When it comes to your financial health, unexpected issues like identity theft or credit reporting errors can incite a panic. Most likely, you have many questions about your options, and you need them answered right away! We have compiled this list of answers that can help you alleviate your anxieties and get started on a game plan – knowledge is power, and you need power to take your life back.
If you still have questions after reading through our page, we encourage you to reach out to Loker Law to book a free, no-obligation consultation and learn more about how we can help you reclaim your finances and your future!
How can I identity potential identity theft scams?
Identifying potential identity theft scams involves staying vigilant and recognizing warning signs like unsolicited phone calls, emails, or messages asking for personal information such as Social Security numbers, bank details, or passwords. Be cautious of offers that seem too good to be true, especially from unknown sources. Scammers may create fake websites or impersonate legitimate organizations to trick you into entering sensitive information.
Always verify the authenticity of the request by contacting the company directly using known contact details and never click on suspicious links or open attachments from unfamiliar senders. Additionally, regularly monitoring your credit reports can help spot any unusual activity early.
What information should I monitor after resolving my credit issues?
After resolving your credit issues, it’s important to monitor several key areas to ensure your credit remains protected. Regularly check your credit reports from the three major bureaus—Equifax, Experian, and TransUnion—to ensure all information is accurate and up to date. Watch for any new accounts or inquiries that you did not authorize, as these could indicate fraudulent activity. Keep an eye on your credit score, as it provides a snapshot of your financial health. Also monitor your bank statements, credit card statements, and any financial accounts for unusual or unauthorized transactions. Setting up fraud alerts or credit freezes can also help protect against future identity theft.
How do I know that I was a victim of identity theft?
The best way to monitor for identity theft is to regularly check your credit report for suspicious activity. In addition to being vigiland about your credit report, you can keep a look out for a number of signs that you could be an identity theft victim, including unauthorized transactions, tax return issues, and unexplained decreases to your credit score. Often, thieves will test the waters with small transactions, so look carefully into any discrepancies you notice, even if they seem marginal.
How was my identity stolen?
People commit identity theft through avenues such as phishing, mail theft, form jacking, card skimming, and many more methods. There are many ways that identity theft occurs in our technology-saturated world, so it is important to stay vigilant.
What should I do if I suspect I am a victim of identity theft?
If you notice suspicious activity, or you think that your identity may have been stolen, take action immediately. There are three things you should do right away:
- Contact the company that maintains the account you believe to have been tampered with. You can find their contact information on your billing statements (if you have been getting them), your credit report, or online.
- Place a fraud alert on your credit report. This can stop identity thieves from opening new credit accounts in your name without your consent.
- Equifax – this can be done online at https://my.equifax.com/consumer-registration/UCSC/#/personal-info or by calling (800) 525-6285.
- Experian – online at https://www.experian.com/ncaconline/fraudalert or
- Trans Union – online at https://fraud.transunion.com
- Contact a consumer protection attorney (not a service or company) to discuss your legal options. Many attorneys, including Loker Law, offer free consultations so you can learn about your options and how representation can benefit you. An attorney can help you with the above steps and more.
Can I afford a lawyer to help with my identity theft case?
Yes, you probably can—and here’s why: many lawyers who handle identity theft cases work on a contingency basis. That means you don’t pay anything upfront. The attorney covers the costs as the case moves forward, and they only get paid if you are awarded damages. If the case doesn’t work out, you don’t owe anything. So don’t let money worries stop you from getting the help you need!
What if my child was the victim of identity theft?
Children are often targeted for identity theft because they typically have no credit history and no reason to monitor credit activity. This allows thieves to open fraudulent accounts in the child’s name, sometimes for years without being detected. As a preventive measure, parents can place a freeze on their child’s credit reports to block the opening of new accounts, but if your child was already victimized, call us as soon as possible to discuss your next steps. We can take legal action on their behalf!
Will paying off my debt immediately improve my credit score?
First of all, paying off your debt is always in your best interest. That being said, you might not immediately see the beneficial change in your credit score. In some cases, you might lose points immediately after paying off all your debt, but this situation will not be permanent. However, in the long run, you will see a marked improvement.
How long do I have to fix inaccurate credit reporting?
Under the Fair Credit Reporting Act, you must act quickly to resolve credit reporting issues. You have 2 years from the date you discover the issue or 5 years from when the violation occurred, whichever comes first, to file a lawsuit. Since disputes and responses can take time, it’s crucial to address inaccuracies as soon as possible to preserve your rights.
