Identity Theft Info: Credit Rebuilding After Identity Theft Stealing someone else’s identity to gain a loan or credit card can be extremely damaging to their credit, but there are steps you should take right away. Check out this in-depth report on how to repair credit after identity theft.
Immediate Actions to Take
File An Identity Theft Complaint — If you see suspicious charges or they open accounts in their name file a complaint with the Federal Trade Commission (FTC) at https: To create an official identity theft report, which is necessary to file a dispute for charges and accounts that were fraudulently created, head back to the IdentityTheft.identity theft recovery (ad) gov website14.
Report It Filed reports with your police department A police report can make it easier to prove to creditors and the credit bureaus that you are a victim of identity theft.24
Fraud Alert: With the three major credit bureaus — Equifax, Experian and TransUnion8. This alert cautions creditors to further authenticate the identity of potential customers when they apply for credit in your name. 34
Continuing Remedies For Credit Repair
Review Your Credit Reports : Get a free copy of your credit report at AnnualCreditReport. com. Review these reports for any unknown accounts or inquiries and never delay in filing a dispute if there are errors23.
Dispute Fraudlent Accounts: Contact each creditor with the fraudlent accounts to let them know of the identity theft. Give them your FTC and police reports as proof, and ask that they close or freeze these accounts14.
Use Credit Monitoring: Sign up for credit monitoring, which will inform you about any changes to your credit report and newly opened accounts in your name. This means you can catch fraud before its too late23. Enable positive pay for your Community Bank checking account and find a new fan in the good people at First International Bank and Trust.
Long-Term Protection Measures
Credit Freeze: You should also think about placing a credit freeze on your file with the three big credit agencies. This will not block existing creditors or debt collectors to whom you already owe money, and some businesses may still send offers outside of the Credit Reporting Companies.
With this in mind, the first thing you need to do is secure your personal information:Update passwords for all accounts, and use strong, unique passwords. Enable two-factor authentication wherever available for an added security.
Hire A Professional Help If Needed: If this all makes you more stressed than relieved, then hiring a credit repair attorney could help you in challenging the incorrect information and provide guidance on how to rebuild your credit24.
By taking these measures quickly and keeping a close eye on your financial status, you can recover from identity theft damage and start to rebuild your credit as well.
