Identity Theft Repair Kits

Last month, Kansas Attorney General Steve Six launched an online brochure aimed at preventing identity theft and repairing the damage it may have already caused. Touted as an “identity theft repair kit” the brochure contains information on the following topics:

Defining Identity Theft
•What is identity theft?
•How do they get my information?
•What do they do with it?

Action Steps
•File a police report
•Closing accounts
•Fraud alerts
•Fixing specific problems
•Filing complaints and affidavits

Checklists
•Actions
•Documents
•Future prevention
•Contacts

What’s In Your Identity Theft Repair Kit?

Although you may not live in Kansas, you can still easily put together a kit containing similar information. Having a single file folder or binder containing pertinent information might come in handy in the event that your identity is ever stolen. Being prepared can help you act quickly and can greatly reduce the amount of damage that is done. If you were to create such a folder or binder, there are at least five items you would want to be sure to include.

1. Information on all of your credit accounts. You may want to type up the information for all of your accounts so that it is all on one sheet or you can choose to have a separate sheet for each account. But you will want to make sure you include the following:  the name of the institution you hold the account with (whether it’s a credit card, mortgage or auto loan), your account number, and the phone number and address you would contact your creditor at if fraud is suspected. In addition to keeping information on existing accounts in this file, you may also want to consider keeping information for any closed accounts you had in the past along with the dates on which you closed them. This way, if you lose your wallet or notice any suspicious activity on any of your accounts you will know who to call in order to close your accounts and report the fraud.

2. Contact information for all three credit reporting agencies. All of your credit history (both positive and negative) gets reported to one or more of the three major credit reporting agencies: Experian, TransUnion and Equifax. If someone has stolen your credit card or opened new credit in your name, you will need to notify all three of the agencies immediately so they can place a freeze on your credit to prevent further identity fraud and so that they can work quickly to remove the fraudulent activity from your credit report. All three bureaus have numbers to call in the event of fraud. In addition to calling, it is also a good idea to submit a formal written complaint via certified mail with return receipt requested.

3. Account information for all checking, savings and investment accounts. If someone steals your wallet or lifts your debit card number from a website, your bank accounts could be compromised (and drained) just as easily as your credit could. In the event that someone steals your social security number, he or she could even gain access to items in your investment portfolio. If your identity is ever stolen in any capacity (even if it’s a single credit card) it’s a good idea to contact all institutions you have a financial relationship with and alert them of the fraud. That way they can take extra measures of security when it comes to protecting you and your accounts.

4. Phone numbers for your local police station, the Federal Bureau of Investigation and the Secret Service. Your starting place in reporting identity theft is always your local police station. But, depending on your particular type of case (and whether your identity was stolen online or in person) you might be told to contact the FBI or the Secret Service. Those two agencies deal with many of the online identity theft cases in which the perpetrator lives in a different state or country than the victim. Save yourself the hassle by having the contact information for all three agencies handy. Include several blank sheets of paper in this section as well so you can document the name of the person you speak to, the date of your call and a brief description of the conversation so you have meticulous records when you follow up.    

5. Recent copies of your credit report or written dates of when you last checked it. If fraudulent activity ever appears on your credit report, you may be asked why you didn’t report it sooner. Make sure you check your credit report from all three credit reporting agencies (as they may contain different information) at least once a year. If you are uncomfortable keeping your actual report in this file, at least write down the date you last read your credit report and combed it for errors.

Because this file or folder will be loaded with a significant amount of personal information, it would be a good idea to keep it safely stored in a safe where you can easily access it but others can’t. If you type up any of the information you put inside the folder, do not save those files on your computer as technology savvy identity thieves may be able to easily steal that information from you. Keeping a single copy in a safe and secure location is truly your safest option.

Nobody ever plans to be a victim of identity theft. Being prepared will help you navigate the situation quickly and correctly even if you are still in shock. Protect yourself. Create an identity theft repair folder for all of those in your house today.