Can Bankruptcy be the Solution for Identity Theft Related Debts?

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Can Bankruptcy be the Solution for Identity Theft Related Debts?

Call: 888-297-6203

Identity theft is a common issue across the country. People often face numerous issues because some obscure person managed to steal their identity. One of the worst problems is the amount of debt which identity thieves accumulate, which unfortunately gets reflected on your credit report. This can have grave consequences according to lawyers of Dallas based bankruptcy law firm Recovery Law Group. You might have to bear the brunt of aggressive debt collectors despite your repeated attempts to assure them of your innocence.

How to deal with identity theft?

Whenever you become aware of any identity theft fraud, it would be ideal to file a police report against it. if you are in luck, the perpetrator of the crime might get caught; however, most of the times, the culprits are sitting miles apart from you and therefore almost impossible to get hold of. Since, people who have stolen your identity, have done it for the purpose of exploiting it completely (incurring huge amounts of debts), the next important thing is to contact your credit card companies and inform them about the issue. You can also provide them with a copy of police report to assure them that the debts currently being charged on your credit report are not a result of your activity.

Unfortunately, the debts on your credit report end up giving you a bad credit which you must deal with. Despite proving your innocence, credit companies might ask debt collection agencies to collect on the debt. Debt collectors’ resort to all kinds of harassing and threatening tactics, including intimidating phone calls and letters, calling at odd hours, etc. All of this can be quite intimidating and troublesome. If you have been facing such a situation, looking for an attorney might probably be a good idea. Call experienced bankruptcy attorneys at 888-297-6023 and discuss your predicament with them.

Bankruptcy might be the solution you have been looking for, in order to get rid of the debts resulting from identity theft. Generally, these thefts are due to credit card debts or personal loans, which are unsecured nonpriority loans. Such debts are discharged during bankruptcy which will result in improving your credit score eventually. With time, after your credit score improves, you can apply for a new credit card. Though filing for bankruptcy is a last resort in case of identity theft, it is better to hire an attorney than to deal with every credit card company individually. With the help of an experienced bankruptcy attorney, you might be able to get back at life after identity theft.


2019-10-04T12:56:56+00:00