Last weekend two close friends of mine were added to the ranks of the ever-growing list of identity theft victims. Their car was broken into while they were nearby at their's daughter's softball game. The thieves broke two windows and stole the purse, wallets and other personal identifying information that was in the car.
They filed a police report and then rushed to take the necessary steps to block the crooks from using any of their personal identifying information...but Julie was too too late. As diligently as she worked to lock up their identities, and contact their financial institutions -it wasn't nearly quick enough to beat the thieves to their money.
The thieves were able to make several withdrawals from Julie's savings account at an ATM machine totaling about $500.00. She tried to contact her bank immediately after the theft; but unfortunately, the bank had no emergency contact number allowing her to report it the fraud department -on a weekend. I wonder if thieves know they have an entire weekend to empty out accounts, before the account can be closed?
Over the last few days Julie has spent a vast amount of hours on the phone and running around notifying creditors, financial institutions, cell phone, insurance and utility companies of the theft. Closing accounts, obtaining new drivers licenses, notifying the Social Security department, opening new accounts, changing passwords, and even paying to have her auto keyless key codes to her car changed. She's had to notify automatic withdrawal account holders that withdraw payments for her mortgage and other accounts -that her account numbers have all been changed!
In her own words...
I lay awake at night wondering if I've done all I can to prevent further intrusions. This is a nightmare!
Just a nightmare! It's one I can't seem to find my way out of... When this crime strikes -you are initially in shock...you can't believe it's happened to you. Then a picture suddenly emerges and all the steps you now need to take, start rushing through your mind like a tidal wave. Ultimately, you not only feel angry, stunned and fearful of what could happen next, you also feel extremely violated, then -overwhelmed."
With continual reports of data breaches and the rapid growth of identity theft (estimated 1 every 3 seconds); odds are pretty good a thief will eventually find you. But if you take proactive steps to protect your identity -you don't need to worry about it. I'm frequently asked
"What can I do to protect myself?" My answer?
Be proactive! Do all you can to prevent it! See prior blog: Top Five Steps to protect your identity
Anyone that has been a victim of identity theft will tell you that the biggest problem is the overwhelming amount of time and frustrations involved trying to clean up the mess left behind once it occurs. The Federal Trade Commission says it takes anywhere between 170-300 hours to fix problems from this crime -often taking months or years to clean up-only to find it happens again!
If you suddenly find you are a victim -what do you do, where do you turn?
IMMEDIATELY report the fraud (or theft of information) to any one of the nationwide consumer reporting companies. Advise them you need to place a fraud alert on your credit reports. Fraud alerts can help prevent an identity thief from opening any more accounts in your name. The company you call is required to contact the other two, which will place an alert on their versions of your report, too.
•Equifax: 1-800-525-6285;
www.equifax.com
•Experian: 1-888-EXPERIAN (1-888-397-3742);
www.experian.com
•TransUnion: 1-800-680-7289;
www.transunion.com
In addition to placing the fraud alert, the three consumer reporting bureaus will send you free copies of your credit reports.
Contact the security or fraud department of each company where you know, or believe, accounts have or could be tampered with or opened fraudulently. Close the accounts. Follow up in writing, and include copies (NOT originals) of supporting documents. It's important to notify credit card companies and banks in writing. Send your letters by certified mail, return receipt requested, so you can document what the company received and when. Keep a file of your correspondence and enclosures.
When you open new accounts, use new Personal Identification Numbers (PINs) and passwords. Avoid using easily available information like your mother's maiden name, your birth date, the last four digits of your Social Security number or your phone number, pet's names or a series of consecutive numbers.
File a police report. Contact the local police or the police in the community where the identity theft took place to file a report. Get a copy of the police report or, at the very least, the number of the report. It can help you deal with creditors who need proof of the crime. If the police are reluctant to take your report, ask to file a "Miscellaneous Incidents" report, or try another jurisdiction, like your state police. You also can check with your state Attorney General's office to find out if state law requires the police to take reports for identity theft.
To make certain that you do not become responsible for any debts incurred by an identity thief, you must prove to each of the companies where accounts were opened or used in your name that you didn't create the debt. Often, easier said than done -but if you know what steps to take as soon as you suspect an identity theft has occurred you can put a stop to further damage!
Complete ID Theft Affidavit
A group of credit grantors, consumer advocates, and attorneys at the Federal Trade Commission (FTC) developed an ID Theft Affidavit to make it easier for fraud victims to uniformly report information. While many companies accept this affidavit, others require that you submit more or different forms. It will be necessary to provide a copy of the affidavit anywhere a new account was opened in your name. The information will enable the companies to investigate the fraud and decide the outcome of your claim.
The affidavit has two parts:
• Part One -- the ID Theft Affidavit -- used to report general information about yourself and the theft.
• Part Two -- the Fraudulent Account Statement -- used to describe the fraudulent account(s) opened in your name. Use a separate Fraudulent Account Statement for each company you need to write to.
It might be a good idea to have copies of the Identity theft Affidavit on hand so you're not frantically looking to obtain a copy at the time of the crime!
When you send the affidavit to the companies, attach copies (NOT originals) of any supporting documents (for example, driver's license or police report). When you have finished completing the affidavit, mail a copy to each creditor, bank, or company that provided the thief with the unauthorized credit, goods, or services you describe. Attach a copy of the Fraudulent Account Statement with information only on accounts opened at the institution to which you are sending the packet, as well as any other supporting documentation you are able to provide.
Send the appropriate documents to each company by certified mail, return receipt requested, so you can prove that it was received. The companies will review your claim and send you a written response telling you the outcome of their investigation. Keep a copy of everything you submit.
Complete this affidavit as soon as possible. Many creditors ask that you send it within two weeks. Delays on your part could slow the investigation. Be as accurate and complete as possible.
When you have finished completing the affidavit, mail a copy to each creditor, bank, or company that provided the thief with the unauthorized credit, goods, or services you describe. Attach a copy of the Fraudulent Account Statement with information only on accounts opened at that institution to which you are sending the packet, as well as any other supporting documentation you are able to provide.
Send the appropriate documents to each company by certified mail, return receipt requested, so you can prove that it was received. The companies will review your claim and send you a written response telling you the outcome
of their investigation. Keep a copy of everything you submit.
Report any theft of identity to the Federal Trade Commission. By sharing your identity theft complaint with the FTC,
you will provide important information that can help the FTC compile statistics, but they can not and will not act on your behalf.
You can file a complaint and obtain a copy of the Affidavit online at www.consumer.gov/idtheft or by calling the FTC's Identity Theft Hotline, toll-free: 1-877-IDTHEFT (1-877-438-4338); DO NOT SEND AFFIDAVIT TO THE FTC Source: Federal Trade Commission
Once your personal information has been compromised -that data is usually bought and sold multiple times, for multiple purposes! It's important to note that just because you have successfully cancelled credit cards and closed accounts, changed PIN numbers, etc, that will not stop a thief from continuing to re-sell your information to other criminals who are looking to purchase personal information. The data mined by a thief is as good as gold to them and can be used repeatedly without your knowledge -until it's too late. Keep your identity locked up by either freezing your credit or placing fraud alerts on your credit reports. Remember -fraud alerts can and do fall off every 90 days or so unless the credit bureaus allow you to place an extended 7 year alert on them.
If you don't want to be left alone to clean up the mess if your identity is stolen, -consider hiring a company that will do it for you. I personally subscribe to LifeLock, for good reason!
Here's why...How much value do you place on your "free" time?
If you want to subscribe use the promotional code:denise
to receive a 20% discount -courtesy of LifeLock.
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