What is the worst way to find out that your identity theft has been stolen? Well, there is no good way to find out, but some of the really bad ones include getting a bill from a collection agency for a quite expensive purchase that you’ve never made, applying for credit or a place to live only to be denied because you’ve apparently defaulted on a loan, or receiving a call thanking you for renting an apartment or setting up an account with a company you have never heard of.
These are just some of the signs you’ll have to wait for if you don’t have an identity theft protection plan and/or don’t check your credit report regularly. None of them are welcome, but unfortunately they are the reality. You see it all the time in the crime stories on your local news.
So how can identity theft protection companies help? Easy. One of the primary purposes of an identity protection service is to notify you when your information is compromised – or that there is any suspicion that it may have been compromised. This will happen sooner rather than later, before it’s traded, or sold, or used by the person who stole it to cause you a significant financial or personal loss.
Couldn’t I do this on my own, you might ask. Sure, in theory, if you had unlimited time and resources and the desire to constantly monitor all of your accounts as well as your credit report. Of course, you would need access to a ton of databases that house your information and some sophisticated software to analyze the data for signs of identity theft. Then you would have to develop a program to monitor a ton of illegal websites where personal information is routinely sold. But no problem, right? You could do that.
Identity protection services are inexpensive, convenient, and very helpful for your peace of mind. Just ask any of the nine million American victims of identity theft last year if they wished they had had a plan in place, and then ask them how many of them have taken the time to purchase one now. It is sure to be a large percentage. But you don’t have to learn things the hard way. Your smarter than that.