Everything you do with the credit bureaus is kind of long and drawn out. However, it should not affect your credit scores in any way. What you really need to do is make sure that your bank accounts, bank cards, credit cards, social security number and driver’s license are all okay. Call each of the respective companies. I realize it’s a pain, but it might just save your butt in the process. As for placing an alert with the credit bureaus, make sure you have it in writing, along with an explanation about having it removed when you no longer have this fear.
Good luck.

Well if you believe you are a victim of identity theft, then you should place the alert regardless of any drawbacks.

My experience with a credit alert is that when I applied for a cell phone about 6 years ago, the company required me to jump thru some hoops. I had to provide them with a second piece of id, a utility bill and my past addresses. I also had to go home so they could call me at the number listed on my file and then come back. So, applying for credit will take longer. Basically, it will be twice as hard to prove that you are you.

If you are worried about identity theft at all, I recommend you report it because if you don’t, you will run into more problems in the future. This should have no impact on your credit score. I hope it all works out for you.