Identity theft leads to Fraud Alert requests

If the computers, internet and email are a few up the upsides of the digital age, the increase in identity theft is the downside. Requesting a Fraud Alert from a Credit Bureau has become a popular way to protect consumer's credit reports and credit scores.

What is a Fraud Alert?

A Fraud Alert is often the first line of defense between the consumer and identity theft. A Fraud Alert can make it more difficult for someone to get credit in your name, because lenders have certain procedures and guidelines to follow. Anytime someone applies for a credit card, car loan or cell phone, the lender contacts the consumer by phone  to verify that they are the one who wanted to open the account. If the lender cannot reach the consumer the credit account will not be opened.

How to request a Fraud Alert

Consumers who want to protect their credit report and credit score can request a Fraud Alert from one of the three major credit reporting bureau to protect themselves from identity theft. After requesting the Fraud Alert, the credit bureaus will activate an initial alert for 90 days. After the 90 days, the consumer must request the alert again. An extended alert stays on the consumer's file for seven years. In order to file an extended alert you will have to provide proof of your identity, such as a social security number.  The credit bureaus will also ask you for a copy of the identity theft report you filed with the federal, state or local law enforcement to initiate the extended alert.  You can visit  the Federal Trade Commission website at www.ftc.gov/bcp/edu/microsites/idtheft for more information on the identity theft report. For more information on Fraud Alerts and how to set one up, call one of the three major credit bureaus or visit their website.

•  Equifax: 1-877-576-5734; www.alerts.equifax.com
•  Experian: 1-888-397-3742; www.experian.com/fraud
•  TransUnion: 1-800-680-7289; www.transunion.com

How to remove a Fraud Alert

If you decide you want to remove the alert from your file, you'll have to submit a removal request in writing to the credit bureaus. You will have to provide the credit bureau fraud departments with your name, social security number, current and previous address, date of birth, and telephone number to remove the Fraud Alert.

For more information, visit the NCO Financial Systems, Inc.,(“NCO”) consumer website at www.consumerhelpunit.org.

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