How to Recover from Identity Theft

If your identity has been stolen and used by an identity thief, you now face the daunting task of restoring your credit history. Fortunately, there are several tools available to help you recover your good credit rating as quickly as possible.

Consumer rights for identity theft victims

Thanks to the Fair and Accurate Credit Transactions Act (FACT Act) passed by Congress in 2003, you have specific rights designed to help you recover as quickly as possible from the effects of identity theft, whether you are undoubtedly a victim or even if you just suspect you are.

Credit bureau fraud alerts

First and foremost, you have the right to ask the three credit bureaus — Experian, Equifax, and TransUnion — to place a fraud alert in your credit file simply by providing them with proof of your identity. (You only need to ask for a fraud alert with one credit bureau; that bureau will report it to the other two agencies on your behalf.) The fraud alert will inform your potential creditors that you may be a victim of identity theft. The creditors, in turn, will contact you directly before they open a new account in your name or make any changes to your existing accounts.

Free credit report for review

When you request that a fraud alert be placed in your credit file, you can ask for a free copy of your credit report from the credit bureau. Reviewing your report will allow you to detect any unauthorized or unknown accounts in your file, or any changes to your existing accounts — any of which may be the result of identity theft. If you discover fraudulent activity, you can submit reports to correct or remove the fraudulent information with any credit bureau.

Removing and blocking fraudulent information from your credit report

The FACT Act also grants identity theft victims the right to request the three credit bureaus remove any fraudulent information from your credit report. This may require that you provide extensive evidence about the fraud, including a police report, to your creditors so be sure to keep track of every communication and every piece of documentation related to the theft. You also have the right to ask the credit bureaus to block any negative reports to your credit file from companies where the identity thief opened accounts in your name.

Obtaining documents about fraudulent transactions

Another right accorded to victims of identity theft through the FACT Act is the right to obtain documents which detail fraudulent transactions made to your bank, credit card, or other accounts. You can also obtain copies of the documents identity thieves used to open accounts using your personal or financial information.

Getting information from debt collectors

Because of the FACT Act, identity theft victims can also obtain copies of any information a debt collector has about you or your accounts if you believe that the debt in question was incurred by the identity theft. The information you can receive includes the name of the creditor in question and the amount of the debt.

For complete information about the FACT Act and your consumer rights in cases of identity theft, go to www.consumer.gov/idtheft.

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.