Identity theft is one of the most prevalent kinds of cybercrime in the world, and it leaves victims with the burden of dealing with serious and long-term implications associated with this kind of crime. For those who are unfamiliar, identity theft refers to the illegal using somebody’s personal information for the purpose of establishing a fake identity and making financial profits out of it. It may take victims of identity theft months or even years before their finances and details are back in order after their identities have been stolen. It could involve exploiting information from your driver’s licence, PAN card, residence, mobile number, or other identification documents. If you have recently used check my credit score and noticed a dip in your score, it could be because of this. Here’s how to ensure it never happens again:
Precautions to be taken to ensure Identity theft doesn’t happen again
In order to ensure you never have to check how to increase CIBIL score and lower your chances of identity theft by becoming more aware and using the following practices:
Don’t reveal any of your personal information. NEVER: People trying to steal your identity for their financial gains can frequently pose as a bank official or a debt collector and get you to hand over your passwords or bank account information over the phone or in person. It is critical to use caution when interacting with strangers. You should never give out your personal information to anyone without first consulting with an authorized bank employee. Remember that the bank would never ask you for your password or PIN, therefore anyone asking for it should be treated with suspicion.
Never open unconfirmed email links: You should be wary of bogus emails and links that appear to be from businesses or individuals you don’t know. It is critical not to click on any link or offer in the email. To keep your transaction and web surfing secure while browsing the internet, roll your mouse over the link to see the destination URL. This will assist you in avoiding malware, phishing schemes, and viruses that may attempt to collect your data and ensure when you check my credit score your credit score doesn’t take a hit. The majority of these emails pretend to offer incredible prizes or to request that you reset your account password.
Shred your old financial documents: It is preferable if you shred your old bills, credit card statements, and other information before disposing of them in the garbage. Although most individuals prefer email or SMS alerts for bill notifications, identity fraudsters continue to use dumpsters to collect personal information. It is critical to dispose of your personal and financial records in such a way that they are illegible and unreachable to anyone and in such a way you will also be improving your score whenever you check my credit score.
Do not carry all of your credit cards at the same time: You can reduce your chances of credit card theft by carrying only one or two credit cards when you go shopping. By carrying only the credit (and debit) cards you use on a daily basis, you can reduce the danger of losing them.
Keep an eye on your online accounts: If you haven’t already set up notifications for bank and credit card transactions if unusual activity happens, you should do so right away. Keeping track of your credit card purchases and payments, as well as bank transactions, can help you avoid identity theft and unauthorized transactions. Furthermore, use unique and strong passwords for each account to ensure that even if one of your accounts is compromised, the others stay secure.
How long does it take to repair my credit score following identity theft?
After identity theft, you might be wondering how to improve CIBIL score. However, credit repair may take days, weeks, or even months. The amount of time and effort you put into it is highly important in ensuring your credit score is back to what it used to be.
The type of theft is another aspect that influences how long it takes to repair your score. If you discover fraudulent transactions in one of your current accounts, the identity theft will be resolved in less than a day. However, if the identity theft was done to create numerous new accounts, obtain medical care, get a job, or rent an apartment, you may end up spending several hours trying to sort out the fraud over a period of six months. Similarly, if unlawful transactions have been conducted in your name and you have lost a considerable amount of money, you must file a police report and follow the legal recovery process.
How can you repair your credit report and score after identity theft?
As soon as you notice signs that you are a victim of identity theft and noticed a dip in your score after using check my credit score, start saving all of your documents and make a log of every phone conversation, message, and so on that may be related to the matter. The next step is to call the credit bureaus and inform lenders or creditors that they must verify your information before giving credit. Following that, you should cancel any fraudulent loans or credit cards that have been issued in your name. Finally, submit an identity theft report to banks and other financial institutions to clear your name when closing old accounts and starting new ones.
You must also file a police report and ensure that all fraudulent activity and transactions are documented. After filing the police report, you must contest any false claims made in your name. Similarly, you must notify your business associates or your employer that you will not be making any more payments to the account that is compromised due to identity theft. Keeping track of all of these processes might be difficult, but it is necessary to minimize the consequences.
Identity theft can be a distressing event, but by freezing your credit card, you can avoid data breaches and unauthorized access to your credit report and keep protected from illegal activity.
So we are saying
It is suggested that you shouldn’t take help from credit repair agencies and rather focus on rebuilding your credit the old-fashioned way. If you check how to improve CIBIL score, you will get several tips to do so and one such is to apply for fresh credit and repay it timely in order to build your credit score. Another point to keep in mind to fix your score whenever you check my credit score is by frequently checking your credit information report and keeping an eye out for any inconsistencies, misprints or possible instances of identity theft. If you spot anything of that nature, we would recommend that you bring the same to CIBIL’s notice immediately and get the errors rectified or get the concerned dispute resolved. But, keep in mind that it could take up to 30 days for the credit bureau to do the needful.
