Bad credit impacts every area of your life. It can make renting an apartment, securing a mortgage, or buying a car difficult and costly. A low credit score can even affect your ability to obtain employment in many fields. Fortunately, there are ways you can repair, and even freeze, your credit. Both are smart strategies to help increase your credit score and protect you from becoming a victim of identity theft.
Preventing the Need to Freeze Your Credit
NEVER give your social security number, date of birth, or bank account information to ANYONE who reaches out to you over the phone or via email unless you have first confirmed their identity and that they are legitimately contacting you (for instance, a credit card company who sees fraudulent activity may ask that you confirm your identity but will not ask for your full social security number). The IRS, police, mortgage company, credit card company, or other institution will not ask for this information over the phone. If someone threatens you, saying that if you do not give them the information or if you do not pay them then you will have a mark on your credit score or get into trouble, thank them for the notice and tell them you will take care of it. Then, reach out to the institution that stated they were contacting you (for instance if the person claimed to be from the IRS, call the local IRS office) and see if that institution was attempting to contact you. If you are still concerned about the legitimacy, see if there is a local brick and mortar that you can visit to speak with someone in person
We have seen and heard scams of people claiming to be the local police, stating there is a warrant out for your arrest, or that you will be in trouble if you do not call back. The police WILL NOT reach out to you in this way. There is a common scam where an IRS representative calls trying to verify information, or saying you owe money, the IRS WILL NOT contact you in this way. Some of the scammers who call have your address, phone number, and birthdate already. They are still scams. This is information they have collected from the internet or other means. There should NEVER be an instance where you are required to provide private information over the phone or via email. It might take more time and work for legitimate claims to be resolved by visiting an office or having you reach out to the institution separately, but it is better to be safe rather than sorry.
Repairing Your Credit In The State of Georgia
You’ve probably seen ads purporting to remove any and all blemishes from your credit report. Legally, no one can remove accurate information from your credit report regardless of its negative impact on you. Avoid companies that make promises and guarantees that seem too good to be true, require upfront payment, or suggest blatantly fraudulent actions like using a social security number other than your own.
The best way to improve your credit is to contact creditors as soon as you know you are unable to make payments. They’ll often work with you to establish a new repayment plan. Regularly check your credit report for inaccuracies. The top three credit reporting agencies will investigate claims of inaccuracies and remove or correct erroneous information. This process often requires you to submit supporting documentation.
Freezing Your Credit Report In The State of Georgia
The state of Georgia has a credit freeze law that gives residents the ability to place a freeze on their credit profile. For a nominal fee (no cost for victims of identity theft and senior citizens over 65), consumers can secure their credit report with a password. When a freeze is instituted, credit reporting agencies won’t release your credit report or score until you provide them with your password. While this can make it nearly impossible for an identity thief to open accounts in your name, there are a few limitations.
The freeze does not apply to law enforcement agencies, insurance companies, or existing creditors. Putting a credit freeze in place also means supplying each individual agency with your full name, current address (and addresses for the past five years, if applicable), copies of your driver’s license, and proof of residency.
The desire to repair your credit, boost your credit score, and avoid becoming a victim of identity theft has led to a plethora of expensive, and sometimes illegal, advice from a variety of unscrupulous companies. When you need help you can trust to get your credit back into good shape, call the estate planning attorneys at Grissom Law, LLC. The swift, professional, legal help you need is only a phone call away.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.