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Q: If I am the target of identity theft can I ever reestablish good credit?

A: Yes. You can recover your good name and standing with lenders but its important to act quickly. Federal laws prevent identity-theft victims from being held responsible for illicit transactions but authorities need to be made aware of the crime right away. As soon as you discover the theft, contact the FTC and local police as well as at least one of the major credit agencies so they can put a fraud alert on your file. If you act quickly, fraudulent purchases made in your name can be easily identified by lenders and, hopefully, will not count against you.

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