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Why you should regularly check your credit report

Have you ever heard of an "honest" thief? If there is such a person, he got about $50,000 using somebody else's information. But, the twist here -- the perpetrator is making payments.   

It's not your typical identity theft complaint. But it shows that what you don't know can be devastating.

Jarry Wilson was house hunting and denied a mortgage loan when the bank checked his credit and found several open accounts. 

Jarry read his credit report in disbelief and says he's a victim of identity theft. He says someone used his name and credit to go to college. 

"This is my name, Jarry Wilson, but who's doing it? I didn't take this loan out," he said. 

His credit report lists several student loans as far back as 2009. That's when the first payment was made. There's a $12,700 and $6,000 student loan, all showing payment deferred...and others with a current status and consistent history of paying on time.  

The scariest part of being a fraud victim, Jarry says, is waiting for the other shoe to drop. 

"They're paying now, but if they stop, that's it. My credit is shot. $52,000 ain't no joke," Jarry said.

The widower and father of two makes a living as a bus driver. The high debt is stopping him from buying a home until the inaccuracies are corrected.

  • To resolve errors, contact all three credit reporting agencies and the company that's providing the information. Under the law, both are responsible for correcting incomplete or inaccurate information.
  • Tell them in writing what you think is wrong. Back up your claim with documentation.
  • Send it certified mail. They have 30 days to investigate. 

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