Identity fraud puts you into substantial debt, ruins your credit score and possibly divest you of your medical and retirement benefits. You may also have to face legal problems, especially if your identity was used to perpetuate a crime. It can damage your reputation, ruin your credit opportunities and make it hard for you to rebuild your credit. So, if you believe you have been a victim of identity fraud, here are some tips that can help you recover quickly from its adverse effects:
Contact the credit companies and inform them that your identity has been stolen. They may set up credit fraud alerts. It will be attached into your credit report to inform potential lenders that you were not responsible for the fraudulent transactions that go you into bad debts.
Always request a copy of your credit report from the credit companies to spot signs of identity fraud in the near future. If there are inquiries listed in your report that you did not do, purchases you didn’t make, and loans you didn’t apply for, alert the credit company and your creditors immediately.
Get help from the authorities. File a complaint with your local police, and provide them with a much information as you can with regards to the identity fraud. You may have to show them telephone logs, phone numbers and your credit report. Get the phone numbers of the police officers and other law enforcers concerned in the investigation. Inform your creditors that an investigation is ongoing. They may be able to help the law enforcers speed up the investigation.
Hire a credit repair company. If you have bad credit you’ll probably pay an interest rate which is 50 percent higher than what borrowers with good credit have to pay. But bad credit in home financing can hurt even more because of the length of the loan and the accumulating interests as the years go by. This is so because borrowers with bad credit are considered by lenders as “higher credit risk”. So, you may have to pay hundreds or thousands more money out of your pocket that you could use on other useful things if you only have good credit rating.
If your score is too low to get the best loan offers and get a new credit card, take out a low-interest loan and an affordable mortgage credit repair can make a serious difference.
Clean Credit can help you improve your credit score by disputing the negative listings and correcting the problems that got you into a difficult situation. It has highly experienced credit repair specialists that can help you regain your peace of mind when it comes to your personal finances.
Don’t let bad credit caused by identity fraud stop you from making improvements in your life. Increase your chances of getting a job you want, get the most affordable down payment for your car and free yourself from the debt cycle.
Contact Clean Credit today to clear up your credit report and learn more how to recover from identity fraud.