What to Do if Your Identity Has Been Stolen

Once you learn that you are the victim of identity theft, there are several steps you'll need to take to resolve the damage.

• Contact your credit card issuers and banking institutions as soon as possible to report any unauthorized transactions. Close the affected accounts. Check your credit card agreement; You should only be held accountable for a maximum of $50 of fraudulent charges.


• Get copies of your credit reports from all three credit reporting agencies. Contact the financial institution behind each unauthorized account and credit inquiry.


• Notify each credit reporting agency to place a fraud notice on your report. This statement alerts credit grantors that you may be a victim of fraud. Credit grantors will more thoroughly screen applications in your name before issuing credit. The downside to having a fraud notice on your report is that the next time you apply for credit, the process will be slower and more thorough. The statement stays on your report for up to six years unless you request in writing to have it removed. 


• File a report at your local police station describing the extent of the theft. Make sure to get a copy of your report (the credit reporting agencies may ask to see it).


• Keep a record of every step you take to clear up identity theft. Make a note of who you spoke with and when, and exactly what was discussed. Track the time you spend correcting the damage from the fraud.  Follow-up with each agency and financial institution to see what progress has been made on the investigation, and that your name is being cleared. 

To place a fraud notice on your credit reports, contact:

Equifax
1-800-465-7166

Experian
1-888-826-1718 (download the Experian Fraud Assistance form here)

TransUnion
1-800-663-9980 (outside of Quebec)
1-877-713-3393 (in Quebec)