Exerian, one of the top three credit reporting services has sued lifelock, a company that sells identity theft protection services. You may or may not heard about this in the news.
Allegedly, Lifelock is a bit of fraudy side and Experian says “credit laws do not provide for a third party to place fraud alerts on behalf of a consumer.â€
Big credit reporting bureau trying to preserve their profits and keeping Lifelock from filing fraud alerts on their customer’s behalves. It’s nothing new is it? It’s the people’s privacy that’s at stake as identity theft increases steadily!
What exactly is Lifelock anyway, I asked myself. So I went to find out.
Basically their service is all about fraud alerts and protecting your identity. The fraud alerts are meant to alert anyone who gets their hands on your credit, social security number ect… and is then supposed to be extra cautious and check back to make sure transactions are in fact valid.
Your credit bureau is asked to file fraud alerts on your behalf which is repeated every 90 days. Lifelock also requests for your name to be removed from unwanted junk mail or pre-approved credit card list as well as ordering free credit reports on your behalf.
Another service they offer is called Walletlock; which basically helps you cancel cards, handles paperwork and so forth is your wallet get’s stolen or goes missing.
And perhaps the most useful service comes into place if your identity gets stolen. Lifelock will cover costs, hire lawyers, investigators and help you to get back on track and recover your good name.
A rather useful service.