# Someone Took Out a Loan in Your Name. Now What?
Identity theft through fraudulent loans ranks among the most damaging forms of financial fraud. When a thief opens a loan account using your personal information, you face immediate consequences: a damaged credit score, collection calls, and legal liability if you don't act fast.
Your first step is to contact the lender directly. Call the phone number on any loan documentation or search for the institution's official contact information. Do not use numbers from suspicious emails or letters. Report the fraud to the loan officer and ask to speak with the fraud department. Request written confirmation that you are not the account holder and that the loan was opened fraudulently.
Next, place a fraud alert with the three major credit bureaus: Equifax, Experian, and TransUnion. A single call to one bureau triggers alerts at all three. This alert remains active for one year and tells lenders to verify your identity before opening new accounts. You can renew the alert annually.
Pull your credit reports from annualcreditreport.com, the only federally authorized source for free reports. Document every fraudulent account. Dispute each one in writing with the relevant credit bureau, including copies of police reports or identity theft affidavits.
File a police report. This creates an official record and provides documentation for creditors and credit bureaus. Many police departments accept online reports. Also file a complaint with the Federal Trade Commission at identitytheft.gov. The FTC compiles data on identity theft patterns and can support your case.
Consider freezing your credit through all three bureaus. A credit freeze prevents anyone, including you, from opening new accounts without unfreezing first. This costs nothing and blocks most fraudulent applications. Unlike fraud alerts, freezes remain permanent until you lift them.
Monitor your accounts closely over the next year. Check statements weekly. Set