Identity Theft Protection

Can you imagine anything worse? You’re out to dinner, that first date is interested, and you’re thinking, “honestly, I don’t deserve a girl this cute.” You don’t, we all know it, and worse yet the waiter also knows it which is why he has been trying to get her number without you catching wind all night. Ok, back to the present.

You ask for the check, your date is smiling, all is right in the world, and shazam, the AMEX  gets declined. “What!” you exclaim, denied, that’s ridiculous, you’re all paid up, in fact you never use the card unless on dates. And you haven’t been on a proper date in over 7 months. The waiter tries again, another fail, and upon further review, your identity has been stolen.

Stolen identity sounds like something out of the movie the Matrix. While no foreign entity is entering into your consciousness and ripping your brain apart, they are infiltrating your personal records, credit cards especially, and attempting to spend your hard-earned cash. Want to treat them like Mike Tyson did nearly every opponent that dared step into the ring with him? We understand, but violence will get you nowhere. What you need is an identity theft protection company.

Identity theft protection companies act as guardians of your personal information. They charge a monthly or annual fee and typically launch out with credit monitoring and move up in a more nuanced form from there. At a basic level they will flag you when something suspicious pops up. While these types of services aren’t necessary for everyone, there is a segment (perhaps you belong to it) that should consider it.

First up, those that have already been a victim of identity theft. If your Social Security number has been used against you and it’s out there, likely it’ll remain out there. You’ll need to take some preventative measures to ensure it doesn’t keep coming back to bite you. Second, freezing your credit reports in the event you’ve already been tapped into is not recommended. An identity theft protection service can help with this as frozen credit reports look bad no matter how you slice it. Third, it is extremely comforting to know someone is there looking out for you. The services these companies offer range from the simple to extremely complex.

Most basic plans involve monitoring. These protection firms will monitor your credit files, alert you to bizarre activity, and of course give you time to react should you choose to completely close an account, etc. They will also contribute with alerts, in instances where for example someone attempts to open a bank account under your name or buy a Ferrari. Can’t imagine that scenario? Have 10 minutes, we have some horror stories for you!

Lastly, identity theft protection companies will assist you in the recovery process. Getting back lost money can be tricky to say the least. Unless of course there is a company lobbying on your behalf, good luck. At the end of the day, comparative shopping is suggested. There are several reputable players out there that will charge similar amounts, but a handful of folks that will need to be vetted. If you’ve been a victim, take note. If not, take note as well.