What To Do If Your Identity Is Stolen
Identity theft can happen to anyone. If you suspect you’ve become a victim, you need to act fast. Time is working against you, and the longer the fraud is allowed to continue, the worse the potential damage can become. But don’t panic, there is a way out.
Did You Know? 2.6 million cases of fraud were reported to the FTC in 2023, and over $10 billion was reported lost. This was up one billion dollars from 2022. 1
Of course, each situation is unique, so your incident might require additional steps. Generally speaking, though, here’s what to do if your identity has been stolen.
- Contact the company behind the incident: Speak to the fraud team (if they have one) to resolve the matter. Alternatively, ask them to freeze any impacted accounts and change all your login information.
- File a fraud alert with credit reporting bureaus: A fraud alert indicates to creditors and lenders that there is suspected criminal activity associated with the report and that they should scrutinize requests more closely than they typically would.
- Report your identity theft to the FTC: Use the online portal to enter the incident. Include as much detail as possible, as the FTC will generate a personalized recovery plan for you.
- Speak to your local authorities: Provide them with the information from your FTC plan so they can put together a case file, and you don’t have to repeat yourself.
Did You Know? In 2024, credit card fraud was the most common type of identity theft in the first three quarters of the year. 1 All the more reason why you should invest in identity theft protection services with credit monitoring.
Then you’re going to want to get in contact with the credit reporting bureaus and tell them to place a fraud alert on your credit reports. A fraud alert indicates to creditors and lenders that there is suspected criminal activity associated with the report and that they should scrutinize requests more closely than they typically would.
Next, report your identity theft to the Federal Trade Commission. Using their online portal, you can report the exact type of identity theft that occurred and details of your incident. Based on this information, the FTC will generate an Identity Theft Report and a personalized recovery plan for you. You’ll need this report moving forward, so hang on to it.
Depending on your circumstances, you might want to contact local authorities to inform them what happened. They’ll use the information in your FTC Identity Theft Report to start building their case, and they might require additional information from you to bring the fraudster to justice.
But we’re not done yet. Because you were the victim of identity theft once, that means you’re more likely to become a victim again. There’s no telling the amount of information the fraudster collected, or what they might have already done with it. You’re going to need to be vigilant for the next few months, or even the next few years.
Did You Know? About 20 percent of individuals who have become the victim of identity theft become victims again.
You’ll have to close all the new accounts opened in your name, and remove any fraudulent charges. This process can be painstaking, so make sure to take meticulous notes during this period. You’ll want a record of who you talked to, when you talked to them, and what they told you.
You’re also going to need to correct your credit report. With your FTC report in hand, contact the credit monitoring bureaus. After a review process, they’ll be able to remove fraudulent activity from your report. You might also consider placing an extended credit freeze on your file to prevent future fraud.
Finally, you’re going to want to be diligent about checking your credit scores, credit reports, and financial accounts. The latter you should check daily, and the former items you should check at least once a month for a full year.
Identity theft is a huge headache, but overcoming the damage isn’t insurmountable. Take a deep breath. You’ve got this.
Identity theft protection is critically important in today’s world, but acknowledging and preparing for the worst is arguably more important. By selecting a service that offers robust restoration services, you can rest easy knowing that even if the worst comes to pass, you’ll be protected.
Still not sure which service suits you? Our identity theft buyer’s guide has lots more info on how all these different identity theft protection plans work.
Start the Recovery Process
Identity theft is a huge headache, but overcoming the damage isn’t insurmountable. Especially if you have help from identity theft protection services.
By selecting a service that offers robust restoration services, you can rest easy knowing that even if the worst comes to pass, you’ll be protected. In our testing, Identity Guard provided the best experience with its White Glove Fraud Resolution service. Instead of writing yourself a list of companies to contact, Identity Guard will do all the hard work on your behalf. However you will need to take out Identity Guard’s top plan for this level of service.
If that doesn’t work for you, there are several excellent alternatives from Aura, LifeLock, IdentityForce, ID Watchdog, and Zander that can help get your life back on track.
Features of Identity Theft Restoration Services
Here are some other features of identity theft restoration services that you should look for when shopping for a plan.
