• Identity Theft Canada:
    What to Do if It Happens to You

    There are many things you can do to reduce your risk of being a victim of identity theft. But even if you take precautions, it’s possible that someone may obtain access to your personal information and use it to access your credit, your accounts, or your resources. If you suspect that you may have been a victim of identity theft, there are some steps you can take to minimize the damage and recover your financial health.

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    • Contact your credit card companies. If your credit card or credit card numbers have been stolen, you’ll have to cancel your cards immediately. Make sure to tell your company that your cards were stolen; this will stop further charges and limit your liability for unauthorized charges. Most credit card companies limit your liability to $50 if your cards were stolen. They can then issue you new cards under new account numbers.

    • Contact credit reporting agencies. Contact the three major credit reporting agencies and tell them what has happened. They will put a three month fraud alert on your information and alert you if any suspicious charges are reported. One you have gathered proof that someone has tried to open accounts or otherwise misuse your information, you can then have a seven-year alert placed on your records.

    • Contact law-enforcement. Identity theft is a crime, so if someone is using your social insurance number or your credit card numbers, they should be reported to the police.

    • Contact your creditors. If you have other creditors or accounts, someone with your personal information may have access to them. In addition, you may be contacted by debt collectors for payment on debts that you are not responsible for. Let them know that you have been a victim of identity theft, and that you cannot be held liable for this debt.

    • Contact your bank. If someone has obtained your social insurance number, your ATM PIN, or your chequing account information, your bank needs to know so that you do not incur overdraft fees and no withdrawals can be made without your consent. You may have to be issued new cheques and a new debit card.

    • Contact the post-office. Much identity theft occurs when people steal documents out of other people’s mail boxes. This is not only theft, it is mail fraud, and should be reported to your post office. Make sure that all documents in your name are being sent to your address, and not to a different address or post-office box.

    • Record everything. One of most inconvenient parts of having your identity stolen is the amount of follow-up you have to do with everyone. Still, this is a step you can’t skip. Every email and telephone call should be followed up with a written letter. Keep a copy of every letter, so that if any agency tries to hold you accountable for debts you didn’t incur, you can prove what steps you took and when.


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    Questions that this article talks about:
    How big is the problem of identity theft in Canada?
    What can I do if I'm a victim of identity theft?
    Who can I contact if I'm a victim of identity theft?


 
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3 Comments
On Dec 15, 2008, Jacqueline Said:
The company mentioned is partnered with the best risk management company in the WORLD and the only company that will investigate and restore your identity back to where it was while you go about your life. They cover all five areas of Identity Theft, where most of us think of only the finacial Idenity Theft. When you are a victim of Identity Theft you may need the use of a lawyer. They have an experienced lawyer in this field to help you.
On Oct 28, 2008, Monty Loree Said:
Agreed.. I believe that both Equifax and TransUnion have monitoring services.. It's a scary thing to have your identity stolen.
On Sep 11, 2008, Angella Said:
If your information is compromised, you may also want to consider signing up for a monitoring service.
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