You will need to close all accounts that have been misused, and any new accounts, leases, or collection accounts that have been opened fraudulently using your information. If your financial institutions were previously unwilling to review your claims or refused to close your accounts when you first noticed misuse, provide them your Identity Theft Report and any information they request demonstrating fraud (like your actual signature, a photocopy of your photo ID, etc.). Also, they may have affidavits or other documentation that represent your legal declaration of being an identity theft victim. You need to complete them for the company to close these accounts. Save any new information gleaned from these closures and resolved incidents and add them to the Identity Theft Report.

As you close each of these accounts, make sure to get a letter stating that the accounts are closed, and that you are absolved from responsibility for them or their debts. The letters can also be compiled as part of your report, or to counter collection or credit reporting related to the fraudulent accounts.

The FTC also notes some specific steps for identity theft resolution dependent on the type of fraudulent action that took place:

• Check or Paper-based Bank Fraud: Most state laws hold banks liable in paper-based bank fraud activities. If you find checks fraudulently transacted with your account (either checks stolen from you or counterfeits), close the account immediately using your Identity Theft Report, and have their check verification company notified. Also follow up with the business that accepted the fraudulent checks so they are aware of your identity theft, and to ensure they do not attempt collection activity.

If you originate a check, and it gets rejected by a business, the codes at the bottom of your checks, your driver’s license number or other identification may be being used for fraud. Refer to the business’s check verification company to find out which item is being used; you can then follow up with the DMV or appropriate agency (for a new identification number) and/or your bank (to close and issue you a new account).

• Electronic Withdrawals: The Federal Electronic Funds Act allows 60 days from the time the bank account statement in which the error appears for you to report fraudulent withdrawals. If you discover and report the loss it within 2 days after the withdrawal has taken place, it is limited to $50 in losses; if over 2 days but within 60 days, you lose the first $500 of the amount withdrawn. If over 60 days, you will lose any portion of the amount after 60 days.

• New Accounts in your name: You can contact Chex Systems to find out where the fraudulent accounts are located and then follow the process to get them closed (start with Identity Theft Resolution, Part I).

• Credit Cards: Both major credit card companies limit your liability for fraudulent charges and other credit card transactions to $50.


References
Federal Trade Commission. DEFEND: Recover From Identity Theft

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

Privacy Rights Clearinghouse. How Many Identity Theft Victims are There? What is the Impact on Victims?