I may have been the victim of fraud or identity theft. How can I put a fraud alert on my credit report?

When you place a fraud alert on your credit report at one of the nationwide credit reporting companies, it must notify the others. A fraud alert requires creditors who check your credit report to take steps to verify your identity before opening a new account, issuing an additional card, or increasing the credit limit on an existing account based on a consumer’s request.

There are two main types of fraud alerts: initial fraud alerts and extended alerts.

Initial fraud alerts
You can place an initial fraud alert on your credit report if you believe you are (or are about to become), a victim of fraud or identity theft. Credit reporting companies will keep that alert on your file for 90 days. An initial fraud alert requires that the creditor take reasonable steps to make sure the person making a new credit request in your name is actually you. If you provide a telephone number, the lender must call you to verify whether you are the person making the credit request.

When you place an initial fraud alert in your file, you’re entitled to order one free copy of your credit report from each of the nationwide credit reporting companies. These free reports do not count as your free annual report from each agency.

Once you get your credit reports, review them carefully. Look for:

Accounts you did not open

Information about the status of the accounts and whether the account balances appear correct

Outstanding balances on your reports that you can’t explain

Incorrect personal information, such as your Social Security number, address, name or initials, and employers

Tip: If you find fraudulent or inaccurate information, contact the credit bureau to have it removed by filing a dispute.

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Tip: Continue to check your credit reports periodically, especially for the first year after you discover the identity theft, to make sure no new fraudulent activity has occurred.

Source: http://www.consumerfinance.gov/askcfpb/1375/i-may-have-been-victim-fraud-or-identity-theft-how-can-i-put-fraud-alert-my-credit-report.html

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