You CAN Fight Back Against Identity Theft

by Jason Forthofer

The Federal Trade Commission reports that more than 40 percent of their complaints involve some form of identity theft or identity fraud - their biggest source of consumer grievance. And while the number of victims has held steady at around nine million each year, the amount of damages continues to grow: identity theft amounted to more than fifty six billion dollars in damages during 2006 alone.

But the victims of identity theft are not alone in their struggle to retain their good credit. They are not defenseless or powerless to fight back, either. The 1998 Identity Theft and Assumption Deterrence Act, which made identity theft a felony offense, offers clear guidelines how to proceed.

The first step is to contact one of three credit bureaus

Consumers who suspect they've been a victim of identity theft should contact one of the three major credit reporting agencies - Equifax, Experian, or TransUnion - and request a fraud alert be placed on their credit report. The fraud alert is good for 90 days and protects the consumer from certain obligations to the fraudulent charges.

Any financial or credit accounts that reveal illegal tampering or fraudulent expenses should be immediately closed.

Next, contact the FTC.

The FTC is the official government entity for dealing with and assiting consumers through identity theft. The commission recently unveiled a new Identity Theft Affidavit, which streamlines the paperwork necessary to file for and obtain FTC recognition and protection. The affidavit is in turn used with many credit reporting and debt collection agencies that may be investigating charges and expenses created illegally by thieves. Consumers can download the affidavit form at www.ftc.gov/idtheft or by calling 1-877-ID-THEFT (438-4338).

Filing a report with local police.

Filling a police report is an important step that shouldn't be overlooked. When making the complaint, bring the FTC affidavit and any financial records with you as proof of the crime.

Local police agencies are sometimes slow to investigate identity theft because of its non-violent nature, but consumers should obtain a copy of the police report as a tool with which to reconcile complaints from bill collectors and debt collection agencies.

Contact all other necessary agencies.

For cases involving mail tampering or fraud, the Postal Inspection Service provides assistance beginning with a claim form available at http://postalinspectors.uspis.gov/forms/idtheft.aspx.

In cases where a Social Security card or number has been used illegally, the Social Security Administration offers help at https://www.socialsecurity.gov/oig/public_fraud_reporting/form.htm.

The IRS is available to help consumers straighten out stolen or illegally used tax information at 1-800-829-1040.

Finally, the nonprofit Identity Theft Resource Center offers free help to consumers, including a variety of strategies and planning methods to resolve identity theft damages as quickly as possible. Consumers should email them at victims@idtheftcenter.org or call its Victim Assistance Center at (858) 693-7935.

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Article submitted Wednesday, April 02, 2008 & read 95 times.

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