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Q: Should I Consider a Credit Monitoring Plan to Protect Against ID Theft?

2011 June 13
Credit Monitoring and other Identity Monitoring programs focus strictly on financial fraud, and these measures have been proven to  have limited preventative benefit since many lenders never check credit bureaus or other outlets before issuing credit.  If any other type of ID Theft occurs then their plan does not provide any protection. Taking preventative measures are important but since they are not a fail safe and most steps you can do yourself for free there is no reason to pay for these services.  You can place your own fraud alerts and credit freezes along with enroll in Do Not Call and Credit Card Opt Out programs…all for no cost.  You can also order copies of your credit reports three times per year so if you stagger the reports you can basically monitor your credit bureau report for any improper activity…for free.  These are the steps that Dave recommends that end up helping reduce your risk and not spend a penny more for hype since your money can be used for better things such as paying down debt.
The reason to consider purchasing our ID Theft plan is that ID Theft occurs in so many places and has become so much more than just financial fraud.  Our plan simply does not charge you for preventative services that you can do for yourself for free that may be beneficial but not anywhere near full proof.  Dave’s emphasis and endorsement of our plan is based on his opinion that you need to focus on the true risk of ID Theft which is the time and effort that it takes to clean up the mess.  Since we cover all types of ID Theft, including Social Security Fraud, Medical ID Theft, Employment, Benefit and Family Fraud (the only plan to do so) as well as criminal acts committed in your name our plan is much more expansive in it’s protection that any other plans on the market.  We take over all the work to restore your identity to pre-theft status and have a 100% success rate…and are less expensive.   There is no dollar limit to the amount of time or effort we make to restore your identity to pre-theft status.  Our $1 Million reimbursement benefit covers unauthorized stolen funds from bank accounts and provides compensation to our members if they incur expenses while we restore your identity.  These are often very limited but may include lost pay or vacation time (if you have to go to court to testify), Legal fees, Notary or Fed-Ex charges, Long Distance phone bills, etc.  Overall we offer a much more expansive protection plan which costs less which is why Dave recommends it to his listeners and has purchased it for his family and all of his team members.
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