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Thieves could open new lines of credit or credit cards in your name -- and fail to pay the bills. As debt accumulates and payments are missed, your scores may be negatively affected, because of the payment history associated with the accounts or the increase in your credit utilization.
You may receive a debt collection letter, to which you can respond by notifying the debt collector of the identity theft and providing it with proof of the theft, such as your Identity Theft Report. You should also contact the business that reported the debt to the collection agency and tell it to stop.
Steps to take if your identity was stolen Alert your bank or credit card companies immediately. ... Change your passwords and enable two-factor authentication. ... Continue monitoring your financial statements and accounts. ... Google yourself. ... Notify law enforcement. ... Set up a fraud alert or credit freeze.
I am a victim of identity theft, and I did not make [this/these] charge(s). I request that you remove the fraudulent charge(s) and any related finance charge and other charges from my account, send me an updated and accurate statement, and close the account (if applicable).
To make certain that you do not become responsible for any debts incurred in your name by an identity thief, you must prove that you didn't create the debt. Taking action quickly is important, so don't delay. Create a personalized recovery plan at IdentityTheft.gov that walks you through each step of the process.
Once identity thieves have your personal information, they can drain your bank account, run up charges on your credit cards, open new utility accounts, or get medical treatment on your health insurance. An identity thief might even file a tax return in your name and get your refund.
If you report your identity theft to the FTC within two business days of discovering it, you will only be liable to pay $50 of any unauthorized use of your bank and credit accounts (under federal law).
In most states, you're not liable for any debt that occurred as a result of fraudulent accounts being opened. Plus, under federal law, you are only liable for the first $50 in fraudulent charges on your credit card if someone uses your card to make a purchase.