If you fall victim to credit card fraud in the state of New Jersey, it would be a hassle on your part if you have debts.
A lot of the time, debt collectors will not accept your claim about being a fraud victim. Because of that, they can continue to claim that you are in debt with them even though you should not be.
These types of creditors will not let you prove that your transactions with them are fake. They will do ant measures to keep you trapped as their debtor.
As such, a lot of people would choose to declare bankruptcy to solve these kinds of problems.
What is Credit Card Fraud?
Credit Fraud happens from getting either your credit card or personal information stolen. Someone who commits these acts can use your information to then steal money or property from you. This type of fraud is also considered by many as identity theft.
To protect yourself from being a victim of credit fraud, know when and how you have used your credit. Shredding documents with identifying information is also an acceptable precaution to do.
Checking your credit card statements on a regular basis is important. Every month, check all transactions you did and confirm if every single one in the statement is from you.
Getting your information stolen by retailers online is also a common problem today.
When going out, carry only a few credit cards with you. The fewer credit cards you have, the fewer credit companies you need to contact if your wallet gets lost. And if your debit card gets stolen or lost, getting a replacement from your bank is easy.
How to Keep Track of Your Credit
The law allows one to grab a credit report duplicate from each of the credit bureaus every twelve months.
You can check your reports to find any unusual transactions. These provide accurate reports on your transactions detailed by the credit bureaus themselves. It is not advised to use credit reports taken from other websites as theirs are more unreliable.
Experian, Trans Union, and Equifax are the major bureaus. These bureaus often contact you when new accounts have entered under your name.
If the person who committed fraud is someone you know, file a police report immediately. If not, your creditors might refuse to amend the charges on your account.
How to Take Care of Credit Card Fraud
As soon as you find unusual payments on your card, call the three credit bureaus immediately. Call your issuer and make them replace your card and account number with a new one.
Banks are only responsible for keeping your money safe. But you are responsible with your own card.
Never forget to contact your banks when you fall victim to fraud. Otherwise, you might get stuck paying for debts you are not even responsible for, to begin with.
Call your card issuer to learn how they deal with credit card fraud as soon as you encounter such problems.
How to File for Bankruptcy
In the state of New Jersey, charges caused credit fraud get cleared in bankruptcy. As soon as your credit report reflects your bankruptcy, no one can place you under their debt.
Your attorney should know your fraudulent and real debts, especially if it costs you a lot to settle.
Cases like these will be on tight watch under the court, hence why it should be clear that it is a fraudulent debt.
Get credit reports from all the major credit bureaus to prepare for bankruptcy. You will need these documents for credit fraud cases so you can include them all for the filing.