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Many people do not realize how important their good name is until it is gone. If you are a victim of identity theft, your world can turn upside down in a moment. With identity theft, your credit can be destroyed. You may not be able to get a loan, by a house or a car, or could even miss out on job opportunities. Because of this it is very important to do what you can to protect your credit.
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There are numerous credit protection agencies that you can choose from. Here is a look at two common ones, Debix and Lifelock.
With Debix you receive an Instant AuthorizationTM account which allows you to be the one to authorize a new account. When a new account is opened, you will receive a pre-recorded Voice Key message. The credit will only be approved with your phone number and PIN. Debix also provides you with an Investigation Team that will look into your case should you receive and authorization call that you believe may be a fraud. In the event that a mistake is still made, Debix also offers insurance coverage to help defray the costs of clearing your name.
Debix also offers protection for children. Child identity theft is on the rise, and can take years to discover. Many parents, or the children themselves, do not even realize that the identity has been stolen until they are refused for a college loan, a car loan, a first apartment, or even a job. Debix monitors credit, criminal, employment, and medical identity theft by searching public databases for your child’s Social Security number. You receive an email of results, as well as a phone call if a problem is discovered. The insurance plan to provide relief of costs incurred by restoring identity also applies to children.
The Lifelock service is more robust and extends beyond their competitors. The company offers the largest service guarantee you can find, $1,000,000 to restore your good name and credit should your identity be stolen.
The Lifelock program starts out by placing a fraud alert with the credit bureaus. This means that the credit bureaus are watching out for you, instead of you having to worry about whether or not you receive a phone call, or having to worry about approving yourself if you need to get a loan. And since Lifelock has experience they can place these fraud alerts immediately to save you time and energy and continue to renew them as long as you have your policy. Lifelock also removes your from preapproval offer lists, which are one of the biggest sources of identity theft. They also will order your annual credit report for you so that you are kept up to date on what is in there.
Another service that Lifelock offers to you that Debix does not is assistance should your wallet get stolen, another common source of identity theft. All you will need to do is call Lifelock, and they will notify the credit companies and banks of the theft. Lifelock will also assist you in replacing necessary paperwork that you might have lost as well, such as your driver’s license, social security card, or even traveler’s checks. Plus the company monitors the internet to make sure that your information is not being sold or traded.
In the event that your identity does get stolen, Lifelock will spend up to $1,000,000 to help you to clear your name and get your credit restored. With this type of guarantee, you are able to rest assured that your credit and good name are well protected.