The first and most crucial thing to do is to notify the fraud divisions of the three credit reporting agencies that you have been a victim of identity theft. They can place a "fraud alert" on your file to help prevent any further damage to your finances. This requires creditors to get your express, written permission to open any new accounts in your name.

Equifax: 800-525-6285
Experian: 888-397-3742
Trans Union: 800-680-7289

Contact your local police department and file a report. Retain a copy of the report for your records in case your creditors require proof of the crime.

Call the Identity Theft Toll-Free Hotline at 1-877-IDTHEFT (1-877-438-4338). This is the federal government's main center for reporting identity theft.

Immediately close any and all accounts that were fraudulently opened in your name, and follow up with these creditors in writing. Place passwords on any new accounts you open for additional security.

Immediately close any bank accounts, checking accounts or ATM cards that have been accessed by the identity thief. Request password-only access for all future accounts. Stop payment from your checking account if your checks have been stolen or misused. If your ATM card has been lost, stolen or otherwise compromised, cancel the card and get another with a new PIN.

Notify your local postal inspector if an identity thief has stolen your mail for access to pre-approved credit offers ,new credit cards, bank and credit card statements, or tax information. Also contact your local postal inspecto if an identity thief has falsified change-of-address forms.

Contact the Social Security Administration (SSA) if you believe someone has used your SSN to apply for a job. They can verify that your reported earnings are accurate and that your name is reported correctly.

If you suspect that your name or SSN is being used by an identity thief to get a driver's license, contact the Department of Motor Vehicles. Ask if you can substitute another number for your SSN if your state uses your SSN as your driver's license number.

Requests copies of your credit report from all three major credit reporting agencies. Carefully review your reports to be sure that no other fraudulent accounts have been opened in your name or unauthorized changes made to your existing accounts. Every 2-3 months thereafter, order new copies of your reports to verify your corrections and changes, and to be sure that no new fraudulent activity has taken place.

Keep careful records of all people and businesses you talked to regarding the identity fraud, including such details as dates, names, and phone numbers. It's very difficult to prove that you've been a victim of identity theft - you'll want to gather as much evidence and information as possible to help you win the long battle ahead.