Repairing ID Theft

Last year, identity theft affected almost 10 million Americans. The average victim loses $500 as a result of identity theft and is forced to spend over 100 hours working to clean up the mess.

Step 1: Stop The Bleeding

Step 2: Alert The Authorities

Step 3: Clean up Your Accounts

Step 4: Repair Your Credit

In 2008, 66% of identity theft cases involved credit card fraud, utilities fraud, bank fraud, or loan fraud; all crimes that can show up on a victims credit reports. When an identity thief opens a credit account in your name, it is your credit reports that will get dinged when the fraudulent accounts do not get paid.

Often times, the longest lingering effects of having your identity stolen are the negative items in your credit reports. If left alone, these negative items listings can remain on your credit reports for up to 7 years and can seriously impact your credit score. The most costly consequence of identity theft could end up being the higher interest payments you have to pay on credit cards or loans as a result of having a lower credit score. Repairing your credit becomes the final step in repairing your identity.

Read more about Identity Theft and Credit Repair

ID Theft Topics

Credit Monitoring Credit Repair Fraud Alerts Insurance Phishing Prevention Statistics