It’s apparent that 80% of service rendered by Identity Protection Services like Lifelock and IdentityGuard can be done without their help but here are 10 reasons why you need them:

1. Fraud Alerts

Fraud alerts are one of the important tools Identity Protection Services use in protecting your identity. They’d usually place a fraud alert with all three consumer reporting companies (Experian, Equifax, Transunion) within a few days of your signing up. A fraud alert on your credit report will compel any service provider (Bank, Credit Card issuer, Insurance company etc.) to verify the validity of a transaction and identify its initiator before getting it approved. They do this by calling your Phone Number (or sending Mail to your address) provided by the Identity Protection Service provider.

2. Credit Monitoring

Credit Monitoring services detect transactions carried out on your credit report. An Identity Protection Service provides a Credit Monitoring Service that’ll monitor as well as ensure you receive copies of your credit report from time to time. You can then get notified whenever your credit report receives an authorized change or transaction. Most Identity Protection companies monitor your credit report through the consumer reporting companies. – A credit report contains information about you and your bill paying history.

3. Protection for Infants & Minors

Even if you manage to defy all odds by being able to effectively monitor activities on your own Identity. Are you able to do such for a Child? Numerous surveys have revealed infants and minors are fast becoming most favorable victims of identity theft. The reason for this can’t be far off. Due to the in-existence of a monitor over the financial activities of our children, a sizable number of minors wake up everyday to find out their identity was once used to secure a loan which they have to pay for.

4. Service Guarantee

A service guarantee by your Identity Protection Service provider is similar to insure you against Identity Theft. In event you become victim, any amount lost is compensated for due to the service guarantee. Other service guarantees may also help pay for legal fees, investigators, accountants and other professionals you might need to hire once you become a victim of Identity Theft.

5. Lost Documents

Some Identity Protection Service Providers help their clients recover lost documents. All you’d need to do is notify such provider and they’d take responsibility to inform and request renewals from the issuers of your lost documents. Though renewal charges are usually incurred by the victim, this service alone save victims of lost documents lots of time and money.

6. Personal Information

An Identity Protection Service will ensure to monitor activities involving your personal information. Some even go as far as monitoring hacker websites for traces of your personal Identity.

7. Reporting

In event you suspect illegal activity on your account, your ID Protection Service will guide you on precausive steps to take. If you have any numbers to call, they’d be aware of such numbers and will assist you wherever necessary.

8. Spam Mails

Your spam mails can be considerably reduced through this service. Your Identity Protection Service provider will send requests seeking to remove your name and email from spam mail lists.

9. Pre-Approved Credit Card Payments

You probably wouldn’t remember that poker site you registered with so many years back. An Identity Protection Service behind eliminates those pre-approved credit card payments you’d never need. Depending on how adventurous you once were with the internet, this service could save you considerable amounts of dollars you’d rather spend on more useful purposes.

10. As a Victim

What’s the first step to take when you become a victim of Identity Theft? Should you file a police report or notify your Bank, credit card company and the Federal Trade Commission? Any decisions you take within the first few hours of discovering Identity Theft are vital. With the Phone Number of your Identity Protection Service on Speed Dial, you’re just a call away from receiving professional advice on the right way to go.

On an end note, more than 10 Million American Citizens suffer the consequences of Identity Theft each year – FTC ID Theft Survey Report. Of course, these figures don’t include the thousands (if not more) of minors yet to discover their social security number is been used by someone else. Even with the possibility of you monitoring your credit report by yourself, we all know how difficult placing a phone call after a hectic days’ work can be, and what happens to your kids? An Identity Protection Service does Identity protection on behalf of you and your loved ones. Protection is never 100% guaranteed. This is why any service guarantees in place will ensure you do not get hit hard on finances whenever clearing up your name becomes an issue.

Bonus

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