We have talked about what identity theft is, and why it is bad. But what should I do if I am a victim of ID theft?
As soon as you find out that you are a victim of identity theft, you need to take a few immediate steps. First, call the fraud department of the companies where the fraud occurred – your bank, credit card issuer, etc. – to report the fraud and to freeze or close the accounts. Then, change the logins, passwords and PINS for your accounts.
Whoa… That’s a lot!
Wait, that’s just the beginning. Once you have done that, you should contact the credit bureaus – Equifax, Experian, and TransUnion – and set up a fraud alert. This means that lenders will be informed about your identity theft, and they can take extra precautions to verify the identity of anyone using your information to open new accounts or apply for loans. You should also get a copy of your credit report, and review it thoroughly for any errors. And if you find anything suspicious, be sure to lock or freeze your credit until you fix it.
Do I need to report my identity theft to someone in the government, or the police?
Excellent question, Sooper Cooper – that is the next step. You should report any identity theft to the Federal Trade Commission – which can easily be done online, at their website IdentityTheft.gov. They help with recovering from ID theft by providing information on the steps you need to take, the forms for filing any reports and disputing fraudulent charges, etc. Once this is done, you can go to your local police office with a copy of your FTC Identity Theft Report, and inform them about the crime.
Podcast: What to do if You Are a Victim of Identity Theft / ID Theft?
Fun, informative and concise episodes by a 10-year old, breaking down complex financial concepts in a way that kids and beginners can understand. Episodes cover personal finance topics like saving, investing, banking, credit cards, insurance, real estate, mortgage, retirement planning, 401k, stocks, bonds, income tax, and more, and are in the form of a conversation between a cowboy (a finance novice) and his friend, a stock broker. Making finance your friend, only at Easy Peasy Finance.
A little bit about me: I have been fascinated with the world of personal finance since I was 6! I love to read personal finance books, and keep myself updated on the latest by reading various personal finance magazines. My friends often ask me questions about finance because they find it complex and intimidating. That’s what inspired me to start my YouTube channel called Easy Peasy Finance when I was 8, and this podcast 2 years later.
What should you do if you are a victim of identity theft / ID theft? Do you need to report your identity theft to the government or the police? Find out everything you need to know.
Show notes and transcript at: https://www.easypeasyfinance.com/what-to-do-if-you-are-a-victim-of-identity-theft-id-theft/
