Should you Really Worry About Getting Identity Theft Protection Service?

You must be hearing that every year number ofservice'?
identity theft victims has been rising exponentially.1. Tracking of credit report, police report, medical
There are already millions of identity theft victimsrecords 2. Alert in case any suspicious activity
so far. With "Nobody is spared" situation, you areshows up 3. Assistance in the process of clearing
as much likely as anybody else. As you can notcredit through financial formalities
ignore the possibility of your identity theft, youWhile you are seeking assistance from the
are left with two ways either to protect yourcompany, the company may require some
identity yourself or hire professional service in thissensitive information from you.
regards.Different plans offered for Identity Theft
What Statistics says?Protection
It is claimed that the identity theft is the fastestThe basic of all plans is "Tracking of credit report
growing crime. It is worldwide but more prevalent& alert in case suspicious transactions" Some
in developed countries. Considering details of USAcompanies offer basic service while some offer
for year 2006 only, there were close to 10 millionin-depth service.
people were victimized fro their identity theft. You• Under the basic plan you will receive
can compare it with figures of year 2004 to findalert whenever there is a new account is opened
that the number of victims has grown almost 10or a new inquiry appears on your report. You can
times. The striking fact of the identity theftget this basic plan free from many lenders.
report shows in most of the cases the thief• More detailed plan for identity theft
comes out to be a relative or a friend of victim.protection - you are charge a fee: This plan
On an average identity victim loses around $500.includes monthly reports (against yearly report in
If you are lucky, you may not pay anything asbasic plan) and counseling services. Some
most companies no longer hold customer youcompanies also cover of out-of-pocket fees in
accountable for any charges made throughcase you fall victim to identity theft.
identity theft. At the same time you should not• There are also comprehensive plan
feel sheltered from statistic only as you can beavailable which covers each & every cost
the 'unfortunate' to lose much more in someconsumer incur through identity theft. Obviously
worst situations. Statistics also warn that with thethese plans charge much higher fees.
continuous changes in the cases of identity theft,With all this information, you will be in a better
you can not fully assured by the companiesposition to decide if you should pay for identity
providing identity theft protection service.theft protection or just being careful is sufficient.
What is offered under 'Identity theft protection