Sometimes, when someone is the victim of identity theft, they have no idea their identity has been stolen until some serious damage has been done. Maybe you started to get threatening calls from creditors on a debt that you had no idea about. Or, possibly, you see a continued drop in your credit score and upon further investigation find there are outstanding debts in your name, but not ones that you took on. Even after contacting the creditors, who require proof that the debt is a result of identity theft, they may still come after you. And through this long and arduous process, your credit score is continually being damaged. You may get to the point where you need to take a drastic measure to get out from under this debt that is not yours – and bankruptcy may just be the answer.
Aurora Bankruptcy After Identity Theft – Is It Worth It?
Usually when people come to me asking about bankruptcy as a way to help solve their identity theft issues, it is because they have tried every other avenue and just can’t seem to get the help they need. In these situations, an Aurora bankruptcy can help. When you file for bankruptcy, your debts from the identity theft will be included. Even if you don’t know exactly who your creditors are or how much you owe because of the identity theft, an expert bankruptcy lawyer can help get that information and file with all your debts listed, even those you didn’t take on yourself. Almost always, the debts are unsecured, so they are eligible for discharge under bankruptcy proceedings.
Is Bankruptcy the Fix I Need for My Identity Theft Issues?
The bankruptcy process can help you gather information about all your debts, whether they are yours or were accumulated from someone who stole your identity. When this debt is discharged, you are not responsible for it any more – relieving you from the main problem. Moving forward, you can put a fraud alert related to your credit profile where you are alerted anytime someone tries to open a new account under your name. This will keep you in the know moving forward. As far as your credit score goes, your non-payment of the debts you didn’t know about will have negatively impacted your score. After bankruptcy, you can work to improve your credit score, and it doesn’t take as long as you think.