Identity Theft and Stolen Wallets

I hope you’re reading this before your wallet or purse is stolen. If you are, follow the steps below to keep danger of identity theft to a minimum.

• Don’t carry your social security card
• Carry only one credit card - make a copy of both sides and keep in a safe place at home
• Make a list of membership cards you carry - include account numbers and contact info
• Make a copy of your insurance card - both sides - keep in a safe place at home
• Don’t write your PIN number on your ATM or debit card - don’t write it on anything else in your wallet either
• Get ‘WalletLock’ from LifeLock for stolen wallet recovery assistance.

If you’ve lost your wallet or purse, you need to immediately take steps to minimize the damage.

• File a Police Report - important. This proves the date, time and location of the theft or loss.
• Lost Driver’s License - contact the DMV of your state and report it.
• Contact your bank - report stolen ATM or debit card. If you had  your checkbook in your purse, get a stop payment on the range of check numbers you were carrying. There will probably be a fee for this but  you won’t be liable for any unauthorized checks that were written. Consider closing that account and opening a new one. Remember to change any payments that are on automatic withdrawals.
• Change PIN numbers
• Social Security Card - report stolen or lost card to the Social Security Administration fraud hotline at 1-800-772-1213
• Put a Fraud Alert on your credit report - contact any of the credit bureaus and request a fraud alert. It will need to be renewed every 90 days. TransUnion - 800-680-7289 - Equifax - 800-525-6285 - Experian - 888-397-3742
• Contact your credit card companies - you can find your account numbers and Customer Service numbers on your credit card statements. Report loss or theft and request a new account number.
• Insurance Card - request a new card - report old one as lost or stolen
• Membership Cards - Contact any places you have a membership with like a library card, gym, country club, etc. Let them know of the loss/theft and get a new card.
• House keys - have your door locks rekeyed or install new ones
• Car Keys - get a locksmith or car dealership to rekey your car locks.
• Cell Phone - call your cell provider immediately. You’ll be responsible for calls until you report it lost or stolen.
• Credit Monitoring - sign up for credit monitoring or an identity theft protection service like ‘Identity Guard’ or ‘Trusted ID’ that will monitor your credit  daily for changes. Compare these services here.
• Order your credit report - if you don’t use a credit monitoring service, get your credit report for free at annualcreditreport.com. Wait a month after the theft to get one because it will take that long to show up on your report.

LifeLock Identity Theft Protection offers recovery assistance if your wallet is ever lost or stolen. They call it ‘WalletLock’. One call to their 800 number is all it takes to have a specialist contact each credit card, bank or document issuing company, cancel your affected accounts. They will also complete the paperwork and all the steps necessary to replace your lost documents, including your credit/debit cards, driver’s license, social security card, insurance cards, checkbook - even travelers checks - all for free as part of their service.

 

How to Opt-Out of Pre-Approved Credit Offers

All those pre-approved credit card offers you get in the mail can be more than just junk mail. They are a favorite way identity thieves get accounts in your name.

Most of us really wouldn’t even think of dumpster diving for anything let alone papers. But it’s a common way thieves get their info to steal identities.

Sure, you can shred them. That’s really important. If you don’t have a shredder, get out your scissors.

Here’s some ways thieves can get those pre-approved offers even if you’re diligent about shredding everything:

• Thieves will sometimes steal out of mailboxes while you’re at work or school.
• Your mail can be sent to your old address
• Your mail can be delivered to the wrong address

The safest way to deal with this is to opt-out of all pre-approved offers.

• Online: https://www.optoutprescreen.com
• Phone: 1-888-5-OPTOUT (1-888-567-8688)

You’ll need to do this every 5 years. You’ll be glad you did, trust me.

If you decide you want to opt-in and get the offers again, use the same website of phone number. Card companies will be happy to put you back on their list.

Security Freeze vs Fraud Alert

Identity theft has finally started getting the attention it’s been begging for. As people become more aware of this crime, they’ve brought pressure on politicians and the credit reporting agencies to make changes. In the past, every state had their own laws regulating security freezes. On November 1, 2007, everyone can put a security freeze on their credit report.

What’s the difference between a security freeze and a fraud alert?

A security freeze completely shuts off anyone from opening new credit in your name - even you. The freeze makes it impossible for anyone to access your credit report. It stays in place until you remove it. You have to freeze your credit with all three credit reporting agencies at a cost of $10 each. To get the freeze temporarily removed, it’s another $10 each. If you’ve been a victim of identity theft, you can get a credit freeze for no charge. The fees vary by state, but $10 is the most common.

A fraud alert allows you to take out new credit or to let someone check your credit. The way it provides protection for you is this - you will receive a confirmation phone call at the number you gave before a new credit account can be opened. A fraud alert lasts for 90 days. To keep one in place, you’ll need to renew it quarterly. The cost for this is nothing - it’s free.

How to freeze  your credit report

• Send a letter to each credit reporting agency  requesting the freeze - preferrably a certified letter
  • Equifax Security Freeze
    TransUnion Security Freeze
    Experian Security Freeze
• Include your name, address, Social Security Number.
• Include a check or provide a credit card number and expiration date to pay for the fees.
• Provide proof of residence such as your driver’s license, student ID card, utility bill, etc.
• You’ll receive a PIN number - keep that safe and somewhere where you can find it later
• To remove or thaw the freeze,  write to all three credit reporting agencies requesting the freeze be removed. You’ll need your PIN for this.
• It can take three business days or more after receipt of your letter for the freeze to be removed. If you lost your PIN, it can take even longer.

 Because it can take a while to freeze and unfreeze your credit, it’s best to use this if you know you won’t be applying for any new credit, getting a new job or moving in the near future.

How to place a fraud alert

Placing a fraud alert is considerably easier than a freeze. All you have to do is call one of the credit reporting agencies and request a fraud alert be placed on your file. Whichever credit agency you call will notify the other two agencies so that they can update you in their files.

• Equifax: 1-800-525-6285
• Experian: 1-888-397-3742
• TransUnion: 1-800-680-7289

A fraud alert will prevent you from getting instant credit which is usually offered at stores. An offer for instant credit usually sounds like this, "If you sign up for our Visa card today, you’ll get 10% off your purchases." Instant credit is an identity thief’s favorite kind.

The method you choose to protect yourself depends on your circumstances at the moment. Either one works well. Neither of them will have any effect on your credit score.

Credit Reporting Agencies

Here are the Three Credit Reporting Agencies

Equifax Credit Information Services http://www.equifax.com PO Box 105873 Atlanta, GA 30348 800-685-1111

Experian http://www.experian.com PO Box 2002 Allen, TX 75013-2002 888-397-3742

Trans Union http://www.transunion.com Consumer Relations Center PO Box 1000 Chester, PA 19022 800-888-4213 OR 440-779-7200

If you are an identity theft victim, use the info below to contact the fraud departments.

Equifax Credit Information Services — Consumer Fraud Div. P.O. Box 105496 Atlanta, Georgia 30348-5496 Tel:  (888)766-0008

Experian P.O. Box 2104 Allen, Texas 75013-2104 Tel: (888) EXPERIAN (397-3742)

TransUnion Fraud Victim Assistance Dept. P.O. Box 390 Springfield, PA 19064-0390 Tel: (800) 680-7289

 

How to Report Identity Theft

If your identity has been stolen you need to act immediately to minimize the damage. Where should you start?

Identify the fraudulent accounts that have been opened in your name by someone else. You’ll find them on your credit report. Very possibly, the way you’ll find out you have fraudulent accounts is from a collections agency coming after you for overdue payments. Don’t talk to the collections agency about this - call the lender directly and let them know this account wasn’t opened by you.

If the theft involves someone using your existing credit card accounts, bank accounts or other lines of credit, call the bank, store or credit card companies right away and report it. This will alert them of the theft and minimize your damages and liabilities.

Then report identity theft to the following agencies, depending on your specific circumstances.

Report Identity Theft to the Federal Trade Commission

If you have any difficulty when you try to report identity theft to any of the above institutions involved in your case, hang up and call the FTC instead.

Mandated by the Identity Theft & Assumption Deterrence Act of 1998 to receive and process complaints from identity theft victims, the FTC is also given the responsibility under federal law to refer complaints to the appropriate agencies. This includes the major credit and police agencies.

You have two options:
- Use their hotline, 1-877-IDTHEFT (or 1-877-438-4338)
- Use their complaint form at http://www.ftc.gov/bcp/edu/microsites/idtheft/

Contact the Police

File a report with your local law enforcement. This is important because it establishes a time and date that you discovered the theft and shows you took action. If your identity was stolen when you were away from home, you may need to contact the police in that jurisdiction, too.

Opening a police case accomplishes two things:

• First, the police can start investigating the crime.
• Second, you will need information from the police report to help you straighten out your credit and accounts after the crime.

When you talk to the police, make sure you get the police report number and information on how to reach the investigator. Give this information to all the companies you contact in getting your credit cleared up after the crime. Ask for a copy of the police report - you may or may not be able to get one. Ask anyway.

Report Identity Theft to the Social Security Administration

Okay, here’s the bad news: The SSA doesn’t give help to victims of identity theft. But they have mechanisms in place so you can fix the problem.

You have three options:
- Use their hotline 800-269-0271
- Use their complaint form at http://www.socialsecurity.gov/oig
- Change your number (Only an option if you fit the SSA’s victim of fraud criteria. Visit http://www.ssa.gov/pubs/10064.html for details.)

More bad news: Even if your SSN has been hijacked and report identity theft to all the proper entities, getting a new SSN may not make the problem go away completely.

A new SSN is not an assurance that you’ll get a fresh credit record. Bureaus may end up combining all your credit files from both your old and new SSNs anyway.

What’s more, even when your fraudulent history is no longer attached to your new SSN, having no credit history under a new SSN may make it hard for you to get credit.

Report Identity Theft to the Three Major Credit Bureaus

You should be familiar with these three offices, since you must already be requesting free, periodic credit reports from them by now.

Call the following numbers to report identity theft:
- Equifax 800-525-6285
- Experian 888-EXPERIAN (or 888-397-3742)
- TransUnion 800-680-7289

Protecting your identity requires some work every month but is much easier than fixing it after it’s been stolen. Peace of mind is probably the best benefit of having a good identity theft prevention plan in place.

What To Do if Your Identity Has Been Compromised

Thieves can get your personal information in many ways. Security breaches, phishing, stolen wallet, dumpster diving, hacking into your computer…

If you think someone may have gotten your personal information, you MUST act quickly to protect yourself. That means - do it now.

Place a Fraud Alert on your credit report. It will last for 90 days. You can call one of the credit reporting agencies and they will contact the other two. However, I suggest you personally call all three of them to be sure it’s done immediately.

Equifax: 1-800-525-6285
Experian: 1-888-EXPERIAN (397-3742)
TransUnion: 1-800-680-7289

Get your credit report. You can get a free credit report from AnnualCreditReport.com - 1-877-332-8228. You’re entitled to one free report from each credit reporting agencies every year. Just get one right now. Next month, get one from another company. If everything is still ok at this point, wait 90 days to order your third free one.

If you find accounts you haven’t personally opened on your credit report, that means your identity has been stolen and you must take more steps to protect yourself. Find out what to do if your identity has been stolen.