Identity Theft

Share on Facebook

Identity theft occurs when your personally identifiable information, which includes your name, home address, phone numbers, birth date, credit card numbers, bank account numbers, and/or Social Security number are illegally used by another individual to obtain credit and/or personal goods for his or her benefit.

If you experience any of the following, you should consider reviewing your credit report, which is a compilation of your past and current borrowing and payment history:

1. Your wallet is lost or stolen.
2. Your bills from creditors or your bank statements are not delivered, or are delivered at times different than they are normally delivered.
3. Suspicious charges appear on one or more of your credit card bills.
4. Unauthorized withdrawals appear on one or more of your bank statements.
5. You receive a credit card, but you did not apply for it.
6. You apply for credit and are denied it, or your application for credit is approved, but with unfavorable conditions, such as a higher interest rate and additional fees.
7. You begin to receive phone calls or letters from bill collection agencies regarding goods or services you did not purchase.

Get a Copy of Your Credit Report

Under federal law, you have a right to request and obtain a free copy of your credit report from each of the three major consumer reporting agencies (Experian, TransUnion, and Equifax) once every 12 months. Consumer reporting agencies (also known as credit bureaus) gather and distribute information about how you pay your bills in order for creditors to evaluate the risk associated with giving you credit and to determine the conditions to be placed on the credit. This information is also used by potential employers in determining whether or not to hire an individual.

You may obtain your free credit reports by visiting the website, www.annualcreditreport.com, created by Experian, TransUnion and Equifax to comply with their obligation under the law to furnish annual free credit reports. Other websites that offer “free” credit reports are not associated with the annual free credit reports that you are entitled to receive under federal law. Beware that if you order your free credit reports through other websites, such as FreeCreditReport.com, FreeScore.com, CreditReport.com and Free3BureauCreditReport.com, you will begin a free trial membership with the credit monitoring company associated with that website. If you don’t cancel your membership within a prescribed time, you will be billed a fee for each month that you continue your membership.

You may also obtain your free annual credit reports by calling 877-322-8228, or by completing the Annual Credit Report Request Form and mailing it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Under federal law, you are also entitled to a free credit report if a creditor denies you credit, or a company denies you insurance or employment, if you request your credit report within 60 days of receiving notice of the denial of credit, insurance, or employment. The notice should include the name, address, and phone number of the consumer reporting company that furnished the information about you. You are also entitled to a free credit report if you are unemployed and plan to seek employment within 60 days, are on welfare, or your credit report is inaccurate because of fraud.

Review Your Credit Report

After you receive your credit reports, review them carefully. Look for accounts (including credit card, telephone services, line of credit, and loan accounts) that you did not open or apply for. Check the accuracy of your Social Security number, your name including your middle initial(s), your current and former addresses, and your current and former employers.

If you find any inaccurate or fraudulent information, you should contact the consumer reporting company that furnished the credit report and request that the fraudulent and/or inaccurate information be removed from your credit report. You may also want to contact the creditor with whom the fraudulent accounts were opened.

Proving Identity Theft

Even though you may have done everything necessary to have an outstanding credit rating, if you become the victim of identity theft, it is your burden and responsibility to prove that your identity has been stolen. Don’t be offended when you are treated as the villain instead of the victim because that is exactly what will happen. You may find that the personnel at the consumer reporting companies, the creditor’s personnel and the credit collector will first treat you as if you are trying to avoid paying the bills associated with questionable accounts. You, therefore, will have to prove that you are not trying to avoid paying the bills or debt in question, that you didn’t incur the debt, that you didn’t have anyone else incur the debt on your behalf, and that the debt in question is fraudulent. It may take months or years to get your good name and credit restored. Therefore, the sooner you start the process and report any questionable activity on your credit reports or on your credit card and bank statements, the sooner you will stop the fraudulent activity and restore your good name and good credit.

Recommended Resources

The Federal Trade Commission (FTC)
FTC provides a website  with detailed information to help consumers deter, detect and defend themselves against identity theft.

Identity theft toolkit: how to recover from and avoid identity theft
By John Lenardon
“If you are a victim of identity theft, this book… guides you through the steps necessary to restore your name and good credit rating.”

Identity theft: what it is, how to prevent it, and what to do if it happens to you 
By Rob Hamadi
This book offers helpful steps for identity-theft victims to recover their identities as well as effective preventative measures.

Stopping identity theft: 10 easy steps to security 
By Scott Mitic
This book covers topics that include: the credit report (including ordering, reading, and allowing third parties to check it)… and quick reactions to take if identity theft occurs.

Front Page Slideshow Image: