Identity theft can severely damage your credit score, but quick discovery and action can mitigate impacts. Immediate steps include reporting fraud and placing a fraud alert on credit reports. Repairing credit requires disputing charges with evidence, and credit bureaus are pivotal in removing false information. Post-theft, it's critical to monitor credit regularly, dispute errors, and manage debts. Identity protection services offer support and monitoring to prevent future theft. Recovery demands patience and a proactive stance for restoring financial health.