Uh-oh! You have just discovered that your identity has been stolen. Should you apply a credit freeze to your accounts, a fraud alert, or both? To make the right decision, it is important to understand how each one operates and the effects each has on your accounts.
A fraud alert requires that any lenders or creditors take reasonable steps to verify your identity before issuing new credit in your name. You do not have to be a victim of fraud to initiate an initial fraud alert; you can do so as a pre-emptive measure, regardless of whether or not your identity has been stolen. An initial fraud alert lasts for 90 days (active duty military members have the option of a one-year application). If you are a victim of ID theft and have filed an identity theft ...
from MoneyTips http://www.moneytips.com/credit-freeze-versus-fraud-alert
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