Consumer Car Buying Advice Blog

How to prevent fraud while financing with poor credit car loans

It can happen

Consumers with bad credit and approved auto loans often don’t realize they can become the victims of identity theft.

We can understand this because since 1992 we’ve been doing bad credit auto sales here at Auto Credit Express. Our web site was even created so that people with bad credit could study such topics as the terrible credit auto loans process and cosigner issues as well as today’s topic, avoiding identity theft.

Credit repair and identity theft

One of the quickest ways to halt the climb to better credit is having your identity stolen. And even though this is less likely to occur to people with poor credit, it’s still possible. That is, someone could be making your credit profile look worse even while you’re trying to improve it, as this article from TransUnion points out:

Tips to Identify Fraud

Your credit report, your financial statements and even your mail are key places to look for signs of fraud and identity theft. With a watchful eye and staying in tune with your credit activity, you can identify fraud.

The signs may vary, but these signs are common signals that can help identify fraud activity:

•    There are accounts, payment histories, Social Security Numbers, addresses, employers or inquiries on your credit reports that you don’t recognize.
•    One of your creditors informs you that they have received an application for credit with your name and Social Security Number.
•    Incoming calls or letters state that you have been approved or denied by a creditor to which you never applied.
•    You receive credit card, utility or telephone statements in your name and address for which you never applied.
•    You no longer receive your credit card statements, or you notice that not all of your mail is delivered to you.
•    Your credit card statement includes purchases that you don’t recognize.
•    A collection agency tells you they are collecting for a defaulted account established with your identity, but you never opened the account.
•    If you suspect that identity thieves may have targeted your child, TransUnion can help.

As we see it

Even while you’re working on repairing your credit and making timely payments on a bad credit auto loan, you should be aware of the signs of identity theft.

At Auto Credit Express we specialize in assisting people with bad auto credit find a dealer for their best chance at getting approved auto loans.

So if you really want to get your car credit back on track, you can begin now by filling out our online auto loans application.

Tags: Bad Credit, bad credit auto loans, Credit Repair, identity theft

This entry was posted and is filed under Auto Loans, Bad Credit, Credit Repair, Online Security. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.