The first thing to do is call all the creditor with the account you believe is fraudulent and tell them it wasn't you who opened that account. Document your call with the phone number, extension, date, time and who you spoke to. Write notes about your conversation.

Make sure to understand the process of how this creditor handles fraud claims. Make sure you understand what is expected from you. Ask what you can expect from them. Again, write all this down during the conversation.

Next, protect yourself with a 90-day security alert with the three credit reporting agencies - Equifax, Transunion and Experian. A 90-day security alert gives you time to verify if you are a victim of fraud. If you determine you are a fraud victim, you may add a 7-year victim statement to your credit report.

After the investigation on the fraudulent account is finished, ask the creditor for a document that states you are not responsible for the debt.