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How does identity theft affect your credit?
Answer:
Identity theft can have a seriously negative impact on your credit.
When thieves steal your identity, they are likely to try to open a new line of credit in your name. If they succeed, they can make purchases with that card, and you will be responsible for the charges. Even if you dispute the charges, the unpaid bills will be reflected in your credit report.
Unfortunately, cleaning up a credit report after an incident of identity theft can be a long and costly process.
When thieves steal your identity, they are likely to try to open a new line of credit in your name. If they succeed, they can make purchases with that card, and you will be responsible for the charges. Even if you dispute the charges, the unpaid bills will be reflected in your credit report.
Unfortunately, cleaning up a credit report after an incident of identity theft can be a long and costly process.
First answer by PeopleFinders.
Last edit by PeopleFinders.
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