If have not done so already, you must contact the three CRAs to set up fraud alert and obtain copies of credit reports; this will assist you in countering any collection activity, and potentially prevent any new credit accounts taken out in your name.

First, place a fraud alert on your credit file. The two forms of fraud alerts include the “90-day”---used when information is first stolen, or at first signs of fraudulent activity, and the “extended” ---used to provide protection and notification of fraudulent activity for 7 years.

The fraud alert allows the CRAs to notify potential creditors of possible fraud during any application for credit or when new accounts are opened that require a copy of a credit report, and requires creditors to verify your identity before extending credit in your name. Keep in mind that this include accounts you are legitimately trying to open. The FTC suggests you include phone number(s) so creditors can contact you for verification. This does create delays in obtaining credit, but may be necessary considering the ramifications of identity theft. To get an extended fraud alert placed on your credit file, you will need to file a report with local, state, or federal authorities about the crime.

You are also entitled to up to 2 free credit reports from each of the CRAs. You should take advantage of these, and review your reports and different intervals for signs of fraudulent accounts or misuse of your credit or personal information. For more detail on how to identify fraud, see “Signs of Identity Theft”.

If you find that fraudulent activity has occurred through this review of your credit reports, you will need to dispute and close any associated accounts, leases, loans with the company from which they were generated. You will need a comprehensive “Identity Theft Report” to do so. See “Part IV: The Identity Theft Report” for details to construct a useful compilation to help you resolve any and all fraudulent activities in your name.

Finding out about the fraud is especially disheartening, and if you get to this point, it may become confusing and frustrating to clear your own name. Because of the personal nature of identity theft, keep in mind that you too will be under scrutiny for any new credit or financial transactions, any new reporting to your credit file, or any fraudulent activity related to the theft. Many victims have found this demoralizing and violating; but it is part of the process of separating yourself and actual identity from the one identity theft perpetrators have created.

References

Federal Trade Commission. DEFEND: Recover From Identity Theft

Federal Trade Commission: Facts for Consumers: Taking Charge: Fighting Back Against Identity Theft