What to Do if You Spot Fraud on Your Credit Report

You have taken lots of steps to make sure that you keep your expenses in line with your earnings. You may borrow money on a credit card from time to time, but you always make sure to make minimum monthly payments when those payments are due. You are proud of the credit history and your 3 credit scores that you have built for yourself, and you know that it will serve you well in the future.

When you need to buy another car, for instance, you will be able to get the lowest interest rates on its financing. That may make the difference between getting a car you are all right with and a car that makes you happy to ride around in and show it off! If you plan on buying a home anytime in the future you know that your good credit history will have a lot to do with being able to qualify for a loan.

But what happens if someone steals your identity and commits fraud? Then you have a big problem on your hands. You know that if this happens most credit agencies will be happy to help you resolve things and even get back some of the money that may have been stolen from you.

Maybe you feel like you take good care to protect your identity. You constantly change your bank and credit card account passwords. You are even vigilant about changing e-mail passwords regularly. Yet, even the best practices for stopping identity theft can sometimes get tripped up.

In the event you are a victim of identity theft, do you know what you would do? Of course, your first step would be to close any credit cards that were affected by the theft. But, what about alerting the credit bureaus?

In addition to paying your bills on time and making sure you earn enough to pay your bills, you need to employ an additional tactic regarding the protection of your credit. You can do this by checking your credit report a few times each year.

Everyone is entitled to get one free credit report from TransUnion, Experian, and Equifax each year. You can also pay to have additional reports pulled. Check these reports and items on your credit history carefully.

If anything looks odd, contact the agencies to put a freeze on your credit report. Then, with the help of the agencies, work to clear up any fraudulent items that you find.

Wen Wei Max

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