Credit Repair - Recovering From a Fraud Attack

Have you ever been in the middle of a Fraud Attack? I have and it's no fun. It's not only a hassle to repair the damage done to your credit files but that personal feeling of being violated. After all your hard work to maintain a good credit score, paying your bills on time and just being a conscientious consumer, it all disappears in a matter of hours.

With technology comes the birth of the professional credit fraud rings. In most cases they won't attack your personal assets but they will open new charge accounts or charge fraudulently against one of your existing accounts. You are covered against loss under most credit card plans but to clean up this mess is time consuming.

By the time you sense something is wrong or you get a call from a creditor the fraud ring is packed up and gone. Swift and efficient if only our government could work in such a way. If there is any comfort in numbers realize your not alone. Millions of cases are overloading the fraud divisions and credit companies are losing billions per year to these thieves.

If you are a fraud victim repairing your credit is a little different than if you were behind or something of that nature. Take the following steps to rectify the fraud:

1. Get a free copy of your credit report
2. Identify the fraudulent accounts
3. Contact those companies and explain the situation
4. You will be sent a fraud affidavit - keep copies of everything
5. Contact the credit reporting agencies (3) - they will put a fraud alert on your credit files
6. You may be required to file a police report

This is very fixable, it may take a few weeks to fill out all the forms and contact the companies involved. Remember keep copies of everything.

This experience will certainly cause you to be more skeptical in the future about credit purchases. Could it have been the department store clerk or a on line purchase whom leaked you credit number. Use this experience to learn how the criminal worked and better yet how the credit system works.

Now if you are over extended and your credit is suffering because of that, this is another story. Credit repair has to take a different course. There are techniques and solutions to solve these situations. If you Click Here you will get more details on how to handle credit repair in this area.

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