How Credit Agencies Help with Identity Theft

The three credit reporting agencies — Experian, Equifax, and TransUnion — can be great assets in helping consumers prevent identity theft or dealing with the consequences of an identity theft crime.

Credit agencies help consumers deal with identity theft

All three credit reporting agencies offer help to consumers with every facet of identity theft: from providing information about how to prevent identity theft and guidance on determining if you’ve been a victim, to working with you to restore your credit history if your identity has been stolen. Their services range from helpful tips to useful products in the fight against this crime. Here’s a sampling of what the credit bureaus offer consumers:

Monitor your credit reports regularly to prevent identity theft

Whether you want to monitor your credit report from a specific agency or all three at the same time, each credit agency offers products to make this simple and affordable. When assessing whether you have become a victim of identity theft, checking your report is a vital component in order to see if there are any new, unauthorized accounts recorded in your name which may have been opened by an identity thief. And if you suspect fraud, each credit bureau allows you to correct or remove erroneous information (see individual credit agency websites for detailed information.)

Place a fraud alert on your account if you suspect identity theft

If you suspect that an identity thief has acquired or used your personal financial information, you can contact any credit agency to put a 90-day fraud alert in your credit file. Whichever agency you make your request through will notify the other two reporting agencies on your behalf. The alert usually appears in your credit file within 48 hours of the initial request. When you have the alert placed on your file you’ll be eligible to receive a free credit report to check for any fraudulent activity.

With the fraud alert in place, lenders and credit card companies will take the extra precaution of checking with you to see if you have authorized any new accounts, increases to your credit limit, or requests for a new card on an existing account.

If you’ve filed a police report about identity theft, you can request an extended fraud alert which lasts for seven years and grants you two additional copies of your credit report for review. Additionally, your name will be removed from prescreened credit card or insurance offers for five years.

Contacting credit reporting agencies

If you’d like to find out more about how credit reporting agencies can help you deal with identity theft issues, you can call them or go to their websites at:

Equifax: www.equifax.com - 1-800-525-6285

Experian: www.experian.com - 1-888-397-3742

TransUnion: www.transunion.com -1-800-680-7289

Identity theft protection services:

• IdentityTruth
- IdentityTruth protects your entire identity, going beyond credit. Advanced technology analyzes data, pinpoints potential fraud, and helps you minimize your risk.


• LifeLock Identity Theft Services
- LifeLock provides a proactive identity theft service, specializing in the prevention of identity theft rather than the reporting of it.


• TrustedID
- TrustedID’s® mission is to proactively protect consumers against identity theft, especially as identity theft is the fastest growing crime in the United States. Our innovative flagship product – IDFreeze® - stops identity theft before it ever happens.