and keep further fraud from being committed in your name. Report the identity fraud as soon as you discover it to the proper authorities.