Credit fraud can create long-term financial hardships, affecting everything from loan approvals to daily financial transactions. Unauthorized accounts, fraudulent charges, and identity theft can damage credit scores and lead to unexpected financial obligations. Hays Cauley, P.C. assists individuals in South Carolina who have been affected by credit fraud, helping them take the necessary steps to dispute fraudulent activity and restore their financial standing.

Identifying Credit Fraud

Credit fraud can take many forms, ranging from unauthorized purchases to full identity theft. Some of the most common warning signs include:

• Unexpected credit card charges or withdrawals
• New accounts appearing on a credit report that were not opened by the account holder
• Bills or collection notices for unknown debts
• Alerts about credit applications that were not submitted

Regularly checking credit reports and bank statements can help detect fraudulent activity early, allowing victims to take action before further damage occurs.

Steps to Take After Discovering Fraud

If fraudulent activity appears on a credit report, quick action can help minimize further issues. Steps may include:

1. Reporting the fraud to financial institutions – Banks and credit card companies should be notified immediately to freeze or close affected accounts.
2. Placing a fraud alert on credit reports – This prevents additional unauthorized accounts from being opened.
3. Filing a report with the Federal Trade Commission (FTC) – The FTC provides resources to help document fraud and prevent further incidents.
4. Disputing fraudulent charges – Credit reporting agencies must investigate disputed items and remove false information when evidence supports the claim.

Legal Rights Under the Fair Credit Reporting Act

Federal laws, including the Fair Credit Reporting Act (FCRA), require credit bureaus and financial institutions to investigate fraud claims and correct inaccuracies. If a credit agency or lender fails to take appropriate action, legal representation may be necessary to ensure compliance with consumer protection laws.

Legal Support from Hays Cauley, P.C.

Credit fraud can have lasting consequences, making it important to act quickly and assert legal rights when necessary. Hays Cauley, P.C. provides legal assistance to South Carolina residents dealing with fraudulent credit activity, helping them dispute false charges, repair credit damage, and hold responsible parties accountable. Addressing credit fraud as soon as possible can help prevent additional financial harm and restore financial security.