If you believe you are a victim of identity theft, it is crucial to act quickly to mitigate potential damage. Here are the steps you should take:
Immediate Actions
- Notify Financial Institutions:
- Contact your bank, credit card companies, and any other financial institutions where accounts may have been compromised. Inform them of the identity theft and request to freeze or close affected accounts.
- Contact Credit Bureaus:
- Place Fraud Alerts: Contact both Equifax and TransUnion to place a fraud alert on your credit reports. This alerts creditors to verify your identity before issuing new credit.
- Report Identity Theft:
- Local Police: File a police report with your local law enforcement agency. This creates an official record of the crime.
- Check Your Credit Reports:
- Check the inquiries and tradelines sections of your credit report to see if there are any that you don’t recognize.
- Change Passwords:
- Update passwords for your online accounts, especially for email and financial services. Use strong, unique passwords and enable two-factor authentication where possible.
- Monitor Accounts:
- Keep an eye on your bank statements and credit card bills for any unauthorized transactions or unfamiliar accounts.
- Consider a Security Freeze:
- If you want to prevent new accounts from being opened in your name, consider placing a security freeze on your credit reports. This requires creditors to obtain your permission before accessing your credit report.
- Document Everything:
- Keep detailed records of all communications with creditors, law enforcement, and credit bureaus. This documentation will be helpful if you need to dispute fraudulent charges or accounts later.
Additional Resources
- If you see soft inquiries made by Borrowell but do not have an account with them, contact Borrowell at fraud@borrowell.com with your personal information so we can block any fraudulent activity.
- Encourage friends or family who may also be victims of fraud to report their experiences and take similar protective measures.