PLEASE HELP: Should I remove fraud alert?

[Anonymous]

I lost my wallet while on a walk in my neighborhood about 3 months ago. I became overly paranoid, and decided to file a fraud report right after losing it just in case somebody found my wallet and used my personal information maliciously (it had my ID in it).

A week later, my wallet was returned to my mailbox by a Good Samaritan containing everything including cash left in it. The problem is I had already filed a fraud alert at that point.

Now I'm stuck with a fraud report that is on my credit for no reason. I do not want to get denied when applying for credit, so I'm wondering if I should remove it or is it worth it to keep on there? Also, can I remove it by just calling the 3 agencies or do I have to mail in my personal documents (NOT comfortable with the latter).

Thanks in advance for your help!!

[Anonymous]

I'm not familiar with a fraud alert.  Does it last forever until you stop it, or does it expire naturally at some point?

I wouldn't think that it would be viewed the same way a dispute would and impact lending decisions. 

[blindambition]

Fraud alerts can certainly delay an automatic approval, due to extra verification steps. They can definitely be removed.

I know Wallet was returned, with everything intact. There's still a chance that someone could have obtained personal info. If you remove fraud alert, consider freezing reports. You'll have to thaw before applying, but protects you, and not as much of a hassle as fraud alert. Just contact each CRA to remove. 

[TattnallTrio]

I wouldn't remove the fraud alert. It'll naturally go away 12 months after you placed it. It is easy for people to pick up our information and the US Government had a massive data breach recently. Don't forget the Equifax data breach a few years ago. I am an advocate for fraud alerts. I have all 3 bureaus frozen but it is very easy to go through the Forgot Username And Password prompts for Equifax and TransUnion and a fraudster can unfreeze your reports. The fraud alert requires a process to have it removed. Keep it on, it's a very useful safeguard! 

[RobertEG]

Is it an initial fraud alert, or an extended fraud alert?

[Anonymous]

I would leave it for the 12 months. Yes sometimes you need to call in after submitting an application for verification but at least you know you have that extra layer of protection.