So, You're an Identity Theft Victim

You’ve just found out that your identity has been stolen. You feel violated, confused, and possibly a little lightheaded. You have just been victimized by a nameless, faceless aggressor. They could be your neighbor, you mechanic, the cute cashier at the local Pick-N-Save, or some Bulgarian identity theft kingpin (this is what happened to me, by the way). Don’t feel bad. This is a traumatic experience.

Follow the steps outlined below and you’ll be on your way to identity theft recovery:

• Take a deep breath and relax. Keep a clear head. One of the greatest sayings of all time is, “And this too shall pass.”

• Call the cops. Hey, identity theft is a crime. Many people forget this step. Don’t be one of them. File a report immediately and get a copy for your records. You’re going to need it when you do the next step.

• Call each credit reporting agency and file a fraud alert on your credit report. Supposedly, you can call just one of the companies and they are required to contact the other two. I’m not taking any chances if my identity gets stolen. I’m calling all three. The contact number for each agency at the time of this writing (April 12, 2007) is as follows:

TransUnion - 1-800-680-7289
Experian - 1-888-397-3742
Equifax - 1-888-766-0008

Each of these companies will try to sell you their identity theft protection service. There are better services out there. In fact, I am currently working to get you a discount on services provided by the best identity theft protection company around. Check back for details.

• While you’re on the phone with the bureaus, get a copy of your credit reports. Review them for tampered or fraudulently opened accounts. Close them immediately. This is a true case of, “time is money.” The longer those accounts are open the more problems you’re likely to have.

• One more phone call: call up the fine folks at the FTC. You pay your taxes, get something in return. Set loose your Federal bull dogs. Your information will be added to a database accessible by other law enforcement agencies. A bit of information from your case may just break open an entire identity theft operation. You can contact them at (snappy phone number alert!) 1-877-ID-THEFT. If the letters are worn off your phone, the number works out to 1-877-438-4338.

Follow the above steps and you’ll be on the road to identity theft recovery. The majority of identity theft cases involve only one or two compromised accounts, usually a credit card. Closing that account and closely monitoring your credit reports for a while is usually all that’s required, especially if you are able to determine how your identity was stolen.

If your circumstances are grave and thousands of dollars have been racked up in your name you will probably want to put you problems in the hands of a competent attorney. Get one who specializes in identity theft.