Identity theft can be a nightmare to go through, and roughly eight million people a year are faced with the hassle of trying to repair the damage of identity theft. Sometimes, people don’t even know their identity has been stolen and their credit scores tainted until the worst possible times, like trying to obtain a home or auto loan. Credit scores can be tainted, money can be lost, and although laws are in place to protect those who are the victims of identity theft, it is still time consuming and difficult to fix.
There are a number of things you can do to protect your identity by safeguarding your credit and your social security number. One of the things you can do is hire a company to do this for you. Lifelock is one company famous for safeguarding people’s identities.
What is Lifelock Security?
Lifelock is a company that, for $10 a month, guarantees that your identity and credit will be protected. They are so confident in their system and the protection that it offers that they have gone to great lengths to prove it — the owner of the company displays his social security number in advertisements, because he is certain it can’t be misused, and the company offers a $1 million guarantee for their services.
As long as you are using Lifelock Security, you will be charged $10 every month. There are no contracts, so you can cancel at any point.
How do they protect your identity?
There are a number of steps Lifelock takes to safeguard your information. This includes:
• Set up fraud alerts. The three main credit bureaus have fraud alerts that will let you know if someone is trying to get credit in your name or with your Social Security number. When a fraud alert is in place, the creditor is required to contact the person by phone to make sure they are actually trying to obtain credit. This is an added security for your credit. Lifelock will make sure this is done every ninety days with the credit agencies.
• Remove your name and address from mailing lists. One way many identity thieves target their victims is through junk mail. Credit card applications are easily stolen, applied for, and then the thief picks up your new card in the mail before you get to it, running up charges that you aren’t even aware of. Lifelock will have your name removed from these mailing lists so you will no longer get credit card offers in the mail, further reducing your chances of identity theft.
• Credit reports. You are entitled to one free credit report every year at no cost. Lifelock makes sure yours is sent directly to you, so you can monitor the status of your credit without having to write to the credit reporting agencies and request it yourself.
• Software to monitor activity. In the event someone tries to change your address, have your mail forwarded, or sell your Social Security number, Lifelock uses special software and programs to track it and will alert you if anything is amiss.
• Guarantee. If your identity is stolen and your credit tarnished while using Lifelock, they will spend up to $1 million to recover lost funds, hire attorneys, or do whatever it takes to recover your credit and information.
The above are the ways Lifelock will protect and safeguard your information and ensure your identity is safe.