Restoring credit after identity theft
Restoring your credit standing after your identity has been stolen can be a very difficult process. Many potential homeowners have been turned down for loans because of damage to their credit caused by having their identity stolen. Although it is very difficult and time consuming, it’s important that you fix your credit report as soon as possible. If you don’t you could end up losing thousands on your next mortgage loan. Or worse – not be approved for a loan at all.
It's critical to dispute any error that you see on your credit report. If it is identity theft, you should contact your local authorities and obtain a police report so that the matter can be investigated and also to show to lenders.
When working the restore you credit the first thing you should do is obtain a copy of your credit report through all three of the credit bureaus to find out what is fraudulent and incorrect and what is not. The three credit bureaus are TransUnion, Equifax, and Experian. You can obtain a free annual credit report without any charge one time per year. After you have discovered what is in error or fraudulent you will need to write each of the credit bureaus that is reporting the incorrect or fraudulent information and dispute it with them. If you have proof of the fraud or incorrect information, it is highly recommended to send that information along with your dispute. If you would like this all can be done online too and you can fill out the dispute forms and submit them online to save some time. You will still need to mail or fax any helpful documentation over as soon as possible too. This can prove to be a timely and difficult process for you to handle alone. There are many attorneys and credit repair companies who can help you to handle this for a minimal fee. Also, many mortgage professional can help out and "hold your hand" per say, throughout the process and help answer questions and lead you in the proper directions. Contact Milwaukee Mortgage Broker by emailing [email protected] with your situation to find help or to find out how and where to begin.
Identity theft affects thousands of Americans every year. While you are in the process of restoring your credit, you should also try to get into good habits. Habits such as shredding all documents that may have sensitive information on them, verifying companies before giving out personal information, and canceling all accounts if you have lost or misplaced your credit cards or bank statements. Also, be sure that the website is a reliable site to give your credit card information to if you are using the internet to make purchases. These are just a few ways to prevent identity theft from happening again.
If you are so inclined to submit personal information via the internet, make sure it is done in a secure environment. If you are filling our a form online, make sure the website address begins in "https://". This is a secure site. You can also look for the "padlock" in the bottom right hand corner of your internet browser's status bar. If you see one, double click on it to see important information about the website's author/host.