Identity Theft Protection Explained

Identity theft protection is the single best deterrent against identity theft. We’ll explain why and how it protects you.

Why Identity Theft Protection Makes Sense

Identity theft protection is a wise investment because it both prevents identity theft and provides a safety net in the event that you become a victim. As mentioned before, the average victim spends a whopping 40 hours of time trying to resolve the aftermath of identity theft. And, if you’re lucky, you’ll spend about $400-$800 in out-of-pocket expenses to restore your good name. Remember that those numbers are averages, so, for many victims, the cost is even higher. Keep in mind that, if your identity is compromised, the thief can buy a home with your credit, get a job under your name, and even destroy your credit by declaring bankruptcy. In the most extreme cases, identity theft victims have lost job opportunities and even gone to jail for the crimes perpetrated against them. You don’t want this to happen to you. Prevention is crucial, and that is the keystone of identity theft protection.

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The Benefits of Identity Theft Protection

Identity theft protection professionals know what the most effective ways to prevent identity theft are, and they will take these actions immediately to protect you and your credit. Remember that identity theft protection has two tiers: a preventive aspect and an insurance, or reactive, aspect. Here is a summary of the benefits you will enjoy with identity theft protection:

• The utmost protection on your credit with fraud alerts. The single best way to prevent unauthorized use of your credit is a fraud alert. A fraud alert will be set on your credit by the identity theft protection service. This means that you will be contacted to verify the legitimacy of the transaction any time someone tries to do anything with your credit. For instance, if someone applied for a loan in your name, the bank could not proceed without contacting you via telephone first. Fraud alerts make identity theft virtually impossible because you personally verify the authenticity of every change to your credit.
• Say goodbye to junk mail and credit card pre-approval offers. Most people are thrilled to learn that a part of identity theft protection services is removing your name from junk mail and credit card pre-approval offer lists. The reasoning behind this is that this type of mail is a major target for identity thieves, so it is in your best interest to eliminate it altogether. Your identity theft protection company will remove your name from such lists, so you will never receive junk mail again.
• Get real, immediate results. Within a few weeks of enrolling in identity theft protection, you will receive letters from the credit bureaus to verify that your fraud alerts are in place. The company also orders your free credit reports on your behalf and has them sent right to you. You should receive these within six weeks. By the two-month marker, junk mail/credit card offers will begin to dwindle.
• 24/7 support. Your identity theft protection company works round-the-clock to protect your identity, and they are available for support purposes any time. Your questions and concerns will be addressed by trained representatives, available 24/7.