About Credit Repair For Identity Theft Victims

For example, the following passage was written by a victim of identity theft:

"Now here comes the bad deal when it comes to dealing with defaults on your credit file. If you are subjected to identity theft, the ultimate resource is to continue fighting for your rights. People are robbed, beaten, murdered, and violated and so on every single day. The difference between these situations and identity theft is these people are survivors and identity theft victims are victims for the remainder of their lives. I can say this with confidence, since it has been seven long years since I was robbed of my identity and today I am still fighting for my rights. Today I cannot get an apartment in my name, nor can I get credit. The reason ... my credit file has "fraud alert" written all over it. Once a fraud alert is posted on your credit file it leaves creditors open as to who committed the crime. If I had known about the "freeze" option when I sent letters notifying my creditors that my identity was stolen, I would have had a much better chance in life. Instead, no one told me. Now I am passing the word on to others, since I never want anyone to suffer as I have as a result of identity theft. When your identity is stolen, defaults hit your credit files continuously and remain there until the time allowed. If you are a victim of identity theft, make sure that you ask the credit bureaus to put a "freeze" on your accounts, not a fraud alert. This tells your creditors that you are a victim of identity theft, not a potential suspect."

Identity theft victims often have to go through a series of steps to repair their credit and identity. Once the victim has made contact with the 3 credit bureaus they often put a fraud alert on your credit report, which is supposed to be a protection for you, but the truth is, this is a 'mistake' since it labels the victim. If you go to apply for a loan or credit card it is likely you will receive a rejection in the mail.

So, is there a solution for identity theft victims and how can they repair their credit?

First, it is important to avoid identity theft by protecting your Social Security Card, Driver's License and other important information about yourself. However, if you are already in the credit bureaus labeled under the fraud alert, then you may find yourself giving up. Identities are stolen in several ways. The Internet is swarming with predators waiting to mess up someone else's life. People may stand over your shoulder peeking down at you while you are keying in your PIN number at the bank. You might have been in a relationship and the person decides he/she owns you and when you break up that person takes your identity. There are several ways that your identity can be stolen.

The solution, then, is to protect your identity with shields that no one can break through. If you are a victim of identity theft, your identity needs to be protected more so than ever. This sounds crazy since someone already has your ID. You will need to stay alert to the activities that affect your credit report. It is important that you keep updated copies of your reports at all time. If you notice activity, immediately dispute the claims against you. Be sure to file a police report since you will need these reports to show the 3 bureaus and others that your identity has been stolen. Once you receive the reports be sure to send copies to each credit bureau so that the companies can get you on record. These companies are going to put up a fraud alert once the copies have been evaluated. Here is where you need to stay alert. Instead of fraud alerts, the companies can put a "freeze" on your accounts. As discussed earlier, a "freeze" gives you options that fraud alerts will not.

For example, if you go to a bank and apply for a loan with a fraud alert on your accounts, most likely you will be turned down. However, if the banks see that you have a "freeze" on your accounts, they will investigate and possibly give you the loan. Freeze means that someone has affected your life by stealing your identity, while "fraud" means that someone has committed a criminal act on your account, and that someone could very well be you.

You will also need to report any checks that you suspect were stolen. Monitor your banking account at all times to make sure that no out of place activities are going on. It is important that you alert your utility providers and anyone that you have open accounts with. If you have credit cards report them immediately to get replacements. You may even want to cancel your current bank account and open a new account. This will offer a source of protection.

It is also important that you contact your Social Security office to find out if your social security has been used out of place. If unauthorized actions have been listed on your card, be sure to let the social security administrators know. Making others aware of what is going on in your life, can spare you additional headaches. You are already a victim of criminal behaviors, why not take the steps to repair your credit and restore your life.

Finally, you will need to contact Washington D.C. or the Identity Theft Clearinghouse, Federal Trade Commissions and let them know you are a victim of identity theft.

Please note that the information contained on this website is for information purposes only. We strongly suggest you seek professional advice from qualified and competent financial advisors, before making any financial decisions based on the information provided on this website. See our disclaimer for full details.

Related Topics ...

Search for more information on "credit repair tips" below: