If your credit has recently fallen into the wrong hands, there is some good news. You can place a fraud alert on your credit reports to help stop the fraud from continuing.
A Fraud Alert acts like a red flag in your credit report, observable only by businesses that may run your credit report for the purpose of issuing lines of credit. You only need to contact one of the three major credit reporting bureaus below to have a fraud alert placed.
Transunion Credit Services
Equifax Credit Services
Experian Credit Solutions
Ask them all to flag your credit history for fraud. These companies share information, therefore calling one notifies all. I about 24 hours, the alert will be attached to your credit history along with your name will be taken off pre approved insurance & credit card lists for approximately 2 years.
Kinds of Fraud Alerts
A “First alert” will be active in your credit file for 3 months. Use this if someone has obtained access to private information that may possibly be utilized to open accounts within your title, for example your own SSN or your birth date. An initial alarm is proper in case your wallet is stolen or should you’ve been used by a “phishing” rip-off.
An “Extended Alert” will be used in case your identity is stolen. With the alert, your credit history will stay safeguarded for seven years. To be able to be qualified for a long fraud alert, you’ll have to supply evidence of identity theft, like a police report. Your identity must be verified by potential creditors before offering credit, once an alarm of any sort is in place. Supply them with a telephone number where you are able to be readily reached, and you ought to keep this number present to reduce delays in issuing you credit. The alarm will make certain you’re the sole one opening accounts inside your name. Some credit monitoring services will assist you in placing fraud alerts on your accounts as part of their monthly membership fee.
Notify your lender, if you want to submit an application for credit while your credit history is on alert.