Understanding Identity Theft Protection Services – Are They Right for You?

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pic magazine Identity theft is a billion dollar business. Thieves can use stolen personal information to make purchases with your credit cards, get a loan in your name, steal your tax refund, or worse. The good news is that there are steps everyone can take to protect their identity and one may be to purchase identity theft protection services.

How do identity thieves use my information?

Identity theft services are available with a variety of options based on your need and to know which you may need, it’s helpful to understand how thieves use stolen data. Most identity theft occurs as unauthorized credit card purchases and in the United States, liability is limited by law, but identity thieves can do much more than shop with your information. Stolen data let thieves:

How do identity theft protection services work?

The key to minimizing the impact of identity theft is to stop it as soon as it occurs. Identity theft services are usually a combination of credit and identity monitoring designed to notify you quickly when potential fraudulent changes in your credit report or other accounts occur, including: Banks and credit reporting agencies will help consumers stop the use of stolen data, but it can take time to notice fraudulent transactions. An identity theft protection service takes the work out of monitoring your credit report and other accounts, and in extreme cases in which information is extensively used, it can help you navigate the expensive and time-consuming process of restoring your identity. Most services offer value-added benefits including legal assistance, liability limitations, and even cash benefits.

Do I need identity theft protection service?

Your identity is best protected by keeping personal data secure; but, this can be difficult in a mobile age. You can take steps to protect your identity without additional services, such as freezing credit reports and checking bank activity frequently, however, identity theft protection services may offer a continuous level of monitoring and other services such as monitoring of the dark web and rapid recovery assistance that offer both significant convenience and peace of mind. If you feel these services may be right for you, choose a reputable company through a comparison shop. Consider family plans to protect elders and children who can be identity theft targets because they are less able or likely to monitor their personal information. Be sure the fee is affordable and ask questions to be sure the plan you choose addresses your unique needs. Read more about Identity Theft in America: Guidelines to Help You Become More Informed and What to do if You're a Victim of Identity Theft