Credit Bureaus Are Not the Complete Solution to Identity Theft

Credit bureaus can help you restore your credit report if you have been a victim of identity theft. However, they cannot do anything to replace or restore your identity. The truth of the matter is that credit bureaus only come in the picture when a credit fraud has been committed. Sometimes identity theft leads to credit fraud while other times it leads to other kinds of frauds such as insurance fraud, employment fraud and benefits fraud. In all those instances, a credit bureau can do nothing for you.

If an identity theft leads to a fraudulent transaction connected to credit such as making false transaction on your credit card, applying for credit in your name, taking over one of your credit accounts by trying to change the address, then these are things that a credit bureau can rectify on your credit bureau once you notify them and take the necessary steps prescribed by them. The credit bureaus will also help you to add security alerts on your credit alert so safeguard your interest.