Credit Repair For Identity Theft Victims

Credit Repair for Identity Theft Victims

Identity theft victims are those people that loose simply because someone has stolen their
identity and run up their bills. If you are victim of Identity Theft you are well-aware how
difficult it can be to get back on your feet again. Identity Theft victims often have to go
through a series of steps to repair their credit and identity. Once the victim has made
contact with the 3 credit bureaus they often put a Freud Alert on your credit report, which
is supposed to be a protection to you, but the truth is it is a 'mistake' since it labels the
victim. If you go to apply for a loan or credit card it is likely you will receive a rejection
in the mail. So, is there a solution for Identity Theft victims and how can they repair the
credit? First, it is important to avoid Identity Theft by protecting your Social Security
Card, Driver License and other important information about yourself. However, if you
are already in the credit bureaus labeled under the Freud Alert, then you may find
yourself giving up. Identities are stolen in several ways. The Internet is swarming with
predators waiting to mess up someone else's life. People may stand over your shoulder
peeking down at you while you are keying in your PIN number at the bank. You might
have been in a relationship and the person decides he/she owns you and when you break
up that person takes your identity. There are several ways that your Identity can be stolen.
The solution is then protecting your identity with shields that no one can break through. If
you are a victim of Identity Theft then your identity needs to be protected more so than
ever. This sounds crazy since someone already has your ID. You will need to stay alert to
the activities that affect your credit report. It is important that you keep updated copies of
your reports at all time. If you notice activity, immediately dispute the claims against
you. Be sure to file a police report since you will need these reports to show the 3 bureaus
and others that your identity has been stolen. Once you receive the reports be sure to send
copies to each credit bureau so that the companies can get you on record. The companies
are going to put up a Freud Alert once the copies are evaluated. Here is where you need
to stay alert. Instead of Freud Alerts, the companies can put up a FREEZE on your
accounts. A Freeze gives you the options that Freud Alerts will not. For example, if you
go to a bank and apply for a loan with a Freud Alert on your accounts, most likely you
will be turned down. However, if the banks see that you have a FREEZE on your
accounts, they will investigate and possibly give you the loan. Freeze means that
someone has affected your life by stealing your identity, while Freud means that someone
has committed a criminal act on your account, and that someone could very well be you.
You will also need to report any checks that you suspect were stolen. Monitor your
banking account at all times to make sure that no out of place activities are going on. It is
important that you alert your utility providers and anyone that you have open accounts
with. If you have credit cards report them immediately to get replacements. You may
even want to cancel your current bank account and open a new account. This will offer a
source of protection. It is also important that you contact your Social Security Office to
find out if your Social Security has been used out of place. If actions have been listed on
your card, be sure to let the Social Security Administrators know. Making others aware of
what is going on in your life, can spare you additional headaches. You are already a
victim of criminal behaviors, why not take the steps to repair your credit and restore your
life. Finally, you will need to contact Washington D.C. or the Identity Theft
Clearinghouse, Federal Trade Commissions and let them know you are a victim of
Identity Theft.