Much of the ID theft occurs by family members. The response by major creditors has been to adopt a so-called “Domestic Policy” which is where if a family member stole your identity to open an account, this is your problem. This policy is wrong and illegal.
The Fair Credit Reporting Act requires the reporting to be accurate. If you did not authorize or allow the account with the creditor to be open, we fail to see how the relationship of the ID thief makes a difference. Now, we do always recommend that you be willing to prosecute – regardless of who committed the theft. If you don’t, the creditor can (fairly or unfairly) make attacks on your credibility.
If you are a victim of ID theft, even if by a family member, feel free to contact us for help particularly against the major credit card companies that refuse to correct your credit.
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