Comments on: Is Identity Theft Insurance Worth the Cost?

By: Jeff Zander

Jeff Zander — Tue, 09 Sep 2008 01:33:48 +0000

Your comment posted by KK is the answer to allthe questions posed. No plan can guarantee that you won’t become a victim, though some advertise that they can, but in the event that you do become a victim a plan which provides full restoration and takes over all the work is where the value is found. You can do all the work yourself but contacting the credit bureaus, filing fraud alerts and placing freezes on your report is the easy part. As KK pointed out…convincing a creditor and their collectors that it was not you who created the debt is an extremely frustrating and time consuming process. Kiplinger’s recently wrote that if you do consider ID Theft protection that a plan with restoration services is the only type to purchase since most other plans are based on hype and over-emphasize the prevention side. ID Theft occurs more frequently than car thefts and home burglaries combined and people ultimately have the choice to protect themselves or self-insure. I can sleep at night not having the coverage but it is a convenience and a blessing if it does occur.

By: Beverly Terhune

Beverly Terhune — Fri, 18 Jul 2008 03:34:05 +0000

What about drivers license being used, social security being used, arrests being made?

Fixing the credit is the easy part of cleaning up your identity theft. A person can use your social security number, license and info gained from data bases (professional hackers). Then they can buy a car, get arrested, use your medical ins- run up a hospital bill, get things on your medical records that are not your illnesses etc. What about those problems?

By: Why Does Dave Ramsey Push Identity Theft Insurance*? « Finance Gets Personal

Wed, 19 Mar 2008 03:21:53 +0000

[...] about why buying identity theft insurance is a dumb idea, please read Single Ma’s post, Is Identity Theft Insurance Worth the Cost?, at Fabulous [...]

By: KK

KK — Fri, 25 Jan 2008 01:23:18 +0000

I was a vic of ID Theft in 2001. It took me at least 50-60 hours of my work time and personal time to get everything cleaned up. I would have GLADLY paid a couple of hundred bucks to have someone deal with the phone calls, police reports, avidavits. letters, emails, etc.

Calling the credit agencies and creditors, closing the false accounts and putting a block on the three agencies was the easy part. It was dealing with the fall out:

* collection agencies,
* making sure the creditors actually CLOSE the account
* dealing with bank investigators (the scum created fake checks too!)

I didn’t shell out a penny but it was a giant pain-in-butt. I still have blocks on my credit….

By: seeking financial camelot

seeking financial camelot — Thu, 24 Jan 2008 23:56:27 +0000

You are SO fab!! What a great way to break it down to your readers. We all have to take responsibility for monitoring our own credit files for accuracy.