How ID Theft Victims Can Repair Their Credit Rating

When credit reporting agencies report detrimental and WRONG things about you, (bankruptcy, arrests, late and non-payment of debts, etc.) it can severely affect your life. You find that you suddenly:

1. Have difficulty renting an apartment and getting a job.
2. Are charged higher interest rates on your credit cards, loans and utilities.
3. Are denied a cell phone contract, financing and loans of all kinds.
4. Are charged higher and/or supplemental security deposits on utilities.
5. Are charged higher insurance rates if you can get insurance at all.
6. Start getting calls from creditors and bill collectors to name just a few.

If you then search for the cause of this sudden down-turn in your life and find that the agencies are reporting inaccuracies about you, you'll want to correct them as soon as possible. A victim of ID theft can request the agencies to block and/or reinvestigate fraudulent items on their account. Contact them at:

Equifax fraud div, 1-888-766-0008, PO Box 740241, Atlanta, GA 30374

Experian fraud, 1-888-EXPERIAN, PO Box 2104, Allen, TX 75013

Trans Union fraud, 1-800-680-7289, PO Box 2000, Chester, PA 19022

TeleCheck Forgery, 1-800-710-9898, PO Box 4451, Houston, TX 77210

The Agency may instruct you to write a letter, use an online form or they may mail a form with your confirmation or file number. Use certified mail, return receipt requested, when you correspond with them.

You will receive one of three responses:

1) Agency notice stating that they are terminating a reinvestigation (of the information you are disputing) because they determined that the dispute is frivolous (or irrelevant) because you failed to provide sufficient information to investigate your claim. They will inform you in writing giving their reasons and identifying any information needed to investigate the claim. You have 30 days to submit further information. To be safe, figure 30 days from the date on their notice. They then have up to 45 days to make a further determination.

2) Agency notice stating that disputed item has been deleted from your file and including a revised copy of your credit report. If requested, they will notify any person you designate who received a report for employment purposes within the last two years, or within the last six months for any other purpose. If you want them to do this, send a letter requesting notifications.

3) Agency notice stating that disputed item has been reinserted into your file because the provider certified the information was complete and accurate. You may have a brief statement of dispute (100 words or less) included in your file. If requested, Agency will provide a description of the procedure used to determine the accuracy and completeness of the information. Agency will give you the provider's business name, address and telephone number.

You will then have to proceed with creditors directly.

1) At the outset, creditors have no way of knowing if you are truly a victim of ID theft or a customer out to defraud them. You have to help them make that determination. How? Proof. Make your proof substantial, enough to convince the creditor that you are the victim of someone else's fraud and that, if they took their case against you to court, they would lose. Carefully listen when the creditor tells you what documentation they had in order to open the account because those things are what you will have to counteract and refute.

2) When you approach them, understand that they prefer NOT to become the "other" victim of this crime. Clearly, you are not to blame for this problem and it is not your fault, but that's not the point here. The point is that they already view you as an adversary while you need their help and cooperation, their willingness to accept the loss. So you simply cannot afford to antagonize them further. If they choose to, they can throw rocks in your path every step of the way. So talk to them. Call them and ask for their help. Ask them what it is that THEY need from you. Approach them in a calm, unemotional, business-like manner. But don't bury them in form letters and correspondence. Above all, don't throw demands at them, or legalese. And, if they DO let you off the hook, don't expect them to write confirmation letters; do that yourself. In short, do everything you can to take the burden off of them. Make it easy for them to be helpful to you.