Thieves are using your good identity to buy cars and then disappear! Often the cars
 are exported to other parts of the world.
You've just become a victim of ID Theft and realize someone bought a car with your ID. Now you have prove it was not you and disentangle yourself. It can be a wild ride as you attempt to clear your name.
Despite the headaches, you won't have a black mark on your auto insurance record from failing to cover a car you never knew you owned. When you're purchasing a new vehicle, you're supposed to have proof that you have the necessary auto insurance already in place.
Reputable auto dealers do not let a new car owner leave the dealership without insurance coverage, so that very first contact with the insurance company may work as a fail-safe step.
If you do receive a phone call from a car dealership or finance company asking about a new car purchase, you should review a copy of your credit report to see if there are any unauthorized charges.
If find unauthorized charges, you will need to file a police report. And then the dance begins to unravel the mess. This will have a major impact on your credit report and financial future.
You are entitled to 1 free credit report per year from each of the 3 credit bureaus, Experian, Equifax and Trans Union. We recommend that every 4 months, you get a credit report from one of the bureaus to review your credit history. Identity Theft Recoverycoverage is available on most homeowners policies. Contact us if you would like to discuss this coverage.
Posted Sunday, October 04 2015 11:00 AM
Tags : Stolen ID used to Buy a Car
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