Detecting Identity Theft
What are signs of identity theft?
Signs of identity theft include the following:
- Accounts you didn’t open and debts on your accounts that you did not incur or cannot explain
- Inaccurate information on your credit report, such as an incorrect Social Security number, address, name or initials, or employer
- Failing to receive bills or other mail that you normally receive
- Receiving credit cards that you did not apply for
- Being denied credit or being offered less favorable credit terms, such as a high interest rate
- Receiving calls or letters from debt collectors about merchandise or services you did not buy
How do you find out if your identity was stolen?
Unfortunately, the signs for identity theft are often the first indication that your identity may have been stolen. Many consumers find out that they are a victim of identity theft after damage has already been done.
What personal information should I monitor regularly?
Despite the fact that identity theft may not be discovered until damage has already been done, early detection of potential identity theft can make a big difference.
You should monitor your financial or billing statements and credit reports on a routine basis. When monitoring your financial or billing statements, look closely for charges you did not make. When reviewing your credit reports, look for inquiries from companies you haven’t contacted, accounts you didn’t open, and debts on your accounts that you cannot explain. You should also check that your personal information, such as your Social Security number, address, name or initials, and employers, are correct. For more information on how to make corrections to these records, see Recovering from Identity Theft.
How do I get my free annual credit reports?
To get your free credit reports, contact one of the three consumer reporting agencies at the links provided in Additional Resources.
Under Federal law, you are also entitled to a free report if a company takes adverse action against you and you request your report within 60 days of receiving notice of the adverse action. An adverse action could be denying your application for credit, insurance or employment. The notice of adverse action will give you the name, address, and phone number of the credit reporting company that supplied the information about you.
Federal law further entitles consumers to a free credit report if you’re unemployed and plan to look for a job within 60 days, you are on welfare or your report is inaccurate because of fraud.
Should I use a credit monitoring service?
The decision to use a credit monitoring service should be made carefully as there are a variety of commercial services that, for a fee, offer services to monitor your credit reports for activity and that will alert you to changes in your accounts. Prices and services vary widely. Some services monitor only one of the three major credit reporting agencies, while others monitor all three. Make sure you understand what you are getting into before you purchase the service.
*These pages were compiled using information provided by the Federal Trade Commission.