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I signed up for lifelock but they say that it is a scam. What is the best idprotection company?*
ON March 31 2010 i resigned up for lifelock but they say that it is a scam. And I'm afraid because they have my personal info such as my SSN. Can anybody give me advice on what to do?
Answers:
1) It's not a scam in the sense that they are criminals trying to rip you off. The argument is that most of the services they provide can be obtained for free by going directly to the credit bureaus. Basically, they deal on your behalf with the three credit bureaus (Equifax, Experian and TransUnion) and tell them you do not wish any new credit services (loans, credit cards, etc.) to be issued by any financial services company until further notice. And then they monitor your credit reports to ensure that is the case. They also provide assistance should your identity be stolen. But, if you've signed up with them anyway, you should be safe. You may want to drop out eventually, though, and block your credit reports directly through the credit bureaus, saving yourself the monthly Lifelock fees.
2) There are no good ID protection companies. The whole industry is a scam. If you think someone may start opening accounts in your name, just put a security freeze on your credit reports. If this has already happened, put a fraud report on your credit reports and file a police report. There, your life is locked.
3) I was a victim of identity theft in 2008 and researched Lifelock and a few other companies. I wouldn't be too concerned, Lifelock isn't a scam but in my own research, probably not the best identity theft protection. Look at TrustedID, they offer family pricing, credit monitoring, antivirus protection, and a far more comprehensive 1 million warranty. As for those who say the industry is a scam, sure you can place credit freezes by yourself but what about somebody getting arrested and using your identity which is what happened to me. TrustedID (and Lifelock) scans public databases, court records, payday loans and even sex offender registry reports for your information. Can't do that by yourself.
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