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How do I fix my credit after identity theft?

You tried so hard to earn a lot of credit. You paid off your mortgage, paid your taxes on time, and now it's gone. Identity fraud can be terrifying and devastating, but for you or your bank, it is not the end of the universe. 

Upon identity fraud, you will begin restoring your reputation by taking a few basic steps: 

  • Identity theft survey. 
  • Dispute loans and records fake. 
  • Close accounts fraudulently opened. 
  • Freeze your balance. 
  • For the future, cover yourself. 

1. Identity theft survey. 

It is potentially the most significant on the list. The first thing you should do when you realize that you have stolen your identity is to report! Always insure that a police report warns the authorities that your identity has been compromised. Next, the federal trade commission report identity theft. You can do it conveniently here. 

The three credit reporting agencies: Transunion, Equifax and Experian also report their identity theft. This is the first step in getting your reputation back on track to disclose identity fraud at all these sites. 

2. Fraudulent sales conflict. 

The method of disputing transactions is to let the right people know the purchases under your name are not necessarily yours. The reporting of identity theft is very similar, but it gets even more specific. People who commit fraudulent transactions tend to collect credit card bills, spend anything they have access to too, and sometimes open up more fraudulent accounts on their behalf. 

There are certainly avenues to contest all of this, but the procedure will take up time. It is a great option to start a list of fraudulent transactions by looking at bank accounts and credit card declarations. You can also record suspicious purchases online with certain banks. 

Moreover, using your social security number, a free credit reporting service can provide great monitoring of the accounts currently opened in your name. You can add them to the list of contested transactions and start working one by one until everything is reported correctly. 

It can seem daunting and time-consuming, but you and your credit can rebound by making a quick list and staying organized. 

3. Close accounts fraudulently opened. 

Sadly, this is true; fraud criminals are sometimes not satisfied with your current credit or checking account balance. So they conduct more risky business by opening accounts to commit more fraud on your behalf and eventually get more money. 

The recording of accounts as soon as possible is incredibly necessary to ensure that you don't waste any money due to identity fraud. 

4. Lock your balance. 

Freezing your credit is an excellent option not only for people who have experienced identity theft! With the three main credit agencies, freezing your credit is relatively easy. Credit freezing ensures you have approved any credit inquiry or "hit" before proceeding. 

For example, if you are applying for a loan, the bank will need to give the documents to the lending office to see if they can accept the loan. If you have a loan freeze, the credit offices won't authorize this inquiry until you accept it! 

It is especially important to freeze your credit as a victim of identity theft. You never know when your hard-earned cash will be returned by a sleazy identity stealer. 

5. Protect the Future from Yourself. 

The one thing you know when someone has stolen your identity is that you never want to do this again. It's exhausting and also really expensive because you robbed your name. 

Here are a few effective ways to defend yourself from potential data theft: 

  • Hold your accounts vigilant. 
  • Creating alerts to fraud. 
  • Start with electronic device protection.

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