ID theft protection not always a bargain buy

[MillCreek]

from the AJ-C website (04-12-09)

 

ID theft protection not always a bargain buy

 

Fear of identity theft has created an entire industry of firms that say they will monitor your credit records and protect you from fraud. But are these services worth $120 to $360 a year?

 

It depends, but in many cases the answer is no.

 

That’s the assessment of the Consumer Federation of America, which has issued a report examining services offered by a sampling of 16 commercial identity theft protection firms.

 

“There are a lot of things you can do for yourself and a lot of assistance available to you — for free. Much of it is the same type of assistance you get from these for-profit services,” said Susan Grant, the group’s director of consumer protection.

 

Firms that provide identity theft protection services say they offer convenience and peace of mind to consumers who don’t want to hassle with filing forms and regularly requesting reports from multiple agencies.

 

And some firms provide more comprehensive services than others, monitoring proprietary data consumers can’t access and employing staff to handle the calls and paperwork needed to restore a stolen identity.

 

“There are lots of things you can do for yourself,” said Anne Wallace, president of the Identity Theft Assistance Center, which is funded by 48 of the nation’s largest financial services companies. The center provides free help to consumers whose fraud problems involve accounts at member companies. It also sells protection services.

 

Remainder of Story

HERE

[rednekkhikkchikk]

handle the calls and paperwork needed to restore a stolen identity

FYI-

 

Many insurance companies offer ^^this as an additional coverage available for homeowners insurance for a nominal premium...usually less than $25-$30 per year. I'm not aware of any that include credit-monitoring in the coverage, but the cost is nowhere near $360 or even $120 per year, either.

 

Please keep in mind that this is not coverage to reimburse for the financial loss itself, but the recovery and restoration of credit that's necessary after the identity theft has occurred, which, as I understand it, is a headache-and-a-half in and of itself.

 

[InterestinglyBoring]

I'm trying to SELL my identity, no one wants it.