Is Identity Theft Protection Worth The Cost?
It is true that you have to safe guard your personal information by paying for protection services especially if you are at a high risk of having your information stolen. This is because these companies offer to protect your information as you might not have the time or the know-how to manage your personal information and safeguard it from identity thieves. These companies do this protection for a monthly or annual fee. They let you know when your information is at risk of being stolen but that’s just it, they don’t prevent your financial data from being stolen and misused. It is advised that you go all out and freeze your credit cards as it prevents criminals from opening fraudulent accounts your information.
*You can actually monitor your credit accounts actively by yourself thereby performing the basic services offered by these companies and at no charge:
*You can freeze your credit cards by yourself at all three bureaus. This is one thing these companies won’t offer you but you can get for free if you do it yourself.
*Your credit reports and scores can be easily kept track of by you. It’s easier if you are the one monitoring the changes on your credit reports and so will know what charges you rightfully incurred and the ones that come off as bogus charges.
If you notice any attempt of stealing your personal information or its misuse, you can go ahead and file an identity theft report to the right agencies while following free recovery paths which are advised by the federal government at this address ; IdentityTheft.gov.
Borrowing Chi Chi Wu’ s words, we would say “freeze, Freeze, Freeze. Every other thing is gravy on top of that.” That is to say go ahead and freeze your credit cards if you suspect a foul play to take over your financial data.
WHAT THEY OFFER
What do these companies do that you can’t? Well, Nothing. The primary services they offer you can do them for free from your own comfort. Here are the basic services identity theft protection companies offer:
Monitoring: These ID theft protection companies keep tabs on your credit files and report new account openings which are in your name. they send you alerts on activities which involve your accounts so as to let you know if they are legal and from you or from identity thieves.
Alerts: They send you notifications of activities involving your personal information. This is helpful to people as most people don’t know when their personal information has been stolen until they’ve lost their accounts. So when the notifications keep coming it keeps you on the alert and lets you know when the criminals hit.
Recovery: That is the next good thing about these companies. They aid recovery when damage has been done. If your information has been hacked and being used for fraudulent activities, identity theft protection companies help to recover your money and your damaged credit cards.
These are the three major services these companies offer which you can do yourself if you decide to . if you can do these, why go through the stress of searching for which identity protection company offers the best services and paying a huge sum for the services when you can do all the monitoring yourself.
*You should only think of paying for an identity theft protection service if:
You don’t have any intention of freezing you credit reports when an attempt has been made.
*You are a victim of identity theft already and want to take all measures of active protection into consideration.
*You cannot make out time to actively monitor and keep track of your own credit reports.
It turns out that most times the aforementioned trio is always the trouble, therefore in a case like that, hiring an identity theft protection service is worth all the cost you put into it.
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