Do I Really need To File A Police Report? 

Many people do not believe that they should file a police report. Identity theft seems simple enough, and they likely do not want to find themselves facing long, drawn-out procedures. You would like to report a burglar breaking into your home. You would like to report your vehicle has been stolen.

Here, you are dealing with something much more important to your life: your identity. Not only can these criminals steal your finances, but they can also destroy your ability to borrow or to get a job in the future.

When you file a police report about the incident, you should give specific information about what has happened. Most of the jurisdictions in the United States call this type of report an Identity Theft Report.

This report empowers you with certain legal rights. The three credit bureaus will need to act according to the stipulations of the report to help you in uncovering the problem you are facing. This tool can help you to work with these agencies to find criminals that have misused your information.

There are several things an Identity Theft Report can do for you if you have become the victim of identity theft:

1.     It permanently blocks fraudulent information from appearing on your credit report. This includes any results from the identity theft, such as fake accounts, names, addresses, or other reporting information.

2.     The identity theft report also ensures that these debts will not reappear on your credit report at any time in the future.

3.     This report stops companies who are coming after you through collections activities from collecting on that debt if it is proven to be the result of identity theft.

4.     The lender, collection agencies, or others may not sell these accounts to other collections companies to try and collect on the debt.

5.     The identity theft report also is needed in order to place an extended fraud alert on your credit report. This will protect your identity from future problems.

It is not always necessary to use this type of report, though. In fact, many types of identity theft can be fought by simply working with the lender. For small problems or for instances when someone has just used your credit card, this is the best route to take.

On the other hand, if there have been fraudulent charges on new accounts that you have not opened or there are situations in which there are multiple problems, filing this type of report can really help you to protect against further problems and to resolve current ones.

Also note that by filing a police report, you give the police an opportunity to catch the person who is making these charges. This is incredibly important for those who are angry and frustrated with the problems that these people have caused. More so, if they are not stopped, they can cause the same or worse problems for someone else. 

With an Identity Theft Report, the police can obtain the application that the thief used, the transaction information the thief made (which can support your own claims with credit card companies), as well as other information on where to locate the person.

FTC ID Theft Complaint 

In the United States, the FTC also helps consumers to fight identity theft. You may file an ID Theft Complaint with the organization (FTC.gov). This allows you to then bring this printed complaint to your police station to file your report. This will work as support for you when filing your claim. It also provides key details to police agencies on how to pursue the claims you are making and gives them the details they need to further investigate these claims you are making.

Protecting Your Identity

Before providing you with a few tips on how to protect your identity, let's talk about the ramifications for not doing so.

In the previous chapters, we have talked about what identity theft is and what to do if you believe that you have become a victim of it. But, why does it matter? What can the results of identity theft be to you, should you end up facing any of these charges?

Identity theft can last years. It can be a one-time occurrence. It is hard to say just how long it will last or how long the effects of identity theft will last. There are many factors that play into this, including whether the thief was the only person to use your information or if they passed it on to other thieves. In some cases, all reports may be closed and the accounts may be fixed, but the thief is not caught, which leads to them still using your information even years and years later. Problems with your credit report can linger for some time too, making it difficult to get jobs or to apply for new loans.

As you can see, it is critical that you do everything in your power to prevent these problems from happening to you in the first place. If you have been the victim of identity theft, you will need to:

· Monitor your credit report and your financial records closely for at least the next year to ensure that all details have been found and that you are no longer being victimized.

· Review your credit report every three months during the first year, at least, to ensure that any problems are identified quickly and are handled as soon as there is a problem.

· After the first year, check your credit report at least one time per year, but preferably, more often.

· Stay alert of any other signs of identity theft that we have mentioned on the previous pages.

· Correct any problems with your records with the lenders or companies. It is critical that you handle any type of fraudulent transaction or account as quickly as is possible to do so.

· Call your lenders or financial institutions over the phone to dispute charges or to handle problems. You should also follow up in writing to ensure that claims you make are handled properly.

· Be diligent. It is critical that you work towards monitoring and reacting to any problems quickly. The sooner that you fix a problem, the easier it is to fight that charge.

As a victim, you are likely to be worried about your finances for many months to come. Yet, you do not have to be a victim to take steps to protect yourself from identity theft in the future or even as a first-time event.

<< Previous    1  2  3  [4]  5    Next >>