Fix Credit Report After Identity Theft–How to repair your credit after identity fraud.
More and more people are becoming victims of identity theft each year. Many people do not know that they are victims until they check their credit reports. There is hope after identity theft. Consumers must take the time to fix their credit after identity theft so that they can regain their past creditworthiness.
Ways to Fix Credit After Identity Theft
- Contact the police immediately. Consumers must not hesitate to contact the authorities. This important step provides documentation after the fraud has taken place so that consumers can begin getting their credit back on track.
- Put a fraud alert on credit. Fraud alerts last for 90 days. They require that lenders take additional measures to verify that the person applying for credit is the actual person. Some victims of identity theft require that lenders contact them by telephone when someone runs their credit.
- Enroll in a credit monitoring program. Credit monitoring programs are becoming more popular these days. Consumers get copies of their credit reports every few months, and they receive notification when someone has pulled their credit. The alert will help consumers immediately prevent future fraud.
- Call lenders and tell them about the identity theft. Lenders need to know immediately when consumers realize that they have become the victims of identity theft. This action will prevent future harm to credit and let lenders know that the debt does not belong to the holder of the account. They will send consumers a fraud package to complete and return.
- Follow up with lenders in 30 days. Lenders usually take 30 days to complete the investigation. Once they are complete, they should send a clearance letter and also contact the credit agencies to make sure that they remove the negative information from credit reports.
- Order the yearly free credit reports. The free credit report is an option that allows consumers to know what is on their credit reports. If they find negative information remaining of their credit reports, they should contact lenders immediately to resolve the issue.
- Remain focused on repairing credit. It can be very frustrating when consumers are victims of identity theft. It is very important to stay focused on repairing the damage from the identity theft until all inaccuracies are removed from credit reports. Becoming frustrated can make consumers lose focus. Stay persistent and don’t give up.
- Keep detailed documentation. Consumers may talk to an abundance of people during the process of repairing credit after identity theft. They should keep details of who they talk to as well as the dates, times, and topics of discussion. Consumers should make sure that they have correct information so that they can hold lenders accountable for their promises.
Repairing credit after identity theft can be very time consuming, but the process can be well worth it in the end. It is vital that consumers take action as soon as they realize that they have been victimized. Always contact lenders as soon as identity theft takes place. Persist until they remove the inaccuracies from all credit reports.