Wednesday, November 13, 2013

Key Reasons ID Theft Protection is Needed

ID theft protection is something that almost everyone needs. Having identity theft protection is important to protect your finances and to avoid spending hours dealing with a criminal act committed against you.  There are many reasons why you need protection from having your identity stolen, and once you consider the important advantages, it will be easy to see how valuable this type of protection is.

ID Theft Protection Helps You to Avoid Credit Denials

One of the biggest reasons you need ID theft protection is to make sure you do not get denied the ability to borrow money based on someone stealing your identity and misusing it to take on credit in your name. When you buy a house or a car, you may have a limited period of time to get your credit approved and make your purchase before the car is sold to someone else or your contract to buy the house expires. The last thing you want is to be derailed from a big purchase because your identity was stolen and you were not able to fix the problem in time.

ID Theft Protection Helps Protect Your Credit Score

Your credit score is one of your most important financial metrics, and a bad credit score could not only result in a denial of credit, but could also make it much more expensive for you to actually be able to borrow money. If your identity is stolen and your credit score suffers, you could end up getting a mortgage, car loan or credit card at a very high rate (if you get one at all). If you don’t realize what happened and just accept the higher rate, you could end up paying hundreds of thousands of dollars more over your lifetime.

ID Theft Protection Can Help Catch Identity Thieves Quicker

When your identity is stolen, you can take steps to get the negative information removed from your credit report and to fix the damage that was done to your credit. However, it can take a lot of time as you deal with police reports, contacting each of the creditors and contacting the credit bureaus.  If you are able to catch identity thieves sooner because you check your credit reports or are alerted to a problem, then you can avoid spending tons of time dealing with the theft of your identity.

Services such as IDENTITY GUARD® help to empower you in the fight against identity theft. Learn more about ID theft protection services today.

1 comment:

  1. You probably can't imagine it, but at this moment someone could've taken your picture and name and present himself as you on the internet. Identity theft is real modern threat, many people who have their online business and work with clients virtually are already using identity guard services. In http://www.noidentitytheft.com/ you can find more info about it.

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