What to Do If Your Identity Is Stolen: A Step-by-Step Guide

Identity theft is a serious issue that can disrupt your life, from financial fraud to damaged credit. If you suspect your identity has been stolen, acting quickly can minimize the harm. Here’s a step-by-step guide to help you regain control.

1. Stay Calm and Assess the Situation

The first step is to understand the scope of the problem. Check for any unusual activity in your accounts, such as unauthorized charges, unfamiliar accounts, or changes to your personal information.

What to Do:

Review your recent bank and credit card statements.
Check your email for any suspicious notifications, such as password reset requests.
Log into your accounts to verify recent activity.

2. Place a Fraud Alert on Your Credit Report

A fraud alert notifies creditors to take extra steps to verify your identity before opening new accounts.

How to Do It:

Contact one of the three major credit bureaus (Experian, TransUnion, or Equifax) to request a fraud alert.
The bureau you contact will notify the other two bureaus on your behalf.

Tip: A fraud alert is free and lasts for one year.

3. Freeze Your Credit

A credit freeze prevents lenders from accessing your credit report, making it nearly impossible for anyone to open new accounts in your name.

What to Do:

Contact all three credit bureaus individually to request a freeze.
You can temporarily lift the freeze when needed.

Tip: Credit freezes are free and can be done online or over the phone.

4. Report the Theft to the Federal Trade Commission (FTC)

The FTC helps create an official record of the identity theft and provides you with a recovery plan.

How to Do It:

Visit IdentityTheft.gov.
Complete the identity theft affidavit and follow the personalized recovery plan provided.

Tip: Save a copy of the affidavit for your records.

5. File a Police Report

Having a police report on file can help when dealing with creditors, banks, and other organizations to resolve disputes.

What to Do:

Contact your local police department to file a report.
Bring a copy of your FTC affidavit, proof of identity, and any evidence of theft (e.g., fraudulent statements or collection notices).

Tip: Ask for a copy of the police report for your records.

6. Notify Your Financial Institutions

Inform your bank, credit card companies, and any other financial institutions of the identity theft.

What to Do:

Report unauthorized charges and request that your accounts be secured or closed.
Request new account numbers, cards, and PINs if necessary.

Tip: Monitor your statements closely for any additional unauthorized activity.

7. Dispute Fraudulent Charges

If your identity has been used to make unauthorized purchases or open accounts, you’ll need to dispute the charges.

What to Do:

Contact the creditors or businesses where the fraudulent activity occurred.
Provide copies of your FTC affidavit and police report as proof of identity theft.

Tip: Keep records of all communications with creditors.

8. Monitor Your Identity Going Forward

After resolving the immediate issues, continue to monitor your identity for signs of fraud.

What to Do:

Sign up for identity theft protection services to track your credit, Social Security number, and other sensitive information.
Regularly check your credit reports for changes or new accounts.

Tip: Use free tools like AnnualCreditReport.com to check your credit reports from all three bureaus.

9. Update Your Security Practices

Strengthen your online and offline security to prevent future incidents of identity theft.

What to Do:

Use strong, unique passwords for all accounts and enable two-factor authentication.
Shred sensitive documents before disposing of them.
Be cautious about sharing personal information online or over the phone.

Conclusion

Recovering from identity theft can be stressful, but acting quickly and following these steps can help minimize the damage. By staying vigilant and adopting better security practices, you can reduce the risk of future identity theft and regain peace of mind.