Since you were robbed and your identity is stolen, I think the best way to prevent identity theft is to go for fraud alert services with the credit reporting agencies. Whenever you go for fraud alert services, you will be contacted by the creditor whenever someone is going to open any new line of credit in your name. Initially the fraud alert service remains active for 90 days after which you can go for extended fraud alert services with the CRAs which is basically a long term solution for preventing identity theft.
I too think that the best way for you to prevent identity theft is to apply for fraud alert service with the three bureaus. If you contact any one of them, the other two will be informed automatically. You will get one free credit report from each of the three bureaus as soon as you opt for the service. This service is valid for 90 days after which you need to call the credit bureaus again and re-activate the service.
What four credit files. Are you talking about the credit cards or what. Not that I had my wallet stolen but I feel these things are good to know because you never know when something will happen.
Yes, if you have credit cards in your wallet and you lose it somehow, you should immediately inform the cc company of the loss of card. However, if you fail to report the loss of the card, your maximum liability would by $50. But if you inform about the loss, you are not liable to pay for unauthorized use of your card. After reporting the loss of the card, you should always take steps for fraud alert services with the credit bureaus. You may first apply for an initial fraud alert service and then an extended fraud alert service with the bureaus.
Wow I didn't know that would be all a person could be held liable for. Do you have to have some kind of credit card protection service plan to get this? Also I heard of three out of the four credit reporting agencies but never of Innovis. Who are they?
That is why it is always good to keep copies of your cards in a secret place so that if they are stolen you have access to the numbers on the card and the phone numbers to call it in stolen.
You should always keep some type of record of the cards that you have in your wallet.
I would also get a hold of the credit reporting agencies and put an alert on your credit report so if any one applies for any credit you can stop it before it happens.
This is good info GN. I never thought of this. I do not have my account numbers anywhere. I will be writing them down and storing them somewhere. THANKS!!!
if the cards are lost or stolen, you can notify the companies quickly. If your notification is received before the cards are used, you have no legal responsibility for the bills; if it is received after the cards are used, your legal responsibility is $50 for each card.
Hi Businesscredit
Since you have reported the loss of the card to the credit card company the maximum amount for which you are liable is only 50$ as mirage said. However, I think that you should also activate the fraud alert services with the credit bureaus. For this, you need to call any of the three credit bureaus to activate the service and the other two will be informed automatically. The service is active for 90 days from the date the service is activated in your credit report.
When you ask the bureaus to activate the fraud alert service, an alert is placed on your credit file with all the three credit reporting agencies. Once it is activated, if anybody tries to open a new credit line with your name, the application must be verified by you before it is processed. The fraud alert service is valid initially for a period of 90 days and you are entitled to a free credit report from all the three credit bureaus once you activate the service with them. However, the fraud alert service can be extended only if you are a victim of identity theft. The extended fraud alert service is valid for a period of seven years.
I would think that they would call you for each and every transaction with in the 90 day period? I have had mine call if they thought it was a bogus request.
See that is what I am thinking. If they in fact see that every month (using myself as an example) I only have a house payment and car ins directly debited from my account and then all the sudden this large amount comes in to be conducted shouldn't this throw a red flag.
OOps thought this was the post on taking money out of a bank account.
Anyway usually they will not hold you liable if you call in resonable time.
Not only that I had to sign a paper for each of those to be taken out. So how did they do this without papers and why did the banl allow it?
I am sure Gn it is really nothing more than annoying gibberish. This site was designed for credit minded people whom take it very seriously and I chose to ignore this type of thing. It has crowded itself into where it doesn't belong and therefore is not worth my time.
Hi carrie
Since you were robbed and your identity is stolen, I think the best way to prevent identity theft is to go for fraud alert services with the credit reporting agencies. Whenever you go for fraud alert services, you will be contacted by the creditor whenever someone is going to open any new line of credit in your name. Initially the fraud alert service remains active for 90 days after which you can go for extended fraud alert services with the CRAs which is basically a long term solution for preventing identity theft.
I too think that the best way for you to prevent identity theft is to apply for fraud alert service with the three bureaus. If you contact any one of them, the other two will be informed automatically. You will get one free credit report from each of the three bureaus as soon as you opt for the service. This service is valid for 90 days after which you need to call the credit bureaus again and re-activate the service.
Sounds like thes two have you covered. Please stop back and let us know how it worked out for you and ask anything else you need.
yep, they have it covered
Thats always good to hear.
I would go farther and freeze all 4 credit files.
What four credit files. Are you talking about the credit cards or what. Not that I had my wallet stolen but I feel these things are good to know because you never know when something will happen.
Experian, TransUnion, Equifax, Innovis.
Yes, if you have credit cards in your wallet and you lose it somehow, you should immediately inform the cc company of the loss of card. However, if you fail to report the loss of the card, your maximum liability would by $50. But if you inform about the loss, you are not liable to pay for unauthorized use of your card. After reporting the loss of the card, you should always take steps for fraud alert services with the credit bureaus. You may first apply for an initial fraud alert service and then an extended fraud alert service with the bureaus.
Wow I didn't know that would be all a person could be held liable for. Do you have to have some kind of credit card protection service plan to get this? Also I heard of three out of the four credit reporting agencies but never of Innovis. Who are they?
The early, the better.
My mom's wallet got stolen last week and immediately we reported it to credit card companies and requested to closed account.
That is why it is always good to keep copies of your cards in a secret place so that if they are stolen you have access to the numbers on the card and the phone numbers to call it in stolen.
You should always keep some type of record of the cards that you have in your wallet.
I would also get a hold of the credit reporting agencies and put an alert on your credit report so if any one applies for any credit you can stop it before it happens.
This is good info GN. I never thought of this. I do not have my account numbers anywhere. I will be writing them down and storing them somewhere. THANKS!!!
if the cards are lost or stolen, you can notify the companies quickly. If your notification is received before the cards are used, you have no legal responsibility for the bills; if it is received after the cards are used, your legal responsibility is $50 for each card.
I would do exactly as mirage12 stated, report it immediately.
Hi Businesscredit
Since you have reported the loss of the card to the credit card company the maximum amount for which you are liable is only 50$ as mirage said. However, I think that you should also activate the fraud alert services with the credit bureaus. For this, you need to call any of the three credit bureaus to activate the service and the other two will be informed automatically. The service is active for 90 days from the date the service is activated in your credit report.
When you ask the bureaus to activate the fraud alert service, an alert is placed on your credit file with all the three credit reporting agencies. Once it is activated, if anybody tries to open a new credit line with your name, the application must be verified by you before it is processed. The fraud alert service is valid initially for a period of 90 days and you are entitled to a free credit report from all the three credit bureaus once you activate the service with them. However, the fraud alert service can be extended only if you are a victim of identity theft. The extended fraud alert service is valid for a period of seven years.
So for 90 days can you use your card that you put the fraud alert on or do you have to leave it inactive? How exactly does fraud alert work?
I would think that they would call you for each and every transaction with in the 90 day period? I have had mine call if they thought it was a bogus request.
That would be reassuring. It is noce to see these places going the extra mile.
I think they should alert you when they feel you did not make the charge.
They should know what your habits are and should alert you if they feel that something is suspicious.
See that is what I am thinking. If they in fact see that every month (using myself as an example) I only have a house payment and car ins directly debited from my account and then all the sudden this large amount comes in to be conducted shouldn't this throw a red flag.
OOps thought this was the post on taking money out of a bank account.
Anyway usually they will not hold you liable if you call in resonable time.
Not only that I had to sign a paper for each of those to be taken out. So how did they do this without papers and why did the banl allow it?
wow, what is the chinese, japanese? Not real sure, does anyone know???
I am sure Gn it is really nothing more than annoying gibberish. This site was designed for credit minded people whom take it very seriously and I chose to ignore this type of thing. It has crowded itself into where it doesn't belong and therefore is not worth my time.