By Paul D. McDonald, M.B.A.
We live in an information-oriented society. Technology allows us
to do business and make transactions literally in a matter of
seconds. This abundance of information has given rise to a new
crime - identity theft. In fact, according to a 2003 release
from the Federal Trade Commission, approximately 27 million
Americans have fallen prey to identity thieves since 1999. Each
year that number climbs higher and higher. In 2003 alone, almost
10 million people in the United States reported being victimized
by identity bandits.
So what does that mean? Someone has stolen your credit card -
your credit card company can help you with that, right?
Well, according to the FTC, almost 60% of identity theft issues
don’t pertain to your existing credit card accounts. Identity
theft can occur as a result of new lines of credit being opened
in your name either through credit cards or bank loans, as well
as phone/utility fraud and even employment related fraud.
Because we are susceptible through so many avenues in our daily
life, we are all at risk.
What can you do? Where would you turn if you found yourself in
this situation? Would you know where to start to clear your
name? Well, now you don’t have to worry about what to do as we
have the answer.
As you already know, Pre-Paid Legal Services®, Inc. is a pioneer
of the legal services industry. With more than 30 years of
experience in providing legal rights protection to our members,
we have now teamed with Kroll Inc., the world’s largest risk
consulting company.
For more than 30 years, Kroll has helped companies, government
agencies and individuals reduce their exposure to risk and
capitalize on business opportunities. Kroll is an operating unit
of Marsh Inc., the risk and insurance services subsidiary of
Marsh & McLennan Companies, Inc., the global professional
services .rm. With offices in more than 60 cities in the United
States and abroad, Kroll can operate and restructure businesses;
scrutinize accounting practices and financial documents; gather
and filter electronic evidence for attorneys; recover lost or
damaged data from computers and servers; conduct in-depth
investigations; screen domestic and foreign-born job candidates;
protect individuals, and enhance security systems and
procedures. Over the last three years, Kroll has developed a
unique solution for victims of identity theft. This new service
is now available to Pre-Paid Legal members through the IDENTITY
THEFT SHIELD benefit.
What does this benefit provide our members? The Identity Theft
Shield gives you easy access to the resources you need to
understand your credit ratings and to fight back if an identity
thief threatens your financial standing. This benefit is
designed to alert you to suspicious account activity, and to
restore any resulting damage to your credit history.
1. Credit Report Through Experian
Make sure your financial records are accurate. Your credit
standing is one of your most important financial assets. It not
only affects your ability to get credit, it often dictates the
interest rate at which you can borrow. It can also affect your
ability to purchase insurance or to find employment. Some
insurance companies and prospective employers use your credit
rating to gauge your sense of responsibility.
Experts recommend you review your credit report regularly. The
Identity Theft Shield makes it easy. Members are entitled to an
up-to-date credit report from Experian at no additional charge.
Personal Credit Score and Analysis from Experian. Know your
credit score . . . and how it affects your ability to borrow.
Your credit score is derived from the information in your credit
report. This score is used by lenders to determine your
creditworthiness. The higher the number, the better your chance
of being approved for the credit you want. A detailed analysis
of your Personal Credit Score will be included with your Credit
Report. You can use this analysis to evaluate your current
credit standing.
2. Continuous Credit Monitoring Through Experian
Learn of suspicious activity before your credit is ruined. A
professional thief can assume your identity in just a few hours.
But it can take years for you to repair your credit standing.
Early detection is key to minimizing the damage caused by
thieves who steal you name.
With your Identity Theft Shield membership, your credit .les
will be monitored through Experian daily. Suspicious activity
will be brought to your attention, providing you with early
detection. You’ll receive prompt notice if any new accounts are
opened in your name . . . or if negative notations are added to
your credit report.
3. Fraud Restoration Service
Get personal assistance and advice from experts. Any discrepancy
in your credit report should be addressed at once. Call our
Customer Service Department at the designated Identity Theft
Shield number and explain your concerns. If it is identity
theft, our fraud investigators will assist you every step of the
way. A Fraud Restoration package with complete and detailed
materials, aids, and instructions will be rushed to you.
If you sign a Limited Power of Attorney, you will be entitled to
Enhanced Restoration Services. Kroll will work with you to
determine the extent of the fraud in your credit and regarding
your identity. On your behalf, Kroll will issue fraud alerts to
the three major credit repositories, the Federal Trade
Commission, the Social Security Administration, and the United
States Postal Service. Kroll will work with the bureaus,
creditors, and collection agencies to restore your credit
accuracy with regard to your identity theft issues. If necessary
and reasonable, Kroll will work with law enforcement, the
department of motor vehicles, and other organizations to resolve
your identity theft issues
If you decline the Limited Power of Attorney, you will receive
Basic Consulting Services. Kroll will work with you to determine
the extent of the fraud in your credit and regarding your
identity. Kroll will provide you with contact information and
procedures for the organizations you will need to work with.
Kroll will provide sample letters and forms and be available to
you through a toll-free phone number for assistance and advice
throughout the process of restoring your identity.
Now, it is important to understand any identity theft that
occurred prior to the membership enrollment or any situations
relating to a business identity are not covered. Identity
Restoration will not apply if the identity theft is the result
of a dishonest, criminal, malicious, or fraudulent act you, your
spouse, or child participated in, directed, or had knowledge of.
Restoration services will not be provided for a preexisting,
known stolen identity event. You must be an active, paid member
to receive restoration services. Plan benefits do not cover
financial losses arising from the identity theft.
Did you know, that on average, victims spend more than 175 hours
and $1,500 in out-of-pocket expenses to clear their names? With
Pre-Paid Legal’s IDENTITY THEFT SHIELD, the cost of combating
identity theft is much less. For just $12.95 a month [$9.95
along with the Pre-Paid Legal membership], IDENTITY THEFT SHIELD
members have the added security of knowing they have someone to
fight the battle for them. And the best thing is, this monthly
fee provides benefits to you, the member, and your spouse.
Reports on identity theft are everywhere - television,
newspapers, magazines, talk shows, etc. Now that you know this
benefit is available, doesn’t it make sense to have this sort of
coverage? Imagine the peace of mind you would have knowing you
and your spouse would have access to all of these services if
you found yourself to be an identity theft statistic? Contact
Paul D. McDonald, Independent Associate, to sign up for your
Identity Theft membership by calling toll-free 1-877-711-1264.
Don’t wait until it is too late - do it today!
For a full list of disclosures and exclusions, please consult
the Identity Theft Shield written material provided by Pre- Paid
Legal.