When an identity thief strikes, you’ll need to act fast to save your good name.

This is real life, your life — not an identity theft caper in a Hollywood movie with an A-list star having a grand time with someone else’s name and money.

An identity thief can disrupt your life in so many ways, running up credit card balances, applying for loans and jobs, even giving your name and Social Security number when arrested. And an identity thief can steal your credit card even if it’s still in your wallet.

Here’s what you need to do when an identity thief swipes your name and your personal financial information, according to the Federal Trade Commission.

1. Place an initial fraud alert on your credit report. Call one of the three, national credit reporting companies, Equifax (1-888-766-0008), Experian (1-888-397-3742) or TransUnion (1-800-680-7289) and request that an initial fraud alert be placed on your credit report. The company that you contact will contact the other national credit reporting companies so one phone call is all you need to place an initial fraud alert. You also can place a fraud alert online through any of the credit reporting companies’ websites. A fraud alert is free and stays on your credit report for at least 90 days. And you can renew the alert after 90 days if you wish.

2. Order and review your credit reports. Placing an initial fraud alert on your credit report allows you to order one free copy of your credit report from each national credit reporting company. And you’ll need to comb through each copy of your credit report to assess the extent of an identity thief’s damage on your current financial accounts and scope out any fraudulent accounts a thief may have created using your name.

3. Contact the fraud department of your bank. If a thief has tampered with one of your financial accounts, contact the fraud department of the bank or credit card company directly. Follow up with a letter sent certified mail and ask for a return receipt. Close financial accounts that you know or believe have been impacted by a thief’s actions, including fraudulent accounts opened in your name.

4. File a complaint with the FTC. Create an identity theft affidavit and file a complaint with the FTC. An identity theft victim’s affidavit is a voluntary form that you can use when communicating with credit reporting agencies, creditors and others about an identity thief’s actions.

5. Report the crime to local police. Use your FTC identity theft affidavit when filing a report with your local police. Request a copy of the police report or the report number for your records. Filing a police report will enhance your credibility with merchants and creditors as you work to clear your name, according to the Identity Theft Resource Center, a non-profit organization that supports victims of identity theft in resolving their cases. Without a police report, many creditors will not forgive debts inflicted by an identity thief, according to the ITRC.

6. Clean up your credit. Use the FTC identity theft affidavit and the police report when requesting fraudulent information be removed from your credit reports and stopping debt collectors from contacting you about debts incurred from an identity thief, the FTC recommends.

7. Keep records of all your communications. Keep a log of phone conversations, whom you spoke to, what was said and when. Send letters by certified mail and keep copies for your records. The FTC’s consumer information site on identity theft provides sample letters.

8. Extend a fraud alert if needed. If a thief has opened numerous fraudulent accounts in your name, you may want to place an extended fraud alert in your credit file while you clean up the mess. With an extended fraud alert, you receive two free credit reports within 12 months from each national credit reporting company. An extended fraud alert lasts seven years.

Identity theft can seriously impact your life for years afterward. Take precautions, such as shredding personal and financial documents, creating strong online passwords and monitoring your credit activity regularly. With some vigilance, you may be able to prevent being a victim of identity theft.