Identity Theft Reporting.

How to report Identity Fraud, the Federal Trade Comission's way.

Identity Theft Reporting must be done immediately upon discovery.

The Federal Trade Commission, the Government identity theft 'watchdog agency' recommends that any victim or suspected victim of idtheft do the following 4 things.

1. Contact the fraud department of one of the three credit reporting companies, Experian, Equifax, and TransUnion, to place a fraud alert on your file. They in turn will notify the other two for you. This alert forces creditors to call you before extending any new credit. Leave a phone number where you can be reached for most of the day.

• Equifax: P.O. Box 740250, Atlanta, GA 30374- 0241.
  Report fraud: Call (888) 766-0008, TDD: (800) 255-0056
  Web: http://www.equifax.com/
• Experian: PO Box 9532, Allen TX, 75013
  Report fraud: Call (888) EXPERIAN (888-397-3742)
  TDD: Relay to number above is available.
  Web: www.experian.com/fraud
• TransUnion: P.O. Box 6790, Fullerton, CA 92834-6790.
  Report fraud: (800) 680-7289, TDD: (877) 553-7803
  E-mail, fraud victims use only: fvad@transunion.com
  Web: http://www.transunion.com/

Remember, identity theft reporting only has to be done with one of the credit bureaus. The initial fraud alert is only good for 90 days. You may contact the bureaus for a 7-year extension, as soon as you receive a "notice of your rights as an identity theft victim" from them. Exercise one of these rights and request a copy of your credit report from each consumer agency.

You are entitled to a free credit report if:

• You or your child are victims of identity theft
• You have been denied credit
• You are currently receiving welfare benefits
• You are unemployed and are actively seeking employment.

Review each report carefully and report all fraudulent and incorrect entries to both the credit bureaus and the creditors.

In addition, instruct the credit bureaus in writing to remove all inquiries that have been generated due to the fraudulent use, and ask that they notify anyone who received your credit report in the last six months to the disputed and erroneous information. This rule extends to two years for employers.

“An alert on your existing credit file is only as good as the potential creditor who pays attention to it. New accounts may still be opened in your name if these alerts are overlooked. Here's where "regular monitoring" of your credit report comes in.”

2. Close all accounts that were tampered with

3. File a police report with your local law enforcement agency or with the responsible agency if the crime occurred outside of their jurisdiction. This will later serve as proof to your creditors. You may want to provide law enforcement with a notarized copy of the Federal Trade Commission’s ID Theft Affidavit, which is available from www.consumer.gov/idtheft or HERE.

4. Finally, you should file a written complaint, (Using the Affidavit above) with the FTC at this address: The Consumer Response Center, FTC, 600 Pennsylvania Avenue, N.W., Washington, DC 20580. You may also call (877) 428-4338 -or visit them online at: www.consumer.gov/idtheft to file your complaint.

So, you have followed all the identity fraud reporting instructions, what's left to do?

Monitor Your Credit Report
Unfortunately, not because you placed an alert on your file, a potential creditor will pay attention to it. New accounts may still be opened in your name. Here's where "regular monitoring" of your credit report comes in. This is the only way a person may stay fairly current. We use fairly because at this point in time, there is no real-time monitoring available and therefore the information in your file is always behind. Please keep this in mind when you set up your monitoring schedule.

Identity Restoration
This may be the last but it is certainly not the least important step. Identity theft can be a traumatic experience. Added to that is the fact that the repercussions from it may be ongoing. The costs, both financial and in your time may be prohibitive and even out of the question. What do you do? Here's where professional assistance is needed. Of course you can do it on your own if you can get all the ducks in a row. That will take some research however, and you may still miss a duck or two. Why chance it?