Identity Theft And Your Credit Score

<h1>Identity Theft And Your Credit Score</h1>Author: <a title="Bernard Pragides" href="http://www.articlesbase.com/authors/bernard-pragides/34931.htm">Bernard Pragides</a> In this day and age one of the most common types of crimes being committed the world over is identity theft. Therefore, it is important that you protect yourself against identity theft. Moreover, you need to know what you must do if you find that have become the victim of identity theft. Through this article you are provided information about how identity theft can impact your credit score. You are also provided with information about what you need to do in order to deal with your credit score after you have been the victim of identity theft. As an aside, you need to understand fully how crucial your credit score is when it comes to being able to get a loan – or even a credit card. The fact is that a financial institution considering extending to you credit of any type will first look at your credit score. If your credit score does not meet a minimum level, these lenders will look no further. You also need to understand that many other businesses look at your credit score before they will do business with you. This includes insurance companies and even some employers. One of the insidious effects of being the victim of identity theft is the fact that this type of crime can do serious damage to your credit report and to your credit score. Indeed, you very well may see your good credit score plummet into the poor range in no time at all if you are the victim of identity theft. Therefore, when you have been the victim of identity theft you need to contact the three major credit reporting agencies to advise them of the situation. The credit reporting agencies will put what is known as a fraud alert on your credit report. Through the placement of a fraud alert you will be able to prevent further harm and damage to your credit score. Keep in mind that the work to correct your credit score is not concluded with the placement of a fraud alert. You must file an appropriate affidavit with the credit reporting agency (actually with all three credit reporting agencies) advising them in detail of the situation and that there is erroneous data on your credit report that needs to be changed and corrected. Ultimately, when these corrections are made (and you need to follow up regularly to make sure this does happen) your credit score will return to a more "normal" and pre-identity theft level.About the Author: Author and internet entrepreneur Bernard Pragides offers expert advice and tips regarding identity theft. Learn more about identity theft and fraud by visiting his identity theft blog at <a href="http://www.LifeLockBlog.com"> <a target="_blank" href="http://www.LifeLockBlog.com">http://www.LifeLockBlog.com</a></a>.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/security-articles/identity-theft-and-your-credit-score-809598.html" title="Identity Theft And Your Credit Score">Identity Theft And Your Credit Score</a>

In this day and age one of the most common types of crimes being committed the world over is identity theft. Therefore, it is important that you protect yourself against identity theft. Moreover, you need to know what you must do if you find that have become the victim of identity theft. Through this article you are provided information about how identity theft can impact your credit score. You are also provided with information about what you need to do in order to deal with your credit score after you have been the victim of identity theft.

As an aside, you need to understand fully how crucial your credit score is when it comes to being able to get a loan – or even a credit card. The fact is that a financial institution considering extending to you credit of any type will first look at your credit score. If your credit score does not meet a minimum level, these lenders will look no further. You also need to understand that many other businesses look at your credit score before they will do business with you. This includes insurance companies and even some employers.

One of the insidious effects of being the victim of identity theft is the fact that this type of crime can do serious damage to your credit report and to your credit score. Indeed, you very well may see your good credit score plummet into the poor range in no time at all if you are the victim of identity theft.

Therefore, when you have been the victim of identity theft you need to contact the three major credit reporting agencies to advise them of the situation. The credit reporting agencies will put what is known as a fraud alert on your credit report. Through the placement of a fraud alert you will be able to prevent further harm and damage to your credit score.

Keep in mind that the work to correct your credit score is not concluded with the placement of a fraud alert. You must file an appropriate affidavit with the credit reporting agency (actually with all three credit reporting agencies) advising them in detail of the situation and that there is erroneous data on your credit report that needs to be changed and corrected.

Ultimately, when these corrections are made (and you need to follow up regularly to make sure this does happen) your credit score will return to a more "normal" and pre-identity theft level.

Author and internet entrepreneur Bernard Pragides offers expert advice and tips regarding identity theft. Learn more about identity theft and fraud by visiting his identity theft blog at http://www.LifeLockBlog.com.

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Article Tags: identity theft, identity theft protection, investment, financial information, credit score, credit reports

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