# Someone Took Out a Loan in Your Name. Now What?
Identity thieves can open loans, credit cards, and other accounts using your personal information, leaving you responsible for debt you never incurred. This form of identity theft happens faster than you might expect, and the damage spreads quickly across your credit profile.
Here's what you need to do immediately.
First, contact the lender directly. Call the institution that issued the fraudulent loan. Tell them you did not authorize this account. Request they freeze or close it right away. Get the name of the representative you spoke with, the date, and a reference number. Document everything.
Second, place a fraud alert on your credit file. Call one of the three major credit bureaus: Equifax, Experian, or TransUnion. You only need to contact one bureau. They will notify the other two automatically. A fraud alert lasts one year and warns lenders to verify your identity before opening new accounts.
Third, request your free credit reports. Go to AnnualCreditReport.com, the official site authorized by federal law. Review all three reports for unauthorized accounts or inquiries. You're entitled to one free report per bureau per year.
Fourth, file a report with the Federal Trade Commission at IdentityTheft.gov. This creates an official record and gives you documentation for creditors and law enforcement.
Fifth, file a police report. Bring your credit reports and documentation to your local police department. Keep a copy of the report.
Contact the fraudulent loan issuer again in writing. Send certified mail with return receipt requested. Include copies of your police report and FTC complaint. Dispute the debt in writing within 30 days of receiving a bill.
Monitor your accounts closely. Set up alerts on your remaining credit accounts. Check your credit reports every few months.
Consider placing a credit freeze with all three