How to Repair Credit After Identity Theft

If you're a victim of identify theft, you may have a difficult time obtaining credit such as car loans, mortgage loans and credit cards. Fortunately, there are ways to fix your credit after an identity theft. In the end, you'll restore your name and credit score.

Instructions

1

File a police report. Identity theft is a crime, and thieves often leave a paper trail. The police can investigate the crime and find the culprit. However, local police may be limited in what they can do, particularly if the thieves work from out of state. File a complaint with the Federal Trade Commission's Identity Theft Hotline at 1-877-438-4338. The TTY is 1-866-653-4261.

2

Notify the credit bureaus. If you don't, the negative remarks and errors can remain on your credit report. The bureaus conduct their own research to determine whether the accounts are legitimate. The leading credit bureaus are Equifax, Experian and TransUnion (see Resources below)

3

Close any accounts the thieves may have compromised. Obtain new account numbers, including credit card numbers, bank account numbers and, if necessary, a new Social Security number.

4

Keep copies of all documents related to the crime. Depending on the number of fraudulent accounts opened in your name, identity theft can haunt you for years. Retain a copy of the police report and correspondences sent to the bureaus. Present this information to any creditors you acquire due to the theft.

5

Hire an attorney. The process of rebuilding your credit after an identity theft takes time. In some instances, you may need an experienced attorney to speed the process. He'll speak in your behalf and get the creditors off your back.

6

Maintain a good payment history. It's important to maintain your personal accounts.