Unknown Accounts on my report

Hi Ann,

It could be a case of identity theft. Somebody might have stolen your personal information to open new accounts in your name. You should take the following steps as soon as possible:

1) Call any one of the credit bureau and ask them to place a fraud alert on your credit report. This will prevent the thief from opening any other new account in your name.
2) Contact the credit companies, whose names are mentioned against the fraudulent accounts on your credit report. Tell them that you are a victim of identity theft and do not owe the debt
3) Send certified letters to the CC companies explaining the issue in details.
4) You should also file a complaint with the FTC by calling the toll free helpline number (877) IDTHEFT (877-438-4338) or you can file your complaint online on "www.ftc.gov"
5) Report about ID theft to the local police department. You must retain copies of the report you have filed.

You must check your credit report regularly, even after all the issues are settled. This will give you clues, in case there is any other case of ID theft.

Hi Ann

To raise your score which has gone down due to Identity Theft, you should dispute the fraudulent accounts with the credit bureaus. Send your Dispute Letter through certified mail. You should clearly mention all the 3 accounts that have been wrongly opened. Attach copies of the police report you have filed.

Under the FCRA, the credit bureaus should investigate within 30 days after receiving your Dispute Letter. They should also send you a copy of your credit report, after the errors are corrected.