Identity Theft is indeed, an extremely scary problem that every day we face and, as we talk about in our workplaces, it is much like computer viruses in that there was a point when you could purchase a PC without protection from it. But it is no longer the scenario. We live in a time in which Identity Theft presents the same scenario for every one of us as well as a world where no one ought to be left unprotected from this uncontrollable crime.
However, we should examine the different types of protections are, that are available in the first place, as most people I get in contact with would be asking questions about that very thing at the very least. This indicates that a large percentage of our society does not completely comprehend the differences between vclub.tel plans offered, which is perfectly fine so it is that they have an impartial person to help explain the difference to them. It is a good thing you found this article, because most people who have the information and experience that you interact with will be biased too. Keep in mind that I have some views that I have my own opinions as you you continue reading, but they are derived from years of experience analyzing and investigating this issue as well as the”official “solutions” that are put in the marketplace.
The first type of security I’m going to discuss is the most common one, which you can see ads for on television and in magazines. You also can hear about them in the news as well. They are known as Monitoring plans that do exactly what the name implies. They monitor your credit report – regardless of whether you use one credit bureau or all three credit bureaus. They are priced in accordance with the information they gather. This is a good first protection, however any insurance decent enough is bound to have this feature, so I do not consider this category to be particularly interesting.
Pay attention, as this is the place where the majority of the American public gets it wrong It’s because they don’t understand the difference. Monitoring Plans will inform you when something is happening to your identity. Note that generally these plans are also only looking at your credit. Not other important things like the details of your SSN, Driver License, Criminal History, Medical File and so on.
The key here is twofold:
- They’re only monitoring and you end up doing all the cleanup in the event that someone steals your identity, and that could take hundreds, if not thousands of hours to deal with.
- They’re just watching your credit report and they are not looking for the other forms of identity theft that is exactly where the majority of cases are occurring every single day.
The second kind of protection I’d like to discuss is those that you’ve likely received from your local bank. They’re akin to protection in the event of Identity Theft, where they will protect your bank account for one-time fees each month.
The issue I have in the whole concept of this kind of protection is this: There are laws that stipulates to these exact banks that they need to pay you back the money you’ve lost from Identity Theft, so why is it that we have to be paying them to perform what they’re supposed do already?
In principle alone this is a huge issue for me, as reimbursement plans, as they are often referred to, merely accomplish to put money back into the bank . It is a money that can be returned just as is, and maybe more quickly. If you do not have much money in the bank and rely on a small amount to pay for expenses, this might sound appealing to you. Remember, you’re paying them to do what they already ought to be doing.
The third type of plan I would like to discuss is one that many credit agencies will tell you about. It is the Fraud Alert Services. The inclusion of a fraud alert on your credit report might aid in preventing financial related areas that are a source of Identity Theft, but does not address any of the other types that are associated with Identity Theft.
Additionally, one should be aware that when they place an alert to fraud on their credit file, gaining access to their own credit will be a lot more difficult following the fact because, in the end your credit has been in a state of freeze.
This does a great job of preventing new credit lines from opening and large purchases from taking place, but that is really about the extent of the benefit to you. Your identity will remain completely insecure.
The final category I would like to address is restoration plans. It is my wish that you listen extremely closely to what I’ve got to say here, because companies will try to make their offerings appear as if they’re doing this, even though they aren’t.
Restoration Plans assist the victim to restore their identity, and unless the protection you’re researching states that they use “Licensed Fraud Investigators” for the restoration, you’ll be required to complete the process yourself. A Licensed Fraud Investigator requires that you make a signed limited power of attorney to them, which means they have the authority to represent you. What this means to you is that they’re performing all the thorough investigation required to restore your identity, giving you the security to confidently go about your daily activities.
It should also be noted it is important to note that Licensed Fraud Investigators are armed with more expertise than most in the field of repairing identity theft, and having contact information and resources that we can’t and resulting in a quicker process of restoration. They also have a bond in their particular circumstance, which combined with their capabilities will ease the anxiety as a victim of Identity Theft.
Overall, each kind of protection has its benefits and minuses, but at the end of the day, the sole variety which I feel has enough merit to be worth my money can be found in the Restoration Plan. I’d recommend to each of you to conduct your own research to ensure that you are aware of what is being offered by every program. Businesses in particular have an added exposure in that their employees are more productive if they have the Restoration Plan verses the other kinds of plans. I strongly believe that every business should consider including this benefit in their plan if it has not already. More than 90 percent did not.
Contact my office today at 469-718-9672 so that we can assist your company by informing your employees about the numerous risks involved with this horrible crime, and the steps that could be taken to hopefully prevent becoming a victim, and how to beforehand, introduce the proper type of Identity Theft Restoration Plan to your employees in case the inevitable does happen.