| Nowadays more and more people face the | | | | When the credit bureau proves your fraud |
| problem of identity theft. How can you | | | | alert, it will contact the other two. So they |
| realize that you are a victim of identity | | | | will place an alert on their versions of your |
| theft and what can you do to solve this | | | | report, too. If you are not asked, the credit |
| problem? | | | | account wouldn't be opened. |
| | | | |
| If your credit card statement includes | | | | It should be mentioned that it's up to you |
| charges for things you never bought, or you | | | | what kind of fraud alert to choose. |
| get a call (letter), informing that you have | | | | |
| been approved or denied credit for accounts | | | | If you have chosen initial alert, it will |
| that you never applied for, then you are a | | | | remain on your credit reports for 90 days. |
| victim of identity theft. | | | | While the alert is on your file, perhaps you |
| | | | won't be able to get instant credit. When you |
| Identity theft means that someone uses your | | | | file an alert, you will be eligible for a |
| personal identifying information, like your | | | | free credit report from each of the three |
| Social Security number, or credit card | | | | credit reporting agencies. |
| number, without asking you, to commit fraud. | | | | |
| | | | As far as extended fraud alert is concerned, |
| If you are a victim of identity theft, you | | | | it will remain on your credit file for seven |
| are to put a fraud alert on your credit | | | | years. However, you can ask to remove the |
| reports and review them. A fraud alert is | | | | fraud alert before seven-year period run out. |
| something that credit bureaus attach to your | | | | The only thing you need is to make this |
| credit report. First of all, you are to speak | | | | request in writing and provide information to |
| to the fraud department of one of the main | | | | confirm your identity. These procedures are |
| credit bureaus (Transunion, Equifax, and | | | | planned to prevent criminals from removing |
| Experian) to place a fraud alert on your | | | | fraud alerts from victims' accounts. |
| credit file, plus a victim's statement asking | | | | |
| that creditors call you before granting | | | | A fraud alert provides some protection |
| credit or other services. | | | | against identity theft, but not in all cases. |
| | | | It will not help you when an identity thief |
| Victim statements may cause delays in getting | | | | uses your existing credit cards or other |
| credit while the creditors try to contact | | | | accounts. And it will not help you when an |
| you. When you open a credit account by | | | | identity thief opens new accounts in your |
| getting a new <a href=" | | | | name that do not require credit check. |
| target="_blank">credit card</a>, the | | | | |
| lender will contact you to make sure that you | | | | So, identity theft is very serious. Many |
| really want to open a new account. | | | | victims of identity theft spend much money |
| | | | and time repairing damage to their good name |
| Fraud alerts help to prevent an identity | | | | and credit score. |
| thief from opening new accounts in your name. | | | | |