Can I increase my score by claiming identity theft? The purpose of this fraud alert is to inform you of a scam that involves falsely filing an identity theft claim for the purposes of improving one's credit report and credit score. The perpetrators are claiming identity theft and filing police reports causing disputed accounts to be removed from their credit reports either permanently due to lack of investigation or conclusion, or temporarily while under dispute. While the accounts are removed, credit history improves and credit scores increase dramatically. The perpetrator then obtains credit from one or more credit grantors during the time when the credit score is inflated. The loans obtained through the use of the improved credit history and credit score subsequently go unpaid. Identity theft definition is knowingly or not, when a consumer applies for credit using someone else's information that has been stolen. Another variation is to report accurate unpaid debt as fraud in order to avoid paying it. To do this, the consumer will have to fill out a police report and lie. This, too, is illegal.
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How to report identity theft to police Form: What You Should Know
Step 1. Identify the damage -- What happened? When you find that your identity has been hurt, you probably want to know the source of the damage. Identity theft may involve unauthorized use or loss of personal information, as well as fraudulent charges. The source of the damage is important because it will help you limit the possibility of making further mistakes. The Federal Trade Commission (FTC) recommends that you: a. Keep a list of the information that's been stolen including names, Social Security numbers, and/or other valuable personal information. b. Has someone who can provide you with access to this personal information. Step 2. Get a credit report and credit repair -- What to do. If you know where the other person got their identity, you can ask for a credit report and credit repair. The law requires that you: a. Have a credit file. b. Notify creditors. c. Send the credit reports (including free credit reports) and the creditor's notice about the identity theft to the five major credit bureaus: Equifax, Experian, TransUnion, and Experian Information Solutions. (If you've lost, misplaced or damaged a credit file with your creditors, you can try to get a duplicate from the bureaus.) If you use a credit card, you are legally obligated to pay any charges, interest, and fees related to fraudulent activity that were incurred after a credit file was created. If your charges were fraudulent, these creditors are likely to report the problem. When you pay with a credit card there is no statute of limitations to deal with these charges. If you don't pay on time or are late, the other party can report the cardholder fraud. Fannie Mae does not issue penalties for late payments, but it can report the loss or unauthorized use to various entities including creditors. It may also report fraud, including charges related to fraudulent activity. Step 3. File a chargeback -- What to do. You can ask for a chargeback if the other party is trying to charge you after it has been discovered that you are using your own card. The Federal Trade Bureau publishes a copy of the identity fraud report on its website. Once you receive the report from the FTC, you'll have the option to: a. Make a request in person to a billing center that issues credit cards.
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