Taxpayers have gotten huge shocked upon filing their tax returns. Instead of receiving a refund, they discover a duplicate return was filed. A refund was even already issued to a different address. A taxpayer may even learn he/she owes the IRS huge sums of money as someone had been working with his/her name and social security number.
A tremendous amount of havoc occurs when someone compromises another person’s identity. There is usually one reason why anyone would steal another person’s identity: the intended purpose is financial gain. The identity thief will act anywhere funds can be compromised or stolen. Credit card numbers are stolen and used. Bank accounts are accessed and drained. Crimes may even be committed under a false identification acquired through identity theft.
Few even fathom the problems they may end up dealing with until the day arrives when the problem is revealed. The longer there is a delay in the revelation, the more disastrous the outcome ends up being.
The idea of investing in credit and identity theft monitoring becomes a smart one after looking at things from this angle.
Credit and Identity Monitoring Shields Clients
First, it must be noted that investing in a credit or identity theft monitoring service cannot prevent anything from occurring. Someone who clicks on a phishing email and provides detailed personal information is going to get in trouble regardless of paying for a monitoring service.
The monitoring service can set off a siren when someone strange happens on an individual’s financial and personal accounts. Upon learning about mysterious and unauthorized activity, the subscriber can take action. Obviously, this would not be possible without the assistance of a credit monitoring service.
For example, a credit monitoring service keeps tabs on what is logged by the major credit monitoring services. If a new credit card was recently opened, the service will note this on a routine report. Once the subscriber reviews the report and notices someone has illegally opened up a new credit card account, immediately action can be taken. Contacting law enforcement would be among the first things to do.
Ultimately, the service would shield clients from the fallout if identity theft went undetected for months and months. Even the aforementioned IRS scenario could be prevented if the service logs address/name connections. A new unknown address connected with one’s name is absolutely alarming. Action should be immediately taken to determine what to do.
The Monitoring Service May Help
A quality monitoring service is sure to afford access to counselors who can advise on steps to take when something is amiss. An experienced staff should be able to provide the necessary support to a nervous and worried subscriber. Not every credit monitoring service provides reliable counseling and assistance. Hence, a great deal of diligence must be performed before selecting an appropriate credit monitoring service.
Looking for the Best Service
Each and every service is sure to list all the features offered for a set price. Anyone interested in credit and identity theft monitoring assistance positively must look over the features and make a proper determination about what company and what plan is best. “Going cheap” for the least-costly service might not be the wisest plan. Consider credit and identity theft monitoring akin to buying an insurance policy.
Having too little protection and assistance could prove very troubling when disaster strikes.
Depending upon the service, actual insurance may even be available. Services delivering $1 million in identity theft protection insurance with a membership are out there. The $1 million covers any costs associated with identity theft restoration duties. Persons worried about costs connected to identity theft fiascos should look closely at their financial institutions’ “zero-liability clauses”. They should also check to see how identity theft is covered under a homeowner’s policy.
Reviews, Testimonials, and Reports
Potential subscribers to a credit and identity theft monitoring service should read reviews and other reports about the quality of various top companies. An identity theft/credit fraud monitoring service is being trusted with a very sacred duty. Selecting the best possible service for one’s price range is a must. Otherwise, the necessary level of peace of mind might not be there. Ultimately, the service has to put all concerns to rest and convey a sense of confidence.