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Having your credit impacted can affect you in different ways. Below are the two most common scenarios you may encounter.

 

      • Scenario 1: A scam has caused you to miss payments, which hurts your credit.
      • Scenario 2: Your credit score was harmed because somebody made fraudulent transactions in your name (identity theft).

We’ve outlined some suggested next steps for these two scenarios.  

Beware of scammers offering debt relief or credit repair services, which are bogus, expensive promises to solve your debt or credit issues. Learn more about these scams.

 

 

Scenario #1: A scam caused you to miss payments, which has hurt your credit:

  1. Get a free credit report to understand where you stand. You can request a copy of your own credit report – for free – from either of the two credit bureaus:
    1. Equifax 1-800-465-7166
    2. TransUnion 1-800-663-9980 1-877-713-3393 (Quebec Residents)
  2. Create a plan to rebuild your credit:
    1. Get on a schedule to ensure you can pay your bills on time moving forward.
    2. Consider rebuilding your credit by using credit cards for small purchases.
    3. Keep your debt down. Read more at the following resources:

 

 

Scenario #2: Your credit score was harmed because somebody made fraudulent transactions in your name (identity theft): 

  1. Ensure the criminal can do no more damage. Contact all affected companies, credit lenders, and bank accounts and dispute fraudulent charges in your name. When you contact them:
  2. Place a lock or freeze on that account if funds were illegally accessed from a debit or credit card account. You can do this on the phone with an official representative from the bank or credit card company.
  3. Review the resources on our Identity Theft page to learn the next steps.

Here are some next steps for you to consider. If you put several of these into practice, you’ll be safer day-to-day. Because each situation is different, these steps are not exhaustive or listed in any particular order:

  • Consider notifying your employer or commander (if in the military) to ensure they are aware of the situation.
  • Consider using an identity theft protection service that, for a price, will monitor your credit and financial accounts, notify you of suspicious activity, and help you recover lost funds. 
  • If you really want to step up your security, download an MFA “authenticator” app which provides a security code to help access your account. Learn more about MFA here.
  • Reach out to companies that may have evidence of any activity that would impact your credit, such as your credit card company.
  • Avoid using free public Wi-Fi without a VPN. Virtual private networks shield your account information and activity from scammers.

If your financial stability was impacted, check out our toolkit resources.

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Warn others (report a scam)

Good job taking control of the situation! We recommend taking a few moments to report the scam to the BBB, which can help us fight fraud. If you haven’t already, please consider reporting the incident you encountered to BBB Scam TrackerSM, our prevention and reporting platform.

 

Reporting the scam to the proper channels can help law enforcement shut down scam operations that prey on others; BBB shares its data with the Federal Trade Commission (FTC). Scam submissions are published on BBB Scam TrackerSM, which enables the public to search the reports and determine whether they are being targeted. BBB Scam TrackerSM reports are also used to publish timely research and consumer education resources. Report your scam incident to BBB Scam TrackerSM. 

Avoid future scams (learn how)

Research indicates that possessing knowledge about scams and scam tactics can help people spot and avoid scams that will inevitably target them. The unfortunate truth is that scammers will always try to steal data, money, and important information from people.

 

Even when scammers are caught, others will replace them. The best defense, then, is to understand what a scam looks like and how to respond. Protect yourself and your loved ones by learning more about scam types and tactics by visiting BBB’s Scam Prevention Guide.