Identifying theft can have a significant impact on your financial life. This can include the loss of money, damaged credit, and a tarnished reputation.
These losses can be challenging, but an identity theft lawyer can help. They can help you secure your accounts, put fraud alerts on your credit, and start a credit freeze to prevent new identity thieves from opening accounts in your name.
Removing False Information on Your Credit Reports
If you find false information on your credit reports, such as unauthorized accounts, fraudulently opened credit cards, or other debts, it’s important to dispute it with the credit bureaus. It’s free to do, and the process should take no longer than 30 days.
Disputes to credit reporting agencies should include documents supporting your position and explaining why you believe the information is incorrect. Your letter should be sent by certified mail and have a return receipt requested.
The credit bureaus must either reinvestigate the disputed information or delete it within three business days of receiving your dispute. They must also provide you with a new copy of your credit report within five business days after they delete the item.
Accurate negative information such as late payments or bankruptcy stays on your report for a long time, often up to seven years. It can’t be removed by a credit repair company or credit bureau until that term expires.
Filing a Police Report
Identity theft can leave you financially devastated, especially if your identity is stolen by scammers who use it to open credit cards and loans. Moreover, the damage can affect your credit score and reputation.
If you are the victim of identity theft, filing a police report will help you resolve your case and protect your credit. This will also allow you to take other steps to recover from financial loss, such as disputing fraudulent charges on your credit report.
You should file the report with your local police department immediately. Often, this is the only way to ensure that police officers are adequately equipped to handle your case.
Resolving Credit Issues
Working with an identity theft lawyer is the best way to resolve credit issues after identity theft. They can help you remove false information from your credit reports. These close accounts have been tampered with, and take legal action against creditors not complying with the Fair Credit Reporting Act.
In addition, they can help you secure additional credit protection for your future. For example, a lawyer can work with you to request that the credit reporting agencies put a security freeze on your credit report, which prevents new accounts from being opened in your name.
Victims should also keep track of all contact with creditors and credit bureaus. This can help them to resolve the problem as quickly as possible.
Filing a Lawsuit
If you have been the victim of identity theft, your financial losses can be significant. An experienced identity theft lawyer can help you recover from the damages you have suffered.
Your attorney can assist you in filing a lawsuit against the person or persons responsible for your loss. This can be done under federal or state laws, and you may also be entitled to restitution for the damage caused.
Compensatory damages are often awarded to identity theft victims, including monies wrongfully taken from your account, interest on those accounts, and any other financial losses you have incurred. In addition, you may be able to receive emotional damages for any anxiety you have had due to the theft.
An identity theft attorney can also assist you in contacting banks, creditors, and debt collectors to make a notification about the theft. These entities have a legal obligation to provide information based on the type of theft.
