by Guest » Tue Jan 12, 2010 07:39 am
I've suffered a lot ever since I got in a car accident and lost my wallet in Dec last year. I'd lost 5 of my credit cards, papers and failed to meet some financial obligations till I regained consciousness. I was already in a crunch and now shocked to receive bills amounting to scary figures! They tell that I should've maintained an identity theft protection. Is this an insurance policy!
Posted: Wed Jan 13, 2010 05:20 am Post Subject:
They tell that I should've maintained an identity theft protection.
Definitely! It's good to know that you've checked out your credit card bills and know your problem. Identity theft protection could be obtained as an add-on with your existing home insurance. You may also get it attached to your auto insurance policy.
Posted: Thu Jan 14, 2010 07:41 am Post Subject:
Hi Steven,
Identity theft protection could be obtained as an add-on with your existing home insurance.
Now-a-days banks would also offer you such identity theft protection.
You may also check if you can have this benefit through other financial institutes that you're associated with. Roddick
Posted: Fri Jan 15, 2010 05:18 am Post Subject:
There are some credit card companies and banks that would offer identity theft protection programs to you. So, these plans are not a part of any insurance plan. Such plans would often be offered by your employer. But make sure you understand all aspects carefully if you're gonna accept a tele-sales program regarding identity theft.
Posted: Sat Jan 16, 2010 09:34 am Post Subject:
It's true that the credit card companies would cover your account for any fraudulent charges but their identity theft programs are costlier at times. It also poses a problem to have a program through a credit card company as they'd charge it out of their card that they have with you.
Posted: Sat Jan 16, 2010 10:20 am Post Subject:
It's true that the credit card companies would cover your account for any fraudulent charges but their identity theft programs are costlier at times.
Insurers don't cover for such fraudulent charges. They'd rather cover for other charges like the telephone charges, legal costs and for the time lapse while rectifying errors.
Posted: Sat Jan 16, 2010 10:57 am Post Subject:
You could also get identity theft protection coverage offers against your checking account or against other financial services. Your bank might charge you a very small fee for this protection or may choose to offer it for free.
Posted: Mon Jan 18, 2010 07:12 am Post Subject:
Do you know anything about how the identity theft protection companies work? They'd request the credit bureaus to place fraud alerts against your credit report.
Once a creditor comes across such an alert against your name, your identification would be verified before they'd add credit to your name.
Posted: Tue Jan 19, 2010 06:58 am Post Subject:
They'd request the credit bureaus to place fraud alerts against your credit report.
Actually, they'd prevent the release of your credit report by the CB to a third party till they obtain your permission. They'd also get you a free copy of the credit report every year.
Posted: Wed Jan 20, 2010 10:44 am Post Subject:
Identity theft protection companies would try to remove your name from the junk mailing lists. They'd see to it that you don't get caught up with credit offers (through mails) before they get stolen.
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