by Dana Coyle

Created on: March 15, 2009   Last Updated: March 16, 2009

When identity theft happens, you must take action quickly to report it and limit the impact on your personal and financial future. Be sure to keep detailed notes about the person you spoke with and when, request written confirmation for everything, and keep copies of all documents.

1) MAKE IT OFFICIAL

File a police report in the jurisdiction where the theft occurred or in your own city if you do not know where the theft happened. If the police will not make the report, document that you attempted to do so and include the names of the police personnel that you spoke with, along with the date and time.

Contact the Federal Trade Commission (FTC), the federal agency that serves as a clearinghouse for identity theft complaints. They provide victims with information to resolve financial problems associated with ID theft. Call them at 1-877-ID-THEFT (1-877-438-4338) or click here to go directly to the ID theft page.

Now you have copies of the police report and the FTC online complaint form; these documents are important to prove fraudulent debt is not yours and to restore your credit rating.

2) STOP ACCESS TO YOUR ACCOUNTS

Call all credit card companies immediately to report the theft, including gasoline accounts and retail stores. The customer service number is on your monthly statement or on their website. Even if you are not sure that this particular credit card was stolen, alert the company to be safe and protect against yourself against unauthorized charges.

NOTE: Federal law protects you from owing more than $50 per card, ONLY if you report that the card was lost or stolen within two days of discovering the theft.

Call your banks and credit unions to contact their fraud department and report that you are the victim of ID theft. Request information on their procedures and what you need to do to protect your accounts, as well as how to maintain access to your money and how to use your ATM and debit card.

NOTE: Request a written statement for EACH bank and credit card account stating that it is closed and that you are not liable for fraudulent charges on the account.

3) PROTECT YOUR IDENTITY

If your driver license, social security card, insurance card, or other identification info has been stolen, you need to contact the appropriate agencies and companies.

Contact your state department of motor vehicles to report a missing license. You should notify your auto insurance representative, too, to inform them of the situation.

Contact the Social Security Administration to report

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