How to Eliminate Credit Card Debt Due to Fraud
Credit card fraud is very common, and it can rack up debts that impact your credit report and your entire financial situation. Your credit score can be hurt, and collectors may harass you to pay credit card debts that do not belong to you. Fortunately you can take steps to eliminate credit card debt due to fraud. This can be time-consuming, but the effort will pay off when the fraudulent debts are eliminated.
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Instructions
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Contact your credit card issuers immediately if the fraud involves any of your current credit accounts. You will find a 24-hour number on the back of your card or on your statements. Let the issuer know that your card is being used fraudulently and that you will not take responsibility for the debt. The issuer will close the credit card so no further debt can be incurred.
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Contact the police and fill out police reports detailing the fraud that has been committed against you, resulting in credit card debts on current accounts or fraudulent new credit cards. This documentation will help you prove that you are a victim if creditors attempt to hold you liable for those fraudulent debts so they can be eliminated from your records.
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Put a fraud alert on your credit reports with the three major credit bureaus. Notify Experian, Transunion, and Equifax to let them know you are a fraud victim and to add this information to your reports. This will provide additional backing to eliminate fraudulent credit card debts.
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Review your credit reports, identifying and disputing any fraudulent accounts. Fraud victims are entitled to free copies of their reports to check for this sort of activity. Immediately file a dispute with the credit bureaus for any fraudulent accounts you find.
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Contact the issuer of any fraudulent credit cards you find on your credit reports. Let them know that you did not open these accounts, and send them copies of your police reports to prove that you are a fraud victim and that you are not liable for the debt. Demand in writing that they stop reporting the debt on your credit reports or linking it to you in any way.
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Demand proof of the debt if you are contacted by a collection agency trying to collect on a fraudulent credit card debt. Send your police reports and other documentation proving you are not liable for the debt. Let the collection agent know he must eliminate it from your records because it is not your debt.
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Tips & Warnings
When you are dealing with credit card fraud, you can freeze your credit so no further credit card accounts can be opened in your name. This will eliminate any future fraudulent credit card debts while you work on eliminating the ones that have already been incurred. You can do a temporary "thaw" if you need to open a legitimate account yourself.
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