| It's no secret, everywhere you look you are told of the | | | | 2. File a police report. |
| dangers and increasing volume of identity theft. | | | | The next thing you need to do is file a police report. |
| Fortunately, there are some things that you can do to | | | | This will become very important as you work to |
| improve credit score after falling victim to this horrific | | | | improve credit score. Because the problem has |
| crime. | | | | become so prevalent, today you can likely just phone |
| Unfortunately, this crime happens far too often. | | | | your local police department and file the report over |
| Perhaps when you're waiter swiped your credit card | | | | the phone. Make sure to get the report number from |
| he also kept the number for his own personal use. Or | | | | them as you will need this when dealing with the |
| maybe the thieves lifted your information when you | | | | different creditors and credit bureaus. |
| used your credit card at the gas pump, or they simply | | | | 3. Contact the financial institutions that you uncovered |
| intercepted your mail and are now living the high-life on | | | | in step 1. |
| your good name. The scenarios are too numerous to | | | | Now that you have the list of creditors from step 1, |
| count, but the devastation can have an impact for | | | | you need to begin contacting them so that they do not |
| years to come. If you have been victimized you must | | | | start trying to collect this fraudulent debt from you. |
| take action to not only limit the immediate financial | | | | While you may want to call the creditors directly, you |
| impact, but you must also take measures to improve | | | | also want to follow everything up in writing via certified |
| your credit score as well, as it has likely taken a | | | | mail. In your letter you only need be short and sweet, |
| beating through no fault of your own. | | | | indicating that you were a victim of identity theft, that |
| The credit bureaus and creditors are not going to | | | | you have filed a police report on the matter, that you |
| know that you were a victim, and they will report all of | | | | believe based on your review of your credit report (or |
| the activities of the thieves on your credit report unless | | | | their contacting you directly) and that you are not liable |
| you are proactive and take action to improve credit | | | | for the debt in question. Remember to also send in a |
| score calculations by eliminating this negative | | | | copy of the police report along with this letter. |
| information. While the time and effort involved in this | | | | 4. Improve credit score with the bureaus. |
| process can be overwhelming for most, you, | | | | The next and most time consuming and challenging |
| fortunately have the option of enlisting professionals to | | | | part of the process is contacting the three major credit |
| assist you in working with the bureaus to fix the | | | | bureaus, Equifax, TransUnion and Experian and |
| problem and improve credit score. | | | | working to have the damaging information caused by |
| We will now outline some of the steps that you must | | | | the identity theft removed from your credit report. |
| take immediately upon recognizing that you have been | | | | Because the bureaus deal with billions of entries on a |
| a victim of identity theft. | | | | monthly basis, it is important to ensure that you follow |
| 1. Order a copy of your credit report from all 3 | | | | all the best and most effective practices in working to |
| bureaus. | | | | have this information removed. Unfortunately, while this |
| The first thing you must do is figure out how much | | | | should be an open and shut issue, this is not often the |
| damage has been done. In most cases, the item that | | | | case and it takes genuine research and knowledge to |
| tipped you off to the problem is not the only instance | | | | ensure that these errors are removed rapidly. In many |
| of the problem. The thieves have likely used your | | | | instances enlisting a professional may be the easiest |
| identity to secure credit from multiple creditors, running | | | | and most effective way to get this information |
| up the balances, and leaving you to suffer the impact. | | | | removed. |
| After obtaining a copy of your 3-in-1 report, go through | | | | The unfortunate truth is that identity theft is likely to |
| each account making note of which are your legitimate | | | | affect either us individually or someone close to us. |
| accounts and which are fraudulent. These fraudulent | | | | Knowing what steps to take following this devastating |
| accounts will have a negative impact on your credit | | | | crime however, will allow you to quickly recover and |
| score and knowing will guide you as you fight to | | | | improve your credit score back to where it belongs. |
| improve your credit score going forward. | | | | |