The Federal Trade Commission recommends immediately filing a police report, checking your credit reports, notifying creditors, and disputing any unauthorized transactions if you think you have been the victim of identity theft. Keep a record with the details of your conversations with creditors and government agencies about the situation and copies of all correspondence. You can place a fraud alert on your credit report by contacint any of the three consumer reporting agencies: Equifax, TransUnion, or Experian.