How to Repair Identity Theft Credit Damage

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Categories: Finance | Fraud | How Tos

  • Anyone can have their identity stolen, no matter their age, financial status or where they live. There are many types of identity theft used for different purposes. Many types will impact your credit reports and credit score negatively. Recovering from damage to your credit due to identity theft can be a complicated and long process. This page takes you through the steps of how to repair identity theft credit damage.

  • Introduction

    (Creative Commons photo by Andres Rueda)
    • Recovering from identity theft is a long and complex process. During this process, make sure you keep a record of all conversations and contact all appropriate businesses and agencies as soon as possible.

  • Step 1: Things to Keep in Mind

    • There are several things to keep in mind before you make your first phone call about the identity theft. You should keep a detailed record of all conversations with credit card bureaus, banks and other companies and agencies regarding the identity theft. Following these steps will make it easier for you to get help and will provide you with a record of the conversations and proof of what was agreed on.
    1. Make detailed notes about each conservation, including what was discussed and agreed on, who you talked to (full name, division and phone number or extension, if possible) and the exact time of the call/meeting.
    2. Also confirm all conversations in writing. You can do this by e-mail or mail, as long as you write down the exact agreements made during the call and the above information.
    3. Send all mail certified with a return receipt to confirm delivery and have a proof of it.
    4. Talk to the right person, whether contacting an agency or company. You should ask to speak to someone who specializes in fraud, and if possible credit card fraud.

  • Step 2: Initial Actions

    • There are are some initial steps to take as soon as you realize or suspect your identity has been stolen.
    1. Freeze your credit reports. This will usually prevent the identity thief from opening accounts, credit lines and similar in your name, since the bank or company will not be able to access your credit card report. You will still be able to access your report, and you will also be able to temporarily lift the freeze if needed. This option is not available in all states. You will need to freeze it with the three credit reporting agencies Equifax, Transunion and Experian.
    2. You can place a fraud alert on the credit reports instead. You only need to contact once agency; it will be required to alert the other ones.
    3. Close the accounts subject of the identity theft. File a form to dispute unauthorized charges or send a letter requesting the company to do so if there is no form.
    4. If you believe the identity thief filed a change of address form in your name, contact the post office.
    5. If you believe your social security number was used, contact the http://www.ssa.gov/ Social Security Administration.
    6. If you believe your driver license number was used, contact DMV. Ask for a new license with a new license number.
    7. Contact http://www.fcc.gov/ FCC to file a complaint form and an identity theft report.
    8. File a police report.

  • Step 3: Repair

    • Unfortunately, repairing identity theft is rarely as quick and simple as the above recommendations. Banks, credit card agencies and debt collectors will need you to prove that you were the subject of identity theft before closing accounts or discharge charges.
    1. You might have to deal with debt collectors. If they contact you, make sure to ask about the name of the creditor and the amount of the debt they are contacting you for. Ask to speak with a fraud investigator.
    2. Don't pay any amount on fraudulent charges on your bills.
    3. When contacted regarding the identity theft, ask for the person's name and extension and call back through the company's main phone number. Remember, the person contacting you might not be who they claim to be.
    4. You can block unauthorized charges and debts as a result of the credit card theft on your credit reports.
    5. If you are threatened by collection agencies, contact the Better Business Bureau.
    6. For more information, consult these sources:

  • Conclusion

    • Repairing identity theft is a complicated and long process. Be patient, keep records of all conversations and don't pay off any unauthorized charges on your bills.


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