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Posted: Mon Feb 27, 2006 5:39 pm Subject: *Sigh* Why do we even bother?

When I was speaking with a representative of one of the credit reporting agencies, he said that anyone could just make up a social security number, send it in along with their name, and they might be able to obtain credit.

Perhaps the laws have changed in the four years since my identity theft, but companies must be held responsible for our troubles when they issue credit to the wrong person.

Here we are obsessing over our credit reports and some companies can't be bothered with checking a few basic pieces of information.

Everyone, regardless of whether they have credit concerns or not, should be checking their reports at least twice a year, in case someone out there was able to bypass notice of the discrepency between the names on the application and the credit report.

Posted: Mon Feb 27, 2006 5:59 pm Subject:

I have the same opinion as snow angel here. Along with credit checking, there should be some system that confirms the applicant has given all the right information.

This is more like an investigation. If anyone is using the account fraudulently, creditors also suffer a lot. The chance of getting the money back is very low. So this investigation will help creditors too.

Secured loan dealers often run credit inquiry that helps to understand if the borrower has provided all the information correct or not. However, these inquiries have an impact on credit score. What if the SS# verification is exempted from credit score calculation?

Posted: Mon Feb 27, 2006 6:00 pm Subject:

Very true, we all should make it a point to check our credit report regularly. The credit card statements must also be reviewed so that the charges placed in it are accurate by all means. If we do not review it properly, the thief will open up an account using our name. Scan for the signs of possible fraud by doing a through review of your credit report.

In the last few years, this identity theft has risen dramatically. You never know when your good credit will be stolen by someone and will leave you with all the negative consequences of it. Large balances and dealing with collectors when they call you are just a pain to deal with.

Those of you who are having their credit less perfect, check your credit and identify the lingering problems so that it becomes easier to deal with it effectively and move forward towards an improving credit rating.

Posted: Mon Feb 27, 2006 6:03 pm Subject:

This is the reason everyone should call the bureaus and tell them to file a fraud alert on your CR, so that anytime your SS# is used to get credit, you have to answer questions only you would know. I have done that, and it has worked well. It is a pain sometimes...like when I went to get a new cell phone, and the company had to get on the phone with me and ask me questions, they are crazy questions too sometimes, of course the answers to the questions are on my CR or record in some way, so they can verify that I am telling the truth.

Posted: Mon Feb 27, 2006 8:02 pm Subject:

I wish I would have known about that, so that I wouldn't have this weird account on my credit report! I guess I could do it now.

~Mary

Posted: Tue Feb 28, 2006 10:10 am Subject:

Posted: Tue Feb 28, 2006 10:55 am Subject:

Hi Stan,

Actually, I'm not sure, but I know this account isn't mine, and since it's a bank account, it makes me wonder if the person who stole my purse might have opened an account. I'll have to go back and look at the date of the theft and check it out...but it makes me wonder!! I will look into it and let you guys know what's going on.

~Mary

Posted: Tue Feb 28, 2006 11:16 am Subject:

Mary,

There are certain guidelines that one should perform when an ID theft occurs, please check it and do the needful ASAP-

http://www.debtconsolidationcare.com/forums/lost-wallet.html

I'm worried

Keep posted.

Posted: Tue Feb 28, 2006 12:25 pm Subject:

Hey Stan,

Now that I look into it, that account was placed for collection in 9/2004, my purse was stolen around 12/2003. So it is quite possible that somebody took my identification, got some kind of bank account or credit card from BofA, charged it up and left it. I moved right after that, so maybe they did try to notify me, I have no idea. I sent a debt validation letter, now I am wondering if I shouldn't have?

~Mary

Posted: Tue Feb 28, 2006 12:54 pm Subject:

Mary,

Did you file police report when your purse was stolen? You have to send copies of those reports along with a letter explaining your situation to creditors and credit bureaus.

Posted: Tue Feb 28, 2006 1:28 pm Subject:

I did file a police report...I guess I will have to get a copy of it somehow. I know I have the report number somewhere. Was I wrong in sending a debt validation letter to this company? I am not sure that I did the right thing now that this has been discovered.

~Mary

Posted: Tue Feb 28, 2006 1:33 pm Subject:

Asking the company to validate the debt is not a wrong move from your side. You have covered the legal basis by making the request. If the company sends any information, you will be able to prove that the particular details do not belong to you. You can show your actual proof to contradict the information in the account.

Posted: Tue Feb 28, 2006 1:33 pm Subject:

Thanks Carl Smile

Looks like one more thing I have to put on my to do list!

~Mary

Posted: Tue Feb 28, 2006 1:37 pm Subject:

IMO, you could make the process shorter if you had sent the evidence of ID theft at first. Better late than never�contact them ASAP and explain the incident. Hope they will be cooperative. Keep us posted.

Posted: Tue Feb 28, 2006 1:40 pm Subject:

I didn't even stop to think that the ID theft and this funky account could be related until it was mentioned on this site. Isn't that funny?! Now that I understand more on identity theft I see what might have happened. Also, I am much more careful on keeping my purse/wallet/whatever protected, so hopefully this won't happen again. I was pregnant at the time, so I was all confused and tired and I didn't pay attention to such things Laughing