Identity Fraud Services

When Do You Need Identity Fraud Services?

Generally, the more time the identity thief has had with your information and the more false accounts or charges he or she has created, the more likely you are to need a service. For minor identity fraud, such as if the thief merely stole a single credit card number and you haven't lost your good credit score, you'll probably find it easier to settle matters yourself.

Some situations where a service is particularly helpful:

• If your identity has been used in mortgage or other property fraud
• If the identity thief has set up multiple accounts in your name
• If your credit score is damaged
• If you need to apply soon for a loan or a job that requires a clean credit history and you don't have the time to clean it up yourself

When you are Entitled to Identity Theft Services

Of course, there are instances where some other party failed to prevent identity theft, such as the many cases where customer or other personal data is stolen from databases. In these circumstances, you should insist that the other party provide you with identity fraud services. Make sure that their services include ongoing checks with credit agencies and other organizations; usually six months is the minimum.

What Do Services Provide?

Fraud resolution services can:

• Organize the process of contacting credit services and freezing them if necessary
• Monitor your credit afterwards at the major credit bureaus and alert you to any changes. In some states, you are entitled to this service for free once you report the theft to the authorities or are entitled to a free annual credit report whether or not you've been the victim of a theft.
• Clear fraudulent debt
• Write to or call law enforcement and other government agencies on your behalf
• Other tasks that are either too time consuming or benefit from some finesse and experience in resolving identity fraud cases

Selecting the Right ID Fraud Agency

Your bank, credit card company, insurance agent, or mortgage lender can be great resources for referrals. Some banks even have discounted programs for their regular customers.

It's important to find an organization that you can trust: One common mode of identity theft is to set up a website offering protection services or insurance and ask for information like Social Security numbers and other personal identification that they then use themselves! You can also ask colleagues, relatives and friends, or others you'd trust for recommendations.

Signs to watch out for:

• Monitoring your credit records is not expensive (and is free in some cases), so if an agency charges you more than a minor fee for the convenience, they may overcharge you elsewhere
• Any bad records with the Better Business Bureau
• An organization that hasn't been in business for long. Of course, honest new businesses have to start some time, too, but this sometimes can be a bad sign.