Immediately upon becoming aware that your identity has likely been stolen, it's easy to begin to panic. This is the wrong reaction and should be repressed. Calm yourself down and consider your options. You'll need a clear head to minimize the damage done to your finances and credit. Here are the steps to take, one at a time, to stop the theft from getting out of hand:
First, contact your local police department to report the crime. Give them all the information you can. They will likely refer you to the Federal Bureau of Investigation (FBI) and the Federal Trade Commission (FTC) to continue your report. File with both of those agencies as well. This allows the police on a local level to look into the matter while coordinating with the federal authorities. The FBI and FTC will likely want your local police's case number, which you should have received when you first reported to them.
In addition, reporting to the FTC (or their Consumer Alert website) will alert the three credit bureaus and put a Fraud Alert on your reports, which means that no new credit cards or other lines of credit can be obtained on your account for three months. Fraud Alerts are non-specific, however, and merely note to creditors that something illegal has happened involving your credit-whether that illegal activity otherwise involved you or not is left up to question. This is not a total blockade either and still allows a thief to use your existing credit.
Often the FTC requests that you change the passwords and access information for your accounts, but leave them open so they can monitor for thieves. While this seems like a good idea and it will help them catch the thief, it also leaves your accounts open to more fraud that you may or may not get reimbursed for. Most people opt to close their accounts and open new ones instead. It is your choice to do so and you are not required to cooperate with the FTC's investigation.
Now that you've gotten your financial life started back towards normal, it's time to get the rest of your identity secured as well. Contact the Department of Motor Vehicles for your state and request a new driver's license number, explaining the situation. Usually they will be happy to do this without any questions if you can present your original license and other proofs of your identity. Contact the Social Security Administration for the same purpose, to change your Social Security Number. This is trickier and often takes much more time, but it can also be done and is a good step towards renewing your broken life.
Now be prepared for a real battle to restore your identity, finances and life. Often, victims of identity theft find themselves battling for years over issues on their credit reports, bank accounts, and more.
Since identity theft continues to go on the rise as thieves utilize new technologies, the World Wide Web, and other techniques to find new victims, government and law enforcement have little chance of stopping the phenomenon. Repairing the effects of identity theft is difficult as well. It's up to individuals to take charge of their private information, be it their personal information or their bad credit history - and keep it safe from thieves, so that they will pass you by looking for easier targets. This includes family and friends as often, victims of identity theft find out that it's those closest to them that are doing the crime.
So take charge of your life and, if you find yourself a victim of identity theft, don't panic.
First, contact your local police department to report the crime. Give them all the information you can. They will likely refer you to the Federal Bureau of Investigation (FBI) and the Federal Trade Commission (FTC) to continue your report. File with both of those agencies as well. This allows the police on a local level to look into the matter while coordinating with the federal authorities. The FBI and FTC will likely want your local police's case number, which you should have received when you first reported to them.
In addition, reporting to the FTC (or their Consumer Alert website) will alert the three credit bureaus and put a Fraud Alert on your reports, which means that no new credit cards or other lines of credit can be obtained on your account for three months. Fraud Alerts are non-specific, however, and merely note to creditors that something illegal has happened involving your credit-whether that illegal activity otherwise involved you or not is left up to question. This is not a total blockade either and still allows a thief to use your existing credit.
Often the FTC requests that you change the passwords and access information for your accounts, but leave them open so they can monitor for thieves. While this seems like a good idea and it will help them catch the thief, it also leaves your accounts open to more fraud that you may or may not get reimbursed for. Most people opt to close their accounts and open new ones instead. It is your choice to do so and you are not required to cooperate with the FTC's investigation.
Now that you've gotten your financial life started back towards normal, it's time to get the rest of your identity secured as well. Contact the Department of Motor Vehicles for your state and request a new driver's license number, explaining the situation. Usually they will be happy to do this without any questions if you can present your original license and other proofs of your identity. Contact the Social Security Administration for the same purpose, to change your Social Security Number. This is trickier and often takes much more time, but it can also be done and is a good step towards renewing your broken life.
Now be prepared for a real battle to restore your identity, finances and life. Often, victims of identity theft find themselves battling for years over issues on their credit reports, bank accounts, and more.
Since identity theft continues to go on the rise as thieves utilize new technologies, the World Wide Web, and other techniques to find new victims, government and law enforcement have little chance of stopping the phenomenon. Repairing the effects of identity theft is difficult as well. It's up to individuals to take charge of their private information, be it their personal information or their bad credit history - and keep it safe from thieves, so that they will pass you by looking for easier targets. This includes family and friends as often, victims of identity theft find out that it's those closest to them that are doing the crime.
So take charge of your life and, if you find yourself a victim of identity theft, don't panic.
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