It often starts small. A credit card charge you don’t recognize. A letter about a loan you never applied for. A call from a debt collector that leaves you confused—and uneasy.
Related Page: The Top Scams and Fraud Threats to Watch for in 2026 (and How to Protect Yourself)
Identity theft rarely announces itself loudly at first. And when it happens, the stress can feel overwhelming. The good news? Acting quickly can dramatically limit the damage. With the right steps, you can protect your finances, your credit, and your sense of control.
As a community bank, we’ve walked neighbors through this more times than we’d like to count. Here’s exactly what to do if you think your identity has been stolen—and how to move forward with confidence.
Step 1: Act Immediately—Time Matters
When it comes to identity theft, speed is everything. The sooner you respond, the easier it is to stop fraud from spreading.
If something feels off, trust that instinct. You don’t need absolute proof to start taking action.
Contact Your Bank and Credit Card Issuers Right Away
Call your bank and any affected credit card companies as soon as you notice suspicious activity. Ask them to:
- Freeze or close compromised accounts
- Reverse unauthorized transactions
- Issue new cards or account numbers
- Flag your profile for potential fraud
At a community bank, this isn’t a call center conversation. It’s a real person who knows how to help—and stays with you through the process.
Step 2: Place a Fraud Alert or Credit Freeze
Protecting your credit is one of the most important steps you can take.
Place a Fraud Alert
A fraud alert tells lenders to take extra steps to verify your identity before approving credit. It’s free and lasts one year (and can be renewed).
You only need to contact one of the three major credit bureaus—they’ll notify the others:
Consider a Credit Freeze
A credit freeze offers stronger protection by preventing new credit from being opened entirely unless you personally lift the freeze. This is also free and often the best option after confirmed identity theft.
Step 3: Review Your Credit Reports Carefully
Request free copies of your credit reports and review them line by line.
Look for:
- Accounts you don’t recognize
- Hard inquiries you didn’t authorize
- Incorrect balances or payment histories
You can access all three reports at AnnualCreditReport.com
If you spot errors related to identity theft, dispute them immediately with the credit bureau and the lender reporting the account.
Step 4: Report the Identity Theft to the FTC
Reporting identity theft creates an official record—and gives you a recovery plan tailored to your situation.
File your report at IdentityTheft.gov.
You’ll receive:
- A personalized recovery checklist
- Pre-filled letters to send to creditors
- An official Identity Theft Report
This documentation is incredibly helpful when dealing with banks, creditors, and credit bureaus.
Step 5: File a Police Report (When Appropriate)
In some cases—especially if significant money is involved or you’re dealing with debt collectors—a police report may be required.
Bring:
- Your FTC Identity Theft Report
- A government-issued ID
- Proof of address
- Any documentation of fraudulent activity
While it may feel intimidating, this step adds an extra layer of protection and credibility to your case.
Step 6: Secure Your Online Accounts and Passwords
Identity theft often starts with a digital breach.
Take time to:
- Change passwords on financial, email, and shopping accounts
- Use strong, unique passwords for each account
- Enable multi-factor authentication whenever possible
If your email was compromised, secure it first. Email access often unlocks everything else.
Step 7: Monitor Your Accounts Ongoing
Even after you’ve handled the immediate issue, stay vigilant.
- Review bank and credit card statements weekly
- Check credit reports regularly
- Watch for unfamiliar mail, calls, or emails
Many banks—including ours—offer account alerts that notify you of unusual activity in real time. These small tools can make a big difference.
Common Signs of Identity Theft to Watch For
Not sure if what you’re experiencing qualifies as identity theft? Some common red flags include:
- Unexpected credit denials
- Bills or accounts you don’t recognize
- IRS notices about unreported income
- Medical bills for services you didn’t receive
- Calls from debt collectors for unknown debts
If any of these sound familiar, it’s worth taking action—even if you’re still unsure.
How a Community Bank Can Help
When identity theft happens, people often feel embarrassed or overwhelmed. They shouldn’t.
At a community bank, our role goes beyond transactions. We help you:
- Walk through each recovery step
- Communicate with credit bureaus and creditors
- Set up safer accounts and alerts
- Restore confidence in your financial life
You’re not just a case number. You’re our neighbor.
Moving Forward with Confidence
Identity theft can shake your sense of security—but it doesn’t have to define your financial future.
Taking swift, informed action puts you back in control. And having a trusted financial partner by your side makes the road forward far less daunting.
If you ever have questions or need help navigating a tough financial moment, we’re here. Stop by, call us, or reach out. That’s what community banking is all about—looking out for one another, especially when it matters most.
