How to Report Identity Theft?

When trying to get your identity back it is sometimes tricky to remember what comes first and what exactly you are supposed to do. Reporting the theft should be among your top concerns. Here is a short list of how you are to report identity theft.

Contact the financial institutions immediately

Have your bank and card issuers cancel both your credit cards and the debit/ATM ones that carry a Visa or MasterCard logo. The latter use funds from your checking account, so ask them to check whether it could have been tampered with. Ask for a bank statement and dispute any recent transactions you are not aware of. The bank will reimburse you for your losses, but only after a thorough investigation that may take between one and two months. 

Contact the local police department

File a complaint with the local police. Get a report number and, once their report is done, make sure they send you a printed copy. Most, if not all companies that you will report identity theft with will ask you for a copy. Make sure you keep the original—it’s easy to misplace documents when you’re in a stressful situation.

Put out a fraud alert with a credit reporting agency

Call any of the three agencies (Experian, Equifax or TransUnion) and file a credit fraud alert on your accounts. This basically encourages businesses to take further precautions in dealing with someone claiming to be you. It is a common step people do to report identity theft and puts you under radar for seven years, as a victim of identity fraud.

Change your locks

Even if it’s highly likely that whoever stole your purse was in for a quick dollar and won’t try anything further, remember that they know where you live. And if you had the keys in your purse, it can pay up to try to be safe than sorry. Change your locks and install an alarm system, if you don’t already have one.

Do you have identity theft coverage?

A lot of life insurances or house coverage policies will also cover cases of identity frau. Once you are done with the above steps, it would be good to report identity theft with your insurance provider. Don’t expect much, though—these policies aren’t of much help, if any.

Last, but not least, take care of the tiny details. It would be a good idea, for example, to cancel all your membership cards, even if they don’t come with credit lines. The thieves might be, for instance, renting movies or enjoying free dinners on your behalf.