How to Restore Credit After Identity Theft

Cases of identity theft have grown exponentially. Once you discover you have become an identity-theft victim, the damage is already done. You might think that you have to spend a lot of money with credit repair companies or on software in order to repair your credit, but you don’t. Follow these steps to repair your credit after you have fallen victim to identity theft.

Instructions

Difficulty: Moderately Challenging

Things You’ll Need:

• Computer with Internet connection
• Copies of credit reports from all three credit reporting bureaus
• Copy of police report

1. File a police report that clearly states that you believe you are a victim of identity theft. Be sure to keep a copy of this report.
2. Get a copy of your credit report as soon as possible from the three major credit-reporting bureaus, Experian, Transunion and Equifax.
3. Go through each credit report individually and make certain that all of the information is correct.
4. Make detailed notes of information that is incorrect and information that appears as a result of identity theft.
5. File a dispute with each credit-reporting agency for each individual item. This can be done by filling out a form and mailing it in or by submitting electronically through the credit reporting bureaus' websites.
6. Be persistent. Follow up with the credit reporting agencies on a consistent basis.
7. Write down everything. Every conversation, every name, and every date and time is significant.
8. Stay focused. Identity theft repair is daunting; but you have to remain focused to ensure that the damage done to your credit is corrected.

Tips & Warnings

• Request that, in the future, you be contacted directly before any type of credit is extended.
• Only give personal information to trusted parties.
• Clean you Web browser and cache after entering personal information online.
• Never get a “merged” credit report. These reports are often incomplete.
• Do not send letters to creditors. They will just tell you to contact the credit reporting agencies directly.
• Never carry your Social Security Card with you.
• Always shred credit offers you receive by mail.