Most people are surprised to find that their identity has been stolen, and find that the road back to a good credit rating and a good name is more difficult than they could ever imagine. The first step to take on this long journey is to remember to document everything you do.

Some people prefer to use a spreadsheet to log the information trail. Be sure to keep track of the name of each individual that does something to correct an item that falls under the preview of the identity theft occurrence. The spreadsheet can be organized by labels such as Major Credit Cards, Department Store Credit Cards, Utility Accounts, Banks, Credit Reporting Agencies Errors, etc.

The Police Department should be the first contact in the steps taken to clear your name. Copies of the Police Report should be provided to the three credit reporting agencies, which are Equifax, Experian, and Trans Union. Ask each credit reporting agency to flag your credit files for fraud, and include a Victim's Statement that requires the agency to verify by telephone any credit applications that are being processed.

Give each credit reporting agency the Police Report number, and mail them a copy so that it can be included in your credit file. Order a copy of your credit file, and annotate when fraud alert notifications expire so that the alert can be renewed. Review each credit report for correctness, and then obtain new reports periodically to make sure that fraud is not recurring.

Notifications of fraud are always done both verbally and in writing. Every creditor on your credit report should be contacted, and older accounts that are outdated and no longer needed can be closed by consumer's request. The creditors that you know positively to be affected by the fraud should receive communications from the account holder via registered mail. Be sure to keep receipts for all expenses, because they will be required if reimbursement is approved in Court at a later date.

Be prepared to fill out fraud affidavits for the creditors that do not accept a Police Report or a written statement as proof that fraud has occurred under your name. Obtain new credit cards, and verify that a new credit report has the right account numbers for each card that is replaced due to fraud. Do not assume that information will be correct. Always double check the number on the new account, because human errors are likely to occur and you may get the same number.

Contact the Social Security Administration if a social security card has been stolen. This will protect your social security benefits from being stolen from you in the future. Again, log the name of the person you spoke with, and get an estimated date that the replacement card should arrive in the mail.

If a home invasion was part of the fraud, then a total inventory of the home should be conducted. Check for passports, military DD-214's, baptismal records, birth records, and marriage certificates. All of these items are legal documents that can be used to open checking accounts, or in some cases, serve as filler information for establishing credibility for a home mortgage loan.

All employers should be notified that fraud has occurred, as well as family, friends, and clergy, and anyone else that could be listed as reference on a loan. Ensure that all banking institutions establish a secret code that must be revealed before a loan can be processed, and most certainly before checks can be delivered to a separate address than what is listed under the person's name or account that was affected by the fraud.

 

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