3 signs there may be a problem with a credit report

On Behalf of | Jun 3, 2019 | Consumer Protection |

Consumers in Wisconsin rely on their credit score to obtain financing for everything from homes to small credit cards. The credit score is extremely important when it comes to borrowing money and should always be monitored. Credit Karma suggests that consumers view their credit report at least once a year, before applying for a new job and before taking out a major loan. Monitoring a credit report can reduce the risk of identity theft. A few signs a credit score may be in trouble are listed below.

  1. The mail stops coming

According to the Federal Trade Commission, one sign that an identity may be in danger is when mail stops coming to a specific house. When consumers stop receiving credit card or bank statements at their house, it may be a clear clue that someone is using the Social Security number or identity for their own purposes.

  1. More mail comes

On the alternate side, if someone starts receiving mail for things they did not buy, or for medical services they did not use, there may be an identity theft problem. Unfamiliar withdrawals from a bank account can also be a clear sign of identity theft and should be a red flag that a consumer should thoroughly check their credit report.

  1. Debt collectors start calling

If a thief has used a different identity to buy things and never makes payments, debt collectors are going to start collecting the real person to get their money. When a consumer gets phone calls about debts they do not know about, it is time to review the credit report and get some help.

If a credit report has been compromised, it can seriously affect the ability of the individual to borrow money or even get a job in the future. It may be worth a call to an attorney to help sort through the issue.