Reply
Valued Contributor
ngerasimatos
Posts: 1,278
Registered: ‎06-01-2007
0

Finally recovered from Identity Theft and got my scores back to normal - So now what do I do?

[ Edited ]

So, its been a long time. Many years in fact. But I finally have almost all of the negative items on my credit reports removed that were due to Identity Theft.

 

It has cost me thousands of dollars and thousands of hours. I dont really care about the money, but the countless hours of dealing with creditors and collection agencies gets very tiring and causes stress.

 

Unlike some people, I was lucky that they actually caught two of the individual and prosecuted them. One was a repeat offender for Identity Theft, so with his prior strike against him he was sentenced to 3.5 years in prison. The other was a first time offender was sentenced to 2.5 years in prison. I personally dont feel either of these sentence were long enough, but I should be happy that they at least caught the individuals. I am sure that they are both going to come out and do the same thing again. Even the prosecutor said that is usually the case. if you take a tiger out of the jungle, it doesnt make it any less of a tiger. Does it...?

 

In any case, there are only 2 items left to be removed from my reports, both items are large collections. One is a $2500 collection and the other is a $5000 collection, both are fairly recent (within that last year) so I assume they are affecting my score tremendously. My scores are currently hovering around the low-mid 600 range, though I am not sure what my EX is "exactly" as I can only base it on what their own website shows. After these collections are removed and my CC balances update (paid everything off this last month) I am sure my score should be right back to where it was many years ago (mid-high 700's)

 

The only CC's and loans I currently have are as follows, all CCs are paid off and no lates showing. My credit history goes back roughly 9 years. I live in CA:

 


Capital One $1500
HSBC $750
Continental Finance $500
Plains Commerce $500
Toyota/Lexus (installment loan for my Lexus) - balance owing is $32k, orig amount financed was $54k
Student Loans (Dep of Education) - 18k in repayment 

 

 

 

So, where should I begin? Its been so long since I have had decent credit I dont know where I should start to get a good credit card with a decent credit line. My annual salary is 150k, am not married, have no kids. I guess this is probably why I never felt the "burn" from having bad credit. My income always kept me afloat. 
In any case, I looked on www.whogavemecredit.com and reviewed the information on whom applied at which banks, and their outcome. However, I would rather hear from my fellow MyFico members about who they recommend.
Also, as a suggestion. Perhaps MyFico should put together a packaged for members and people like myself whom suffer from Identity Theft, allowing us to pull our credit scores at a lower rate. I know the benefits of pulling my reports through MyFico helped greatly. I loved the dispute letters. It made it much easier to submit my disputes and view things in a much more logical fashion as compared to many other reporting sites. 

 

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}