Identity theft & credit fraud  
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Recovering From Identity Theft

When it comes to recovering from identity theft there is no one stop solution. As it is your identity almost every aspect of it must be handled by yourself. This is because in-person verification is often needed to reestablish who you are after you identity has been stolen.

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One of the things that you can do to recover from identity theft is to immediately go about repairing any damage to your credit report. This is easier said then done but it is essential if you are going to be able to rent an apartment or take out a loan in the future.

Recovering financially from identity theft can be difficult, especially if you are held liable for the loans. However the law states that if you insist that you have been a victim of fraud then you must be believed. However to be believed you must report the fraud within sixty days or be liable for the debts. Otherwise you are only liable for $50 of the amount stolen.

Recovering your identity is usually quite simple as well. All it really entails is the request of new ID to support who you are.

Restoring your creditability and reputation on your credit report is a much bigger issue that requires removing bad credit comments caused by the kinds of things that fraud artists do (such as maxing out your cards or applying for too much new credit). Recovering from identity theft can take as long as ten years and cost you over 600 man hours. The average legal fees involved are over $11,000.00. This entails encountering a lot of red tape and also the embarrassment of being treated like you are a criminal anyway.  This is why depression and problems that are the result of stress are also often a consequence of identity theft in the long run.

More About Identity Theft

How to Report Identity Theft