Better Alternatives to Buying Credit Monitoring

Better Alternatives to Buying Credit Monitoring The credit agencies are eager to sell you credit monitoring at about $20/month. Here are reasons not to buy it. It doesn’t prevent ID theft, it only tells you after the theft has been committed – the proverbial shutting the barn door after the horse has run away. If you are really threatened with identity theft, you can put a security freeze on your credit files that actually prevents the ID theft by locking out access from the credit reports. Credit monitoring is not a good value proposition. You can check your credit report...

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FTC’s ID Theft Project

The Federal Trade Commission has a site for ID theft victims that covers every type of ID theft. The site has advice for consumers on how they may protect themselves against ID theft and what to do when their ID is stolen. The FTC has also made available a guidebook for assisting identity theft victims. For example, the guide details how consumers may get assistance in resolving ID theft, sample letters to send to credit reporting agencies and creditors, and the best way to dispute claims by debt collectors.

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