ID Products in the Marketplace

Since identity theft is the fastest growing crime in the world, it is no wonder that several companies are also trying to cash-in. The public is being bombarded with products or services, yet no information is available educating consumers on the different types in the marketplace. So here is the low-down...

1. Credit Monitoring
History Lesson - banks and credit card companies originally created monitoring services to help their customers with their credit score. Because of the rise in identity theft, these companies have since re-packaged the same services. Remember this is only for Financial Identity Theft. This type of service will not help you if your Medical or Drivers License identity is stolen.

2. Reimbursement Policies
This type of policy gives consumers a false sense of security. It will still be up to the victim to correct the problem and submit receipts to the company. This does not reduce the time or hassle it takes to rebuild their identity.

3. Resolution Services
This type of service usually provides a 1-800 number that you may call when you have questions. This type of service is designed to help guide you through the steps to resolve the problem. This may reduce some of the time and depending on the service, maybe some of the costs associated with rebuilding your identity.

4. Restoration Plan
Companies offering restoration have professionals handle all aspects of restoring a victim's identity from financial and non-financial theft. Plans which also offer access to legal council have the ultimate program. Need I remind readers that identity theft is a legal issue.

To sum up, you cannot protect yourself from identity theft. However, there are steps you can take to help, just like firewalls or anti-virus programs for computers which do not completely prevent from hackers. On that note, I would avoid any companies that make claims that they can guarantee against identity theft. It is inevitable that everyone will have their personal information compromised in their lifetime.
I would also recommend looking at how long the identity theft company that you choose has been in business marketing their product or service... 5 years or 35 years?