Use of a person's identification to gain credit without that person's knowledge constitutes credit fraud. Consumers must report any signs of credit fraud immediately. If you take the necessary steps at the first sign of trouble, your money and your credit score can be saved.
Types of Credit Fraud
Examples of credit fraud include using stolen Social Security numbers, state identification cards, credit cards, or personal bank and checking account without authorization.
Reporting Fraud
Report suspicious activity to the creditor in writing and by phone or Internet. If the activity in question appears on a credit report, it should be reported to all three credit agencies (Equifax, Experian, and TransUnion).
The Process
Reporting credit fraud can take a minimal amount of time. However, taking precautions to ensure the activity is erased and accounts are corrected can require additional steps.
Precautions
Cancel all affected credit cards and have your issuers provide you with new ones. Fraudulent charges should be erased after submitting the necessary documentation.
Additional Precautions
File a police report for additional support.
Fraud Alert
All consumers can place credit fraud alerts on their credit file. An alert can be either short-term or long-term. The three credit agencies (Equifax, Experian and TransUnion) have websites that allow consumers to request fraud alerts.
0 comments:
Post a Comment