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Identity Theft Resource Center
We have developed this section to
help consumers deal with issues involving
and preventing Identity Theft and
the problems associated with its affects on your credit reports.
ID Theft is rampant and stressful. Hopefully this resource center
will simplify it for you.
What is ID Theft
 Identity
Theft is the fastest growing crime today. Millions of consumers
are targeted everyday by criminals trying to steal their financial
fingerprint. For years now I have been talking about ID Theft and
the trouble with the current laws in place to protect consumers
but finally some federal laws have been enacted and amended to help
make the process easier to handle for those affected by this financial
crime.
Identity Theft also known as ID Theft is when
someone steals your identity to gain financial resources under a
false identity (one not of their own). Usually this includes stealing
your social security number or drivers ID number, credit report
information, credit cards, bank account information or personal
home address information. Thieves will then use this information
to open up false accounts such as credit cards, auto loans or to
take on your complete identity.
Often deceased persons are targeted too because
the thief can gather information such as their date of birth and
full name from a cemetery then begin living off of that identity.
Using a deceased persons identity is very easy for a criminal because
the person is no longer around to check their credit or catch the
thief and usually a credit record and identity has already been
established so the thief saves valuable time in not having to build
a false record, it's already there!
Criminals are resourceful and ID
Theft is an easy non violent way to get money and often lots
of it. A thief can open up credit card accounts and even purchase
a car in your name and months or years can go by before you even
discover it. Millions of people have a credit report with three
major credit bureaus so there is a huge pool out there for thieves
to utilize. Many people never check their credit at all or many
check it only every few years but often by then it's too late. Once
a thief steals your identity it is a large undertaking to get your
good credit back and its very stressful to deal with.
Is ID Theft a crime?
The Identity Theft and Assumption Deterrence Act
is a federal law that makes it a crime so the answer is YES! The
federal code is located at: http://www4.law.cornell.edu/uscode/html/uscode18/usc_sec_18_00001028----000-.html.
A person convicted could face up to 15 years in prison. Not all
states may have an ID Theft law so check the link at http://www.consumer.gov/idtheft/federallaws.html#criminalstate
for your state ID Theft Law. ID Theft has been growing so quickly
that legislator's have scrambled to enact or revise laws to protect
us. With all of the technology available today a savvy thief can
easily and quickly steal your identity and ruin your perfect credit
and break the bank!
How to avoid ID Theft
The best way to avoid Identity Theft is to
be very very cautious of ALL your personal information. Whether
you are filling out applications, or a change of address at the
post office or simply talking to someone on the phone, you need
to be diligent in keeping your personal information private. To
avoid being a victim always do the following.
Shred shred shred!
Tear up or shred all financial documents or any documents that have
your name and address on them. Be sure you tear them up into tiny
pieces if you don't shred them because a thief can go through your
trash and piece it back together. Shredding is the most secure way
and a paper shredder only costs a few dollars. It's a worthy investment.
Check your credit!
Check your credit
reports and check them often! I cannot stress this enough. Your
credit reports will be the first place a thief's' work will show
up. Once a thief has gotten a hold of your personal information
and opened up false accounts in your name, your credit will be ruined!
The task of correcting the reports will be a daunting one that can
takes months or years to correct therefore you need to look at them
often. According to the Federal Trade Commission, it takes about
12 months on average for a victim of identity theft to notice that
their ID has been stolen! I recommend checking your credit every
3 months but at least once every 6 months. A year is a long time
not to look at your credit so I don't recommend it only annually.
A lot of damage can be done in a years time. A new law allows you
to look at your credit once a year, free of charge so be sure to
visit annualcreditreport.com and order all three! Save them to your
computer and review them completely for any suspicious activity.
The new FACT Act does require creditors
to now notify you of negative information on your credit reports
which may alert you to the theft but again, by then it has already
happened so don't wait until you receive a notice by mail.
Be selective on giving out your personal information
The best way to keep your information private is to limit who you
provide your information to. If you are applying for loans online
or by application be sure to check the company's privacy policies
to ensure they have procedures in place to protect your info. If
you shop online or fill out forms online make sure you see a SSL
(secure socket layer) symbol on the web page to ensure it's safe.
Check out all online websites before you give them any information
and do not put your financial information in any emails. If you
shop at a merchant in person, the new FACT act requires the merchants
to only list the last 5 digits of your credit card number. Older
systems used to print the entire account number on your sales slip.
Never provide anyone with your social security or drivers license
number unless you are sure where that information is going.
What
to do if you are a victim
If you discover you have been a victim of ID
Theft then quickly do the following:
Contact the police
Filing a police report is extremely important because it will
help to prosecute the thief(s). If your Identity has been stolen
be sure to contact the police immediately and ask to file the report.
Be sure to get a copy. The police report is a great tool in proving
the crime to your creditors especially if balances are owed. If
your local police do not have an Identity Theft Report then ask
to file a Miscellaneous Incidents Report. You may also want to contact
your Attorney General.
Get all three credit reports
Go through them to look for changes in the accounts, balances or
address information. Also look at the inquiry section of the report.
Contact all three bureaus and tell them your ID has been stolen.
The credit bureaus will place an alert on your credit reports that
will ensure you are contacted if anyone tries to open accounts or
if activity takes place after the date they were notified. While
an ID alert may temporarily lower your credit score, it is necessary
if you are a true victim of ID Theft. Once the fraud alerts are
placed on your credit reports, you are entitled to a free copy.
Contact all your creditors
Advise them you are a victim of ID Theft. Tell them to monitor the
accounts for any suspicious activity and to contact you. On the
affected accounts, tell the creditors you need to file disputes
for the fraudulent charges. Be sure to also contact the DMV, SSI,
Bank or Credit Union if those accounts have been affected. Be sure
to notify all creditors and collectors (especially collectors) that
you are a victim of fraud and the money borrowed was not done by
you and to cease collection efforts. Immediately supply them with
all documents to support your claim including a police report.
File a complaint with the Federal Trade Commission
By sharing your identity theft complaint with the FTC, you will
provide important information that can help law enforcement officials
across the nation track down identity thieves and stop them. The
FTC can refer victims' complaints to other government agencies and
companies for further action, as well as investigate companies for
violations of laws the agency enforces. You can file a complaint
online at www.consumer.gov/idtheft. If you don't have Internet access,
call the FTC's Identity Theft Hotline, toll-free: 1-877-IDTHEFT
(438-4338); TTY: 1-866-653- 4261; or write: Identity Theft Clearinghouse,
Federal Trade Commission, 600 Pennsylvania Avenue, NW, Washington,
DC 20580.
Take a lot of notes!
Keeping a log of who you talked to, their names, position and other
information will help you organize a better case against the fraud.
Since you will be dealing with creditors, collectors and credit
bureaus, it will be essential to keep a log of everyone you speak
to. Keep copies of all letters and send everything certified mail
return receipt. Keep the file on the theft for at least 5 years.
Mail Theft
Be sure to contact the USPS if your case involves mail fraud or
if someone used the post office to change your address. The site
to visit is: U.S. Postal Inspection Service (USPIS) www.usps.gov/websites/depart/inspect
Remedying the affects of ID Theft
You have a right to ask a business, creditor or debt collector not
to report information about an account to the credit bureaus if
it is the result of fraudulent information. To do so you must contact
the company and advise them that the account in question is a result
of your identity being stolen. Here is a PDF document to provide
further tips:http://www.ftc.gov/bcp/conline/pubs/credit/idtsummary.pdf
Stay Informed
Once you have beaten ID Theft don't let it happen to you again.
Stay vigilant and stay aware. Continually monitor your credit reports
and keep your social security number and drivers license number
private. Only give that information to people you trust like employers,
accountants etc. The best way to stop identity Theft is to prevent
it by being aware and educated. The Internet offers a lot of free
education about protecting your financial information.
Laws
relating to ID Theft
The Federal Trade Commission offers a comprehensive
web site that lists all the laws relating to credit. There you can
find the following laws.
FCRA>
Fair Credit Reporting Act
FACT> Fair and Accurate Credit Transactions Act
FDCPA> Fair Debt Collection Practices Act
FCBA> Fair Credit Billing Act
Financial
Privacy Laws: Laws affecting financial institutions
To contact a credit bureau direct:
Equifax
PO Box 74024
Atlanta, GA 30374
800.525.6285
www.equifax.com
Experian (TRW)
PO Box 9532
Allen, TX 75013
888.397.3742
www.experian.com
TransUnion Corp
PO Box 6790
Fullerton, CA 92834
800.680.7289
www.transunion.com
To get your credit reports free:
www.annualcreditreport.com
Letters you may need
This is a great resource for all the documents needed to file reports
and contact creditors etc.
Go to>> ID
Theft Center.org
The site offers the following letters:
To Credit Issuers, Financial Institutions and
Merchants
#1- Initial Identity theft victim statement/fraudulent
account information request
#2- Second Request Letter, they are ignoring you - all entities
#3- Follow-up Letter, confirming conversations about letter of clearance
#4- Declaration of Responsibility- the impostor wants to pay the
bill
#5- Letter to merchants- checking account fraud
To Collection Agencies
#1- Collection Agency Original Victim Letter,
including request for info
#2 above- Follow-up Letter, they are ignoring you - all entities
#3 above- Follow-up Letter, requesting clearance letter or confirming
conversations
#4 above- Declaration of Responsibility- the impostor wants to pay
the bill
Link>
http://www.idtheftcenter.org/letterforms.shtml
Identity Theft Affidavit (PDF)
FTC
Identity Theft Afidavit
Here is the Federal law
that makes Identity Theft a crime (a
portion)
IDENTITY THEFT AND ASSUMPTION DETERRENCE ACT
§ 001. Short Title. [NOTE: 18 USC 1001 note.]
This Act may be cited as the "Identity Theft
and Assumption Deterrence Act of 1998".
§ 002. Constitutional Authority to Enact
this Legislation. [NOTE: 18 USC 1028 note.]
The constitutional authority upon which this Act
rests is the power of Congress to regulate commerce with foreign
nations and among the several States, and the authority to make
all laws which shall be necessary and proper for carrying into execution
the powers vested by the Constitution in the Government of the United
States or in any department or officer thereof, as set forth in
article I, section 8 of the United States Constitution.
§ 003. Identity
Theft.
(a) Establishment of Offense.--Section 1028(a)
of title 18, United States Code, is amended--g:
"(7) knowingly transfers or uses, without
lawful authority, a means of identification of another person with
the intent to commit, or to aid or abet, any unlawful activity that
constitutes a violation of Federal law, or that constitutes a felony
under any applicable State or local law;".
(b) Penalties.--Section 1028(b) of title 18,
United States Code, is amended--
(1) in paragraph (1)--
"(D) an offense under paragraph (7) of such
subsection that involves the transfer or use of 1 or more means
of identification if, as a result of the offense, any individual
committing the offense obtains anything of value aggregating $1,000
or more during any 1-year period;";
(2) in paragraph (2)--
(A) in subparagraph (A), by striking "or
transfer of an identification document or" and inserting ",
transfer, or use of a means of identification, an identification
document, or a"; and
(B) in subparagraph (B), by inserting "or (7)" after "(3)";
(3) by amending paragraph (3) to read as follows:
"(3) a fine under this title or imprisonment
for not more than 20 years, or both, if the offense is committed--
To read to the full act go to: http://www.ftc.gov/os/statutes/itada/itadact.htm#003
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