What do you do when you learn that you have been a victim of Identity Theft?

1. The very first step to take in Reporting Identity Theft is to contact the fraud departments of any one of the three major credit bureaus and a place a fraud alert on your credit file. This fraud alert would make creditors to contact you before further opening any new accounts or making any new changes to your existing account. The fraud alert departments of other two credit bureaus will automatically update your account with them and place your account under fraud alert as well. After that all the three credit bureaus will send you free credit reports, which you are entitled to get for free. The initial fraud alert will stay in your file for at least 90 days.
   
   
2. The second step you are to take is to close all the accounts you know or you believe have been fraudulently tampered with or opened without your knowledge. File the ID Theft Affidavit (http://www.ftc.gov/bcp/conline/pubs/credit/affidavit.pdf ) while disputing new unauthorized accounts.
   
   
3. File a complaint with the Police.
   
   
4. Make sure to submit the copy of the report to all your creditors and all the other agencies that may require the proof of crime.
   
   
5. File a complaint with the FTC, which maintains the database of Identity Theft victims which is used by many law enforcement agencies for investigative purposes.

Know your rights after Reporting Identity Theft:

• You have the right to ask that nationwide consumer reporting agencies place “fraud alerts” in your file to let potential creditors and others know that you may be a victim of identity theft.
  
  
• You have the right to free copies of the information in your file
  
  
• You have the right to obtain documents relating to fraudulent transactions made or accounts opened using your personal information.
  
  
• You have the right to obtain information from a debt collector.
  
  
• If you believe information in your file results from identity theft, you have the right to ask that a consumer reporting agency block that information from your file.
  
  
• You also may prevent businesses from reporting information about you to consumer reporting agencies if you believe the information is a result of identity theft.

After Reporting Identity Theft, do not pay any bill or potion of any bill that you believe is a result of a fraud. Do not cover for any checks that were written or cashed fraudulently. Make sure you do not file for bankruptcy. Identity theft will not affect your credit rating permanently. There can be no legal action be taken against you. If any merchant, financial company or collection agency suggests otherwise, restate your willingness to cooperate, but don't allow yourself to be coerced into paying fraudulent bills. Report such attempts to government regulators immediately.