If your identity has been stolen, report it. File a report with local police as well as the police department where the identity theft occurred. Keep all records of your case, police reports and supporting documents; these may be needed by credit card companies or banks to prove innocence. Also file a complaint with the Federal Trade Commission:

• 1-877-ID-THEFT (438-4338)

• identitytheft.gov

Place a "fraud alert" or "freeze" on your credit reports. Contact the fraud departments of each of the three major credit reporting agencies. Let them know you've been a victim of identity theft and ask questions—including what protection is provided and if there are any costs—to determine whether a fraud alert or freeze is best for your situation.

• Experian, 1-888-397-3742

• TransUnion, 1-800-680-7289

• Equifax, 1-800-766-0008

Notify all credit grantors and financial institutions. Check the status on existing accounts, as they may have been jeopardized. Find out if there is any unauthorized activity or new accounts have been fraudulently opened in your name. You may be advised to close some or all of your accounts. Create new passwords and change your PINs.

Monitor your credit: Check your credit report. Under the Fair & Accurate Credit Transaction Act, consumers are entitled to one free annual credit report from each of the credit bureaus. The only authorized source is AnnualCreditReport.com (1-877-322-8228).