How do Your Fix the Damage of identity Theft?

Some of the victims of identity theft have dealt with issues that were caused by the crime for years. Every time they thought they had resolved all of the issues created by the identity theft, a new one would pop up. Their lives became a constant struggle trying to figure out how to prevent identity theft and how to stop it from happening over and over again.

The types of identity theft

There are many different types of identity theft that people are dealing with. The amount of trouble you will face correcting the damage depends on how does identity theft happen to you. If it is a simple case of someone stealing your credit card and using the card to charge things, it is easy to deal with. The call to your credit card company is all you may have to do.

If you have had someone steal your social security number and use it to open up credit accounts in your name, the trouble you face is much greater. You may not discover this type of theft right away. By the time you do, the thief could have damaged your credit by running up large debts that are not getting paid. This requires a lot of time and effort to have the fraudulent accounts removed from your credit report. You will also have to deal with the collection agencies trying to get the money from you that they think you owe. It can be a very stressful situation.

No matter what type of identity theft victim you are you should not ignore the crime. This can cause the damage to continue for even longer.

Fixing the damage

In order to fix the damage from identity theft, you will have to report the crime. If you get an identity theft affidavit, it may make this process easier. The people you report the theft to can include:

• Your banks and credit card companies

• The credit reporting agencies

• Local and federal authorities
  

Prevent further damage

If you are a victim of identity theft, you can take one of two roads. You can hide in a room and stop trying to live your life or you can take steps to fix the damage and prevent it from happening again. The first think you should do is a credit check. With this you will be able to see how much damage has been done. Next, you can take steps such as putting a fraud alert on your credit reports. That step will prevent the identity thief from opening up any new credit accounts. The fraud alert can be left on your report indefinitely although it is typically in place for 30, 60 or 90 days. It is one of the best ways to prevent identity theft from happening again if you have been a victim.

You can also sign up for alerts with your banks and credit cards for any suspicious activities. These alerts will notify you know if someone is using your card that should not be using it. Another good tip is to use a service that allows you to monitor your credit report constantly. The faster you can discover identity theft the easier it is to stop and correct it.

Your life does not have to stop due to identity theft. It may not be horrible to deal with, but it can be done. The key is to react as quickly as possible to any fraud that you see. When you do this, your credit history will be yours and you will still be able to use it.

Jana Lynn is an active blogger who is fond of writing articles on credit monitoring and educating people to monitor their monthly credit report to prevent you to be a victim of credit fraud. Follow her on Twitter to know more on what can and can’t be used as Collateral.

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