Anything that can help you prevent identity theft has to be a good thing. Identity theft can, among other things:
· Take a financial toll on you.
· Lower your credit scores.
· Cause you personal damage.
So it makes sense to invest in good identity theft protection services because they bring many substantial benefits.
Your credit score is an important financial indicator and unfortunately one of the very first things to suffer when your identity gets stolen. An identity theft protection service will monitor your credit reports for suspicious activity. You can shore up their efforts by checking your credit statement regularly.
The protection service will keep an eye out to check for various activities such as:
· Applications for loans.
· Applications for additional credit cards.
· Someone availing medical help and so on.
Notification of fraud
Many a time, people do not even know that their identity has been stolen. The thief can enjoy a very comfortable lifestyle at your expense. But the big benefit that an identity theft protection company will give you is prevention. The moment they detect suspicious activity, they will notify you of the same.
So if your social security number has been used to avail some kind of benefit, you will be told about it via:
· A phone call.
· An email.
· A text message etc.
If this is an unauthorized activity then you will need to confirm it is so and the company will then swing into action.
All good identity theft protection companies will start their work with a threat assessment report. This will take into account almost every aspect of your life – offline and online.
From such a comprehensive assessment will come actionable inputs such as:
· Software security measures.
· Lifestyle guidelines so you do not fall prey to social engineering.
· Measures to improve online security when you go shopping or banking and so on.
A lot of leading protection services offer insurance which can help you deal with the aftermath of identity theft. Such an insurance can cover different aspects such as administrative expenses incurred to deal with the paperwork involved, so do be sure to check on the coverage aspect before you sign on. Several types of out of pocket expenses can also be covered with such insurance.
Should identity theft occur, the company can deliver resolution or restoration services. The damage from identity theft can be manifold and a specialist who knows how to deal with such damage will have invaluable industry knowledge so your identity can be restored quickly and completely.
Plans and services
A company will also have different kinds of plans. Some of the categories could be:
· Individual protection plans.
· Plans to protect family and children.
· Plans for prevention – if your identity is intact.
· Plans to deal with a stolen identity and so on.
So it does make a lot of sense for you to read through all the information offered by an identity theft protection company before deciding on how best to avail their services.