Tulsa World: Protect ID for free, with a little work

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Protect ID for free, with a little work

By KATHY KRISTOF Tribune Media Service
Published: 9/21/2008 2:08 AM
Last Modified: 9/21/2008 3:01 AM

Everyone is afraid of identity theft. It seems as if every couple of days there are new reports of Social Security numbers and other sensitive information stolen, lost or leaked.

But should you spend money to buy services that promise to protect you?

As in so many matters financial, it depends: on whether you don't mind paying for something you could do yourself for free, and on whether the company offering the protection can really deliver on its promises.

Most identity theft protection services actually watch out for only one type of fraud — in which hackers or other thieves take out new credit in your name. But there are seven types of identity fraud, said Avivah Litan, vice president and analyst at Gartner Research in Stamford, Conn.

Another problem, said Jay Foley of the Identity Theft Resource Center, a San Diego nonprofit organization that does not sell monitoring services, is that most companies that claim to be preventive in fact are simply offering a way of detecting that you've already become a victim.

Some identity theft services aim at prevention rather than detection. Two such services — LifeLock and Debix — put a fraud alert on your credit file, which demands that merchants call you before issuing credit.

However, what LifeLock and Debix offer for a fee can be done for free. To place a fraud alert on your credit file, you simply need to fill out a form with one of the three major credit reporting bureaus online or by phone. The bureau you contact is supposed to pass the alert on to the other two. Start at their Web sites: tulsaworld.com/experian, tulsaworld.com/equifax or tulsaworld.com/transunion.

For a limited time, you can get free credit monitoring from TransUnion, thanks to a legal settlement that gives every American with an active credit file up to nine months of free services. Sign up at tulsaworld.com/listclassaction. But do it soon. The deadline is Sept. 24.

In addition, every consumer has the right to one free credit report per year from the three major credit bureaus. Sign up at tulsaworld.com/annualcredit.E-mail Kristof at kathy.kristof@latimes.com.

By KATHY KRISTOF Tribune Media Service

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