Fraud: I recently was alerted that US SM BUS ADMIN ODA inquired on my credit report. This is the small business loan for COVID relief, and I do not own a business. Advice on next steps?

by WetShowerSocks. Posted on Sep 12, 2020    24    13

I have reached out to all three credit reporting agencies and put a freeze on my credit report. I plan on calling the small business loan office in the morning (right when they open, as I hear hold times are horrendous).

I also signed up for Norton LifeLock as an added protection in case they manage to actually receive any funds from the loan, so that I can have a professional assigned to the investigation and work for me in getting this corrected.

Anything else I need to be doing? I am worried that this will completely destroy me financially if I forget a crucial step.

. . .


Called the SBA office this morning. They open at 7AM CST, but I was able to start waiting on hold at about 6:52AM (once their voicemail was turned off). Just a bit after 7AM, I was connected to their operator who sent me along to the fraud department. I did not have to wait on hold, and spoke with the sweetest lady in the world, Sally, who helped me out.

Apparently they are receiving tons of these fraudulent applications. My account was already flagged as “unqualified,” but they were able to lock the application and mark it is fraud.

The SBA only pulls from Experian, not the other two bureaus. Next step, they recommended calling Experian, giving them my SBA case number, and asking for it to be removed from my credit report as it is fraud.

Tip for anyone reading this: if you are in the same boat as me, get to work ASAP! Call the three credit bureaus (Experian, TransUnion, Equifax) and have your credit report frozen. Then, call the SBA office that shows up on your credit report. Hopefully you can catch it in time as well.


sisyphuslv 1

File a police report so you have a case number in the event you suffer damages.

  WetShowerSocks 1

Added an update to my original post, I think I am in the clear after speaking with the SBA!

syndicatedmaps 2

There is so much fraud and why we started a blog. Please email us if you want this issue profiled on our blog.

hu-kers-newhey 2

Would you actually be legally liable to pay it if someone stole your information?

  WetShowerSocks 2

I would need to prove that it was fraud, I think? Not positive on that one. I just hope I caught this early enough and nothing will come of it.

hu-kers-newhey 1

Hopefully you have.

I would think filing a police report (should you need to) would be the best bet. It would show youre willing to have it investigated and provide more information.

  WetShowerSocks 1

Added an update to my original post, I think I am in the clear after speaking with the SBA!

hydradarr 7

Call SBA in the morning. If they say they funded a loan in your name or social file a police report to start the process. I hope you caught it in time.

  WetShowerSocks 2

The alert came through today for the credit inquiry, and I immediately froze my credit reports and signed up for LifeLock. Fingers crossed.

hydradarr 1

oh that's good you caught it. You will thwart a criminal in the morning! (and save yourself) Good job.

  WetShowerSocks 2

Added an update to my original post, I think I am in the clear after speaking with the SBA!

  WetShowerSocks 2

I’m just so thankful I signed up for the free alerts through my Discover card or else I would still be ignorant to all this happening! I have also heard that tons of those loans are getting rejected, but hopefully I can speak with the SBA and have the loan application cancelled.

mteet 3

Lifelock is a non-service... and while they have settled their FTC and other legal woes, the problem still exists. It is just a high cost insurance policy wrapped around abstract claims of "monitoring". You can purchase identity theft insurance from all the major carriers for substantially less, and even add as a rider to existing insurance for even less.