How to Fix Your Credit Report
Identity theft can have devastating consequences, leaving victims with fraudulent accounts, damaged credit, and endless frustration. This comprehensive Identity Theft FAQ answers your most pressing questions, from recognizing warning signs to taking proactive steps for prevention and recovery. Equip yourself with the knowledge to safeguard your identity and seek help when needed.
Q: What Is Identity Theft?
A: Identity theft occurs when someone uses another person’s identifying information to fraudulently obtain goods or services. This financial crime leaves the victim to deal with fraudulent accounts and debt collectors. Identity theft can also be used as a technique for stealing government benefits and tax refunds.
Q: What Are the Warning Signs of Identity Theft?
A: There can be many different warning signs that you have been a victim of identity theft. But here is a list of the most common signs:
Q: What Should I Do to Prevent Identity Theft?
A: While most identity thefts today occur with the assistance of data stolen from large companies, there are some things you can do to prevent ID theft.
Q: Should I Try to Find the Person Who Stole My Identity?
A: No, this is not necessary. Many creditors will try to convince victims of identity theft that this is the consumer’s responsibility, but there is no legal requirement that a victim track down the person or organization that stole their identity. Most importantly, trying to find the identity thief won’t help restore your credit or convince debt collectors to stop calling. ID theft victims should focus on completing an identity theft affidavit, getting legal assistance, and writing quality dispute letters. Lyngklip & Associates provided “self-help” and “how to” resources for identity theft victims. If you need help using any of these resources or would like an attorney to provide no-fee services, call us at (888) 400-CREDIT or email us now.
Q: What Should I Do if My Identity Has Been Stolen?
A:
Q: What Should I Do if I Get a Call From a Debt Collector on a Fraud Account?
A: If you are getting calls from debt collectors about accounts that came from identity theft, you should dispute any charges in writing and keep good records of everything you do! After you have completed these steps, you should contact an attorney for help. An attorney can help you find out if there has been any damage to your credit history and whether any other creditors may be pursuing you for fraudulent accounts.
If you continue to see fraudulent accounts on your credit report after settling your identity theft issues, you have not resolved all the issues with your identity theft. Credit bureaus trade and resell the information to each other. False information on your report can appear in other reports and cause you to lose credit opportunities, employment, or promotion. Don’t hesitate to call an experienced attorney right away if you find false information in your report. Your issue may have not been fully resolved or your identity may have been stolen again.
Q: Should I Check My Credit Reports if I Think My Identity Has Been Stolen?
A: Yes! If your identity has been stolen, you should obtain reports from the major credit reporting agencies: Experian, Equifax, Innovis, and TransUnion. (You can use our free request letters. Do NOT order your credit reports online.) You should closely monitor these reports and dispute any new charges that show up for which you are not responsible. Additionally, many other credit reporting agencies maintain information about you, your banking, and your credit history. An attorney will help you identify all the possible sources of false information about you and begin the process of disputing that false information. If you would like to check these on your own, you can see our list of the most important credit reports to check or use one of our self-help letters to request these reports.
Q: Should I File an Identity Theft Affidavit With the FTC or CFPB?
A: If your identity has been stolen you should NOT file an affidavit without the assistance of an attorney. Many identity theft victims file these affidavits before they have all the facts and before they can be sure that they are victims of identity theft. These prematurely filed reports can come back to bite a victim later once all the facts have surfaced. An attorney will help you gather all the facts and help you to file an affidavit that accurately reflects what happened in your identity theft. Once you have filed an ID theft affidavit, the attorney can use the report to remove false items from your credit reports and stop any collectors from calling.
Q: Should I File a Police Report?
A: If your identity has been stolen you should NOT file a police report without the assistance of an attorney. Many identity theft victims file police reports before they have all the facts and before they can be sure that they are victims of identity theft. These prematurely filed reports can come back to bite a victim later once all the facts have surfaced. An attorney will help you gather all the facts and help you to file a report that accurately reflects what happened in your identity theft. Once you have filed a police report, the attorney can use the report to remove false items from your credit reports and stop any collectors from calling.
Q: What Should I Do if the Police Won’t Take My Report?
A: Don’t worry. The Fair Credit Reporting Act allows identity theft victims to use a police report to support claims of identity theft and block false information on their credit reports. The purpose of completing a police report is to establish that the victim of identity theft has submitted a report that subjects that person to prosecution if they lie about the identity theft. But, a police report is only one of several tools that identity theft victims can use to help clear their name. The other most common tool is an identity theft affidavit.
Under the Fair Credit Reporting Act, an ID Theft Affidavit submitted to the FTC can be used in exactly the same way as a police report. Specifically, if a victim of identity theft submits an FTC affidavit along with a dispute of an account, the credit reporting agency must block the accounts referred to in the affidavit and then send notice to the other credit reporting agencies notifying them of that same action. In the end, we recommend that victims of identity theft use the FTC affidavit instead of trying to file a police report because you can prepare it with the assistance of an attorney and it does not subject the victim to being rejected or improperly “interpreted” by police. You can find the FTC online affidavit here. If you need help completing your identity theft affidavit, feel free to contact our law firm today.
Q: How Can I Get Help With My Identity Theft?
A: Lyngklip & Associates has been helping victims of identity theft for over 20 years. We can help you too.
Q: How Much Are Your Fees?
A: We only charge a fee if we are able to recover for you, and The Fair Credit Reporting Act requires the other side to pay your attorney’s fees if you win. You pay nothing upfront and we take our fee from the other side.
If you’re facing a consumer law issue of any kind, please don’t hesitate to contact our firm today. We proudly serve communities throughout the state of Michigan, and we stand ready to help you, too.
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