Summary
If someone took out a loan in your name, it's important to take action right away. The first thing you should do is file a police report with your local police department. Contact the lender or credit card company directly to notify them of the fraudulent account.
If someone took out student loans in your name, contact the school the thief used to take out the loans. Dispute the errors with the credit reporting agencies.
In some cases, it might be a good idea to freeze your credit. Place a fraud alert or freeze on your credit report as soon as you find out you're the victim of a fraudulent loan. Check your creditReport.com regularly to ensure no new accounts are opened in your name.
