Identity Theft, Identity Theft Protection, ID Theft
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Learn to fix the identity theft

By Amanda Randell
Published: Friday, January 18th, 2013

Numerous people experienced identity theft in the past. Some of them found out about the identity theft months after this happened, when they received letters from banks and financial institutions informing them that they owe big amounts of money and that in case they won’t do anything regarding these debts, the law will be applied. Receiving a letter in which you are informed that you owe $15,000 or who knows what huge amounts can be shocking. What do you do in such a case? Well, this is a clear situation of identity theft and you need to fix it.

Luckily, fixing the damage caused by the identity theft is possible, so make sure that you find out as much as possible about it. For example, you have to immediately change all your online passwords; change the email passwords, change the online banking passwords and block all the accounts. Even though you might think that only one of your bank accounts has been affected by the identity theft, it is better to block them all until you have official information in this respect. The next step is to contact a credit reporting agency and to inform them regarding a fraud that took place; they in turn will place a fraud alert on your respective credit report and will also inform all the other credit reporting agencies. Then, get credit reports from each of the three credit reporting agencies that stand at your disposal; since you informed them regarding a fraud, you are entitled to receive a free credit report. Check the report and see all the new accounts that haven’t been established by you, as well as the changes that you didn’t allow; there also might be some inaccurate personal information, so check these details too. By doing all these, you will offer the police a place to start in their search for the persona who committed the identity theft.

Since the three main credit reporting agencies will have an official statement showing that you are the victim of an identity theft, your credit score will not suffer. They will exclude the new accounts from your credit history and they will cancel all the changes that you didn’t allow, so your credit score will be intact at the end of all these. The identity theft is definitely a huge problem that requires time in order to be solved, so have patience and let the police handle the situation.

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