Steps to Handle Identity Theft on Your Credit Report
Introduction
Discovering your credit report has been flagged for identity theft can be a shocking and confusing experience. It's vital to act promptly to minimize the damage. This article will guide you through every step you should take to regain control of your credit report.Step 1: Identify And Validate Identity Theft
When a mysterious account appears on your credit report, it could be a mistake or a clear indication of identity theft. Review your credit report closely to rule out errors.If you are sure you've been a victim of identity theft, it's vital to validate these claims. This can be done by crosschecking the unrecognizable transactions with your previous bills.
Step 2: Report Identity Theft To Your Credit Bureaus
Upon confirming a case of identity theft, immediately contact the major credit bureaus: Equifax, TransUnion, and Experian. Request an initial fraud alert to prevent further fraudulent activity.Step 3: Place a Credit Freeze
Apart from the fraud alert, you can also request a credit freeze. A credit freeze restricts access to your credit report, making it difficult for identity thieves to open new accounts in your name.Step 4: Contact Relevant Entities
Notify your credit card issuers and bank about the identity theft. They can help monitor your accounts for suspicious activity. Depending on the severity, it may be suitable to close the compromised accounts.Step 5: Dispute Fraudulent Information
Use the dispute feature provided by your credit bureaus to challenge the fraudulent information. This dispute should include evidence that supports your claim.Our templates page has pre-constructed goodwill letters. These letters may definitely come in handy to dispute these reports with your lenders.