Definition

• A group of creditors, consumer advocates and attorneys at the Federal Trade Commission (FTC) created a form -- the ID Theft Affidavit -- to make it easier for the victims to report fraudulent activities that involve their names and credit files to the appropriate agencies, merchants and credit grantors. The ID Theft Affidavit consists of two parts. In Part One, a consumer provides general information about himself. Part Two pertains to the fraudulent activity. A consumer will need to list all accounts that have been opened in his name. He may also include copies of any supporting documents with the affidavit.
  
  

Submitting the Affidavit

• A consumer must report fraud to all financial institutions to ensure that she is not held responsible for it. Many creditors and companies accept the ID Theft Affidavit but may require you to submit other forms. The FTC recommends that a fraud victim contacts her financial institutions to find out which forms they require for ID theft cases. A consumer will need to submit the affidavit to all companies she has accounts with, as well as the companies where accounts have been opened in her name.
  
  

Additional Steps

• The FTC advises a fraud victim to report fraudulent activities to one of the credit reporting agencies (Equifax, Trans Union or Experian). It is not necessary to contact each one, as one is required to inform the other two once a consumer reports an identity theft. Each credit bureau will place a fraud alert on the consumer's file. A consumer may also "freeze" his credit report and make it available only to creditors upon request. A consumer should also file a report with the FTC. The Federal Trade Commission makes the information available to the law enforcement agencies across the country, which may assist them in tracking down the identity thief.
  
  

Recommendations

• The FTC recommends that a consumer mails the ID Theft Affidavit to each financial institution by certified mail with return receipt requested to ensure that it has been received. Each company will review the information and respond to the consumer after conducting an investigation. A financial institution may close accounts involved in or possibly affected by fraud. If a consumer has other family members who have access to the accounts, she must notify them.