8 Signs You’ve Been A Victim of Identity Fraud

Overcoming identity fraud is a stressful and time-consuming process. It can be scary because you're never sure of how far the theft goes. It's extremely important to monitor your statements and credit reports for any signs of identity theft so that you catch it before any real damage is done. If you're not sure what to look for, this blog will go through 8 signs you've been a victim of identity fraud.

1. There's An Address You Don't Recognize

- If your bank or lender has an address on file that you do not recognize, it could be a sign that someone is using your account information. Make sure that all address information is correct, and nothing is out of the ordinary.

2. There Is An Unopened Account On Your Credit Report

- This is one of the many reasons why obtaining your credit report is crucial to financial well-being. Knowing what your credit report should look like will make any errors easy to spot. The sooner you catch something fishy, the more potential damage you can prevent! Although it costs money to have access to your credit report, it can save you in the long run.

3. You Get Calls For Debts You Don't Owe

- We can tend to avoid unknown calls, especially if it's from 1-800 numbers. However, it's important to know why a collection agency is phoning you, in case the debt they're trying to collect isn't yours. These people will be on your side in you've been a victim of identity theft, and the longer you leave it, the harder it will be for you.

4. Your Credit Card Balance Doesn't Match Your Spending

- If you're the type to keep track of your spending, and your credit card balance seems off, it could be a sign that you've fallen victim to identity theft. Someone could have your credit card information and might be charging things to your card. Make sure you keep your detailed credit card statement and look for any items you did not purchase. If you notice anything on your statement that shouldn't be there, report your credit card as stolen and change your password. Usually, checking your statement and frequently changing your passwords is all you have to do to stay safe.

5. Your Credit Score Is Low Despite Efforts At Rebuilding

- If your credit score is lower than it should be, it's time to check your statements. Look specifically for accounts you didn't open, debts you shouldn't have and any contact information that does not belong to you. Any of this could mean that you are the victim of identity theft.

6. You Receive Statements For Credit Cards You Don't Have

- If you've received a credit card statement for a card that you've never applied for, it means that someone has opened an account in your name. You need to immediately call the credit card company and report this.

7. You Were Denied Credit Despite A Strong Credit Score

- Being declined for credit can mean that your score is too low. If you're surprised to hear this, it could mean that someone has opened accounts in your name and it's hurting your credit score. The best way to check is to get your hands on a copy of your detailed credit report.

8. Your Bank Statements Don't Match Your Spending

- If you feel like you’re missing money every time you look at your bank statements, you just might be. Carefully check your bank statements for anything that doesn't belong. Everything on your bank statement should make sense.

No one wants to be the victim of identity fraud, but know that it's not the end of the world. It's easier to deal with if you catch it early, so remember to be proactive in this area. Check out our previous post on what to do if you’re the victim of identity theft and get on it fast. Click here.

Have you ever found anything fishy in your financial accounts? How did you deal with it? Let us know in the comments.