Ways To Prove And Stop Identity Theft

When someone reports an identity theft crime, companies and agencies have no way of knowing whether it is the actual victim or the identity thief trying to acquire even more of your personal and financial information. Most companies have procedures in place to help them identify your true identity. However, it is up to identity theft victims to prove identity theft and to initiate measures to stop the crime from continuing.

How to Prove You’ve Been Victimized

The Fair Credit Reporting Act outlines the process that identity theft victims must follow when proving to creditors or other companies that an identity theft has been committed.

Step 1: Call the creditor’s fraud department and ask them for the mailing address and information requirements for submitting a creditor documentation request. For example, the creditor may require you to send a copy of the police report outlining the identity theft crime, or a copy of your driver’s license, passport, or other photo identification as proof of identity. This is standard procedure. They need to know that they are dealing with the identity theft victim and not the thief. Send any written correspondence certified mail, return receipt requested.

Step 2: Write the creditor documentation request letter. Explain the fraudulent transaction(s) that took place and ask to see the application, credit card slip, or other documents connected to the fraudulent activity. Send the letter certified mail, return receipt requested. Federal law requires creditors to provide this information at no charge.

Step 3: The law gives creditors 30 days from the receipt of a creditor documentation request to provide you with their records. Once you receive them, review the documents carefully for inadequacies that prove that you are the victim of identity theft. For example, the signature on the transaction is not yours, or the documents show a different address than yours.

Step 4: Once you’ve determined the unauthorized activity, write the creditor again and explain why the transaction was fraudulent. Provide documentation to support your claim. For example, you can prove that a signature is not your writing by providing copies of previously signed applications or other transaction records.

Step 5: When your identity theft dispute with a creditor is resolved, ask the creditor to send you a letter stating that the fraudulent debts have been discharged.

Step 6: Send a copy of the discharge letter to all three consumer credit reporting agencies: Equifax, TransUnion and Experian. Keep a copy of the discharge letter in your files.

Ways To Stop Identity Theft

Although you have contacted creditors to inform them of a fraudulent transaction, it doesn’t mean the identity thief can’t strike again. You need to take further action to protect your personal and financial information. The Federal Trade Commission recommends the following:

If anyone calls requesting your personal or financial information, don’t give it out, even if the person claims to be from a government agency, or a credit card company or financial institution where you have an account. Hang up and call the agency or company back using the phone number from the phone book or your monthly statement.

You might also consider enrolling in a credit monitoring service, which keeps constant watch over your credit report activity. Choose a service that monitors all three consumer credit reporting agencies.

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