Identify theft has become frequent and easy with the rise of e-commerce. Online payment made on a website that’s not secure allows cyber criminals to have easy access to sensitive data and use it against you. 1,244 data breaches were reported in 2018, leaving millions vulnerable to identity theft.

Other than the possibility of illegal activity being carried out under your name, identity theft also impacts your credit score and leaves you worse off. Here’s how you can fix your credit score following an identity theft:

File all necessary reports

The moment you suspect that something’s not right with your financial statements, look closer and compare your expenses as well as credit applications. Look into and note down any transactions on your financial statements that you don’t remember making.

Once a case of identity theft is established, file a report with the Federal Trade Commission (FTC) Identity Theft Bureau. Then move on to filing all the necessary documentation with law enforcement.

Get in touch with the credit bureau to inform them about your identity theft. They will place a fraud alert on your credit file, preventing hackers from opening any more accounts or applying for credit.

Request every major credit bureau to send a copy of your credit report. This will help you identify suspicious items.

Dispute suspicious items on your credit report

Identity theft generally results in unauthorized transactions. Your credit report will help you identify such transactions and you can go on to dispute them. Filing these disputes with the credit bureaus will improve your credit score and get rid of negative items.

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Keep clear records of all transactions

Once you have become victim to identity theft, it’s best to keep clear records of all your transactions. Keep copies of all the documents you collect while going through the process of repairing the damage done after your identity theft. This must include copies of reports filed as well as letters informing reporting agencies, medical facilities, financial institutions, etc.

You might also want to start keeping track of the people you’ve spoken to regarding your identity theft. Keep all such information in a safe place so you can get your hands on them when needed.

If you’ve been a victim of identity theft, you need the expertise of a credit repair specialist. Our experts at Masters Credit Consultants provide credit services in Anderson and Greenville to ensure your credit is rebuilt to the best of its ability. We dispute suspicious items on your credit report and get rid of negative items.

Call 1-844-620-8796 for more information about our services.