What protection is available once your identity has been stolen?

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January 25th, 2010 - Posted by Caitlin

The following post in our Reader Question series is an actual user submitted question:

Q: I would like to get information on what protection is available for a person who identity is already stolen and is being attempted to be used. I was wondering about instant alerts any time my name or credit is trying to be used or credit being extended. Please contact me with this information at your earliest convenience. Thank you!

A: What you have described in your question is called a fraud alert, and it is definitely a good idea to set these alerts with the credit bureaus if you believe that your identity has been stolen. Once you set a fraud alert with one credit bureau, that bureau will notify the other two. Fraud alerts expire after 90 days, so you'll need to reset them if you want to continue to be protected. LifeLock, one of our top-reviewed identity theft protection services, can help walk you through the process of setting fraud alerts and send you reminders when they need to be reset.

You may also want to consider a credit freeze, which would lock down your credit report to prevent any new accounts from being opened in your name. The details of setting a credit freeze vary depending on your state, but you would have to pay a small fee of $10.00 or so to set the freeze, and again when you are ready to unfreeze your account. You would have to set the credit freeze with each bureau individually, and pay the fee three times. You can learn more about freezing your credit and setting fraud alerts at ConsumersUnion.org.

It is a good idea to invest in an identity theft protection service, since in addition to taking measures to prevent and detect identity theft, most of these services will also help you restore your identity if you do become a victim. To learn more about LifeLock and other identity theft protection services, see our reviews and comparison chart.