# Identity Theft: Loans Opened in Your Name
Identity thieves exploit your personal information to open loans, credit cards, and other accounts without your knowledge. This form of identity theft damages your credit score and leaves you responsible for debt you never incurred.
Act quickly if you discover fraudulent accounts. Contact your bank and credit card issuers immediately to report the theft. Request that they freeze or close any compromised accounts and dispute unauthorized charges.
File a report with the Federal Trade Commission at IdentityTheft.gov. This creates an official record and provides a recovery plan tailored to your situation. Request copies of your credit reports from all three bureaus: Equifax, Experian, and TransUnion.
Place a fraud alert on your credit file. This requires lenders to verify your identity before opening new accounts. You can also request a credit freeze, which blocks access to your report entirely.
Document everything. Keep records of all communications with creditors, law enforcement, and the FTC. Send written disputes to the credit bureaus and request they remove fraudulent items from your report.
Consider filing a police report in your jurisdiction. Some states require this for credit-related identity theft cases. You may need the police report number when disputing fraudulent accounts.
Recovery takes time, but taking immediate action limits the damage and protects your financial future.