ID Protection and Restoration Services

Protection services

ID theft protection services have been popularized by companies like LifeLock, whose CEO flaunts his Social Security number on billboards and trucks to prove the value of their product.

These companies place and renew fraud alerts and back their ID protection plan with ID theft insurance and/or a service guarantee. They also remove you from pre-authorized credit offers and junk mail lists. They provide resolution services (as described above) if you do become an ID theft victim.

What most companies don't tell you is that there is no foolproof security, and protection services are not foolproof. Such services are, however, the most effective in minimizing the risk of getting “hit.” The key is to remain alert, even after you have protection services in place. You must contribute to the safety of your identity by following some basic steps.

Even the CEO of LifeLock is vulnerable. In fact, he has been victimized by ID theft over 90 times now, and many consumers, five states, and a multimillion-dollar corporation are suing the company for failing to make good on its promise of full protection.

Although these services do not protect your medical, criminal/character, driver’s license, or, in most cases, Social Security identity, it is highly recommended that you obtain a protection service subscription. The best all-around solution is to pair a protection service with a restoration service.

Restoration services

Restoration services fix your identity once you become a victim.

You can compare restoration services with antivirus software on your computer—antivirus software does little to protect your computer from being attacked, but once it is, the software is very effective in cleaning it up.

Restoring your identity is the toughest, most complex part of the process, causing you much grief, taking many months to complete, and resulting in much time lost. This is exactly why a restoration service is probably the most important service to have.

These services—there are only a few—assign a forensic investigator to your case. They do the work of restoring your identity for you, including recouping any financial loss, repairing your credit, and clearing your name. They address all areas of ID theft—financial, medical, Social Security, driver’s license, and character/criminal.

You must sign a limited power of attorney so that the investigator can do the work for you. The job of the investigator is to restore your identity, top to bottom, to pre-theft status. This is a big relief for victims, who are already emotionally traumatized, and often overwhelmed, by the complex process.

Most of these services also include credit monitoring for preventive measures; however, it is imperative that you obtain a restoration service proactively—before you become a victim. Otherwise, it is considered a preexisting condition, and you will pay thousands of dollars to restore your identity.

Restoration services are offered as a monthly subscription and average $10 to $15 per month. Services such as Kroll’s Identity Theft Shield, offered through Pre-Paid Legal Services, cover the whole family for a single monthly fee.

What should you choose?

The two most comprehensive services are protection and restoration services. For peace of mind and the most all-around security before, during, and after the fact, go with both.

It’s worth the monthly $15 or so that it will cost to minimize the pain, sense of violation, expense, and time lost.