Identity theft & credit fraud  
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Help for Identity Theft

Are you a victim of identity Theft and don't know what to do about it?  This ebook will take you through the steps to protect your identity AND show you how to restore your good name if you have been a victim.  Includes Identity Theft Worksheets.

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How To Repair Your Credit History

If your identity is stolen the first thing you will be contending with is the replacement and verification of all of your stolen information. You will need to have your PIN numbers changed, have your cards disabled and finally notify the financial institution of your authorizations through a phone call and through a follow up letter. You will probably have to close down accounts to remedy the situation as well.

However your job doesn’t stop at merely replacing your lost cards and so forth. You also need to procure your credit history from all three credit bureaus – Experian, Equifax and TransUnion – to see what kind of damage has been done to your report.  

Damage is immediately done to your credit history each time the criminal applies for a new credit card or for a loan. If the criminal has maxed out your cards, your credit scores will also drop, as the three credit bureaus will interpret this as being a drop in your available credit.  If you have also had to close out some accounts, you may have also done some damage as each closed out account strips points off of your credit rating. 

Repairing your credit history can be timely and costly. First of all you will find yourself having to regularly procure all three-credit reports to make sure that your campaign to have them corrected is working. Second of all you will be spending a lot of time writing “letters of dispute” to the credit bureaus to persuade them to remove any negative comments that were left there by the criminal’s use of the credit card.  

To make all of this even more frustrating it must be done within a time limit of sixty days to make the process most effective.  You must back up everything that you do with regards to cleaning up your credit history with documentation such as letters from the credit card company and police reports. Expect to spend about 600 hours in total over a period of a couple of years to get your credit history fixed up to the way it used to be before you became a victim of credit card fraud.

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Resources for Identity Theft Victims