Identity Theft Solutions – Shut Down All Compromised Accounts

This means you pull the plug on both types of accounts—your old accounts the thief was misusing, plus any new accounts the thief opened in your name. Don’t forget that this could include credit card companies or service providers like your phone, ISP, or utilities. When you reopen your accounts, make sure you have a new account number, and guard it with a new password. (Use something only you could know—which is kind of the point of a password.) You can protect your rep by asking the creditor to classify the old account as “closed at customer’s request.” The other option—”Card lost or stolen”—can make you look careless, even though we know it wasn’t your fault.

If your ATM or debit card was stolen, the procedure is pretty much the same. Report the theft ASAP, cancel the card, and get a new card with a new PIN. If the identity thief stole checks, call the bank and stop payment on any outstanding checks you didn’t write. Then contact the check verification services so they can tell their retailers not to accept checks from the thief.

Closing accounts that were yours to begin with is pretty easy. The hard part is getting rid of the charges that you didn’t make, and closing accounts you didn’t ever open. Ask to speak to the fraud department of the bank, retailer, or credit card company. and find out what forms you need to dispute fraudulent charges and accounts. You may be able to use the ID Theft Affidavit—a standard form available online. Or you may need to use the company’s own forms. For now, go on record about everything you are disputing, and have the forms you need sent to you. Be sure to follow these calls up in writing to make things extra-official. If you’re dealing with a new account. get as much documentation about it as you can, such as a copy of the application used to open the account and transactions records.

If the creditor won’t give up the goods on your thief’s account. its probably because of their security policy—take a moment to laugh at the irony. Then keep trying. Getting the cops involved, or at least getting a police report, can help.

Are Debit Cards Safe?

Answer: The Jury Is Still Out.

The problem is that although your credit card number and your debit card number are both pretty easy to steal, the results can be quite different. With credit card fraud, the thief steals the bank’s money, and your job is to prove you don’t really owe it.

With debit card fraud, the thief steals your money, and you have to convince the bank to put it back into your account. Guess which one’s easier? When a thief steals your credit card you’ll never pay more than $50 in fraudulent charges. But when it’s your debit card, it’s possible to lose all the money in your bank account.