 TITLE: Should You File a Police Report After Identity Theft? CONTENT: How Can Identity Theft Affect My Credit?\n----------------------------------------\nBeyond financial loss, another harmful consequence of identity theft is damage to your credit. This can happen if the fraudster uses your Social Security number or other information to open credit cards and loans in your name. If they rack up bills and don't pay them, your credit report will reflect the missed payments and your credit score will suffer. This is even more damaging if the accounts go into collections.\nOnce the fraud is reported and any fraudulent information or accounts removed from your credit report, your credit can quickly rebound. If you need to apply for any new forms of credit while the investigation is ongoing, however, it could be challenging. If possible, wait until the ID theft issues are resolved before applying.\nIdentity theft can have plenty of other unexpected costs, such as emotional and physical distress, criminal records in your name and significant amounts of time trying to clean up the mess. Again, most of the damage can be fixed—but be prepared for a potentially lengthy process. END