Many victims glance at their credit reports with a blank expression on their face because high expenses, penalties, and fees are scattered across it. These people are in search of an answer and it may be identity theft that has occurred without their knowing. Clearing your name requires immediate action for identity theft restoration. First, you must acknowledge that these expenses are not yours and then you have to file the appropriate complaints with your financial institutions.
Acknowledge Identity Theft
Call in your information regarding the incident and have all of your accounts closed until further notice. Check your credit report for inconsistencies in your purchases then call the Federal Trade Commission to credit a fraud alert on any further purchases under your identity. Ask for confirmation and documentation of your file with the Federal Trade Commission because you will need it in closing all of your accounts with other institutions. With the fraud alert in place, the perpetrators can not use your information once accounts are closed or frozen. Restoration of identity theft will take a toll on anyone who uses their financial history to purchase their homes. Filing the appropriate complaints could slow the perpetrators down before hurting your history even more.
File Appropriate Complaints
File a police report with your local police department so it will be on file because you will need it in order to contact the Federal Trade Commission regarding the identity fraud crisis you are experiencing. Next, you must call all institutions with your contact information and this may include banks, insurance companies, and all of the leading credit bureaus so they will handle the situation accordingly. The Social Security Administration must receive a fraud notification while you are in the process of identity theft restoration. The incidents on your credit report will remain there unless there is further action taken with legal consultation. These steps take time and money if you are persistent in your identity theft restoration process through the next years that may last up to years.
Legal consultation might be required to further the removal process if credit card companies are reluctant to remove the information from your credit card report. Many people that have been victims of identity theft end up having to hire lawyers to have that period of time removed from their credit. Things like credit repair companies and different networks of businesses are not always legit. They sometimes, cause people to be sunk into debt because of their high interest rates. They may also tell you of how to get a new identity—why do that when you are trying to restore the one you lost? That alone is a large red flag on how fraudulent those types of companies may be. Identity theft restoration is the best way to grant yourself access to a worry-free nights of rest.