The Top 5 Benefits of Identity Theft Protection Services
Identity Theft Protection Services

Identity fraud and identity theft are two growing problems facing consumers in the United States. Identity fraud is the act of misusing someone else’s personal information or financial accounts, whereas identity theft is the act of opening new accounts with someone else’s personal information.

The Federal Trade Commission received around 4.8 million identity theft complaints in 2020. There were almost three times as many identity fraud complaints reported that same year too. In addition, the number of identity theft cases continue to rise in states across the country.

Don’t assume your personal information is safe. For example, how many times have you entered your financial or personal information on a website? You might think it was processed on a secure server, but you cannot know for sure.

Hackers are finding clever ways to infiltrate secure websites and databases all the time. For example, think about all the data breaches that occurred at some of the biggest companies, such as eBay, Equifax, LinkedIn, and Target. Even though these companies spend a lot of money on cybersecurity, it doesn’t mean your information is 100% protected.

Have you ever received an email or letter about a “data breach” from a particular company? If so, then you should be worried about who is using your personal information.

Fortunately, identity theft protection services offer protection to customers who experience identity theft. It will usually cost a small monthly fee of $10, but it is worth the money when considering all the benefits that follow.

Below are the top 5 benefits of identity theft protection services.

 

1) Protect Your Credit Profile 

Credit damage is one of the most devastating outcomes of identity theft. First, the criminal will use your social security number and personal information to apply for loans or credit cards in your name. Then, once they spend all the money, you will be the one receiving the bills to pay back the debts. Not fair, right?

Identity theft protection services allow you to lock your credit profiles with the click of a mouse. As soon as you notice anything strange on your credit report, you can immediately freeze your credit profile to prevent further accounts from getting opened in your name.

The service provider will work with you to resolve the issues and identify the criminals responsible.

2) Receive Alerts 

You don’t have to keep requesting a credit report to monitor your credit profile. An identity theft protection service will monitor your credit profile on your behalf.

Anytime your credit score changes or a new account is opened, you will receive an email or text alert to notify you about it. Then you can take quick action by freezing your credit profile before any more accounts get opened without your consent.

3) Protect Electronic Devices 

Hackers are now targeting smartphones, tablets and laptops. They will attempt to install malware onto your electronic devices to steal your personal information when you enter it onto a website.

An identity theft protection service can offer you protection while surfing the internet on your favorite devices. Just install their security software, and it can block hack attempts made from the outside.

4) Reimbursement of Stolen Funds 

Some identity theft protection services will reimburse you for the money that the identity thieves stole. Your protection plan could range from $25,000 to over $1 million in reimbursed funds. That way, you don’t have to pay back the debts the identity thieves accumulated in your name.

5) Online Privacy 

Identity theft protection services can connect you to a Virtual Private Network (VPN) whenever you want to use the internet.

VPNs allow all the data transmissions from your devices to get sent through a secure private server. It prevents hackers from seeing the data as it gets sent to and from your devices.

Conclusion 

Don’t wait to enroll in an identity theft protection plan. It is better to enroll before your identity is stolen.

If your identity has already been stolen, contact the three main credit bureaus to freeze your credit profiles. After you do, contact an attorney to assist you in recovering your losses.

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