Raising Money

Recover From Identity Theft In 3 Simple Steps

Right from the time to you conceive entrepreneurship ideas you are at the risk of identity theft. Even though there are stringent measures to keep this at bay, people seem to keep falling prey to such fraud. Identity theft usually results in loss of financial budgets and forecasts, loss of money, loss of reputation, bad credit score, and loss of morale.

While we hope and pray that this doesn’t happen to you, we advise that you know of measures to cope up with it in case it does. Along with implementing your entrepreneurship ideas you must know what to do in case your small business accounting has gone haywire due to theft.

Here are three simple steps that you should keep in mind to safeguard your business strategy:

Know The Scammers

You should first know how to spot scammers. If you are buying any business growth management software or tool online, you must be aware of the website. Reliable companies will always give you a number of payment options. If the website you are purchasing from mandates that you should purchase only through debit card, something is fishy. Also, if someone is pressurizing you too much, there is trouble.


If you think something is wrong and you have fallen victim to identity theft you must have the presence of mind to take quick action. Place alerts and let the authorities know. They will ask you for your identity proof. Provide it immediately so that they increase security on your credit cards and loans. They may also provide a credit report for free so that you track any activity and find the location of the criminals.

Write A Letter to the Credit Agency

Write a personalized letter to the credit agency in case the thief has used your credit card details to make purchases. We advise that you not fill a form or write an email. A personalized letter that consists of all information and details of the dispute will have a greater impact. With a strong plea, you will be able to convince the credit agency to make changes and clean your credit record.

Identity fraud is indeed something to worry about but with the help of so many resources and solutions available you should be prepared for such a time.

Entrepreneurial Learning

Whether it is entrepreneurship ideas or whether it is accounts, there is always the worry of theft. While you can always come up with a new idea, the potential damage that identity theft can inflict on you is grave. That is why you should take steps to minimize the damage.

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