A friend of mine has a credit-card problem. I'd like to help him out with what to do. Here's his problem:
My friend's father took out $225K in his name and convinced the credit companies that he was 30 years older than he actually is, and that he was a professor at the University of California. Now, he can't get any student loans. I'd imagine his credit-rating is shot, and I'd also venture that he'll be turned down for any credit-cards or loans he applies for, or if is accepted, will only get them accepted at very high APRs.
So, my question is, what can he do?
Surely, there has to be some way that he can insure that this kind of fraud is corrected, and doesn't reflect him. My suggestion was to contact the 3 major credit unions and try to get it straightened out, and to also submit a written request in writing explaining what happened and demanding that his credit-reports be fixed.
Any other suggestions? What can be done to correct this false information that is out there about him as quickly as possible?