Identity theft is an increasing problem. Most people do not realize that their personal information has been used by someone else until they attempt to apply for credit and are rejected. As of September 1, 2005, people can receive one free credit report per year from each of the nationwide consumer credit reporting companies (Equifax, Experian and TransUnion), by phone request ((877) 322-8228), or on the internet at www.annualcreditreport.com. It is entirely your choice whether you order all three credit file disclosures at the same time or order one now and others later. The advantage of spreading them out over the year (for example, one credit file disclosure every four months) is that you can keep track of any changes or new information that may appear on your credit file disclosure.

If you suspect you are a victim of identity theft, it is important to act quickly. Contact your local police department and insist they file a report. If you know the name of the company that was given your information, contact them immediately, and let them know you want to file a fraud report with them. Also, call one of the three major credit bureaus listed above to discuss placing a fraud alert on your account. If a fraud alert is placed on your account, you will be contacted each time someone applies for credit in your name to verify your identity. This will prevent identity thieves from opening any more fraudulent accounts in your name. The credit bureau will instruct you how to clear up your credit report.

By reviewing your credit report annually, you can keep track of and resolve any fraudulent activity. The Federal Trade Commission’s website (www.consumer.gov/idtheft/) has useful information regarding preventing and remedying identity theft problems.

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