October 12, 2007, Newsletter Issue #82: Credit Identity Theft

Tip of the Week

Credit.com Tip: One of the worst things that can happen to a consumer is to become the victim of credit identity theft.  What makes this so incredibly difficult to deal with is that you often are not aware of the theft until months have past and the thief has taken out credit in your name and not made payments. Then trying to get this corrected can be quite the ordeal since you have to start by proving your innocence.  If you are the victim of credit identity theft, work with the creditor, and law enforcement to get your credit report fixed.  On occasion, you may get lucky and actually find the person who stole your credit.  Unfortunately, for most consumers though, this doesn’t happen.

In order to prevent identity theft from happening, obtain a free credit report. By doing so, you can catch any inconsistencies or problems. A free credit report can be obtained from either the three credit bureaus or at a reputable site, like Credit.com.

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