Time vs Money- It Always Comes Down to This

Not long ago I told you that a company I contract for had their computers stolen from their office, putting my personal information (and the information of thousands of others) at risk for identity theft.

At that time I followed all the instructions given to me and placed a fraud alert on my credit reports. And let me tell you, it was a huge hassle to do. It almost seemed to me like Experian (the company I was told to contact) really didn’t want to help me protect my credit. What they did want to do, however, was offer me a credit protection service- which I was never able to use, which had awful customer service and which really didn’t give me anything for my money.

Now, fraud alerts are only good for 90 days and who knows how long the information from those stolen computers will be out there (or how long it may take for someone to hack it). So I had to remember to renew those alerts. It was a big hassle.

So I signed up for lifelock. They not only renew my fraud alert but they also stop the insurgence of junk mail by limiting the credit bureaus ability to sell my information and back their service with a one million dollar guarantee.

Now I see that Experian is suing Lifelock alleging "credit laws do not provide for a third party to place fraud alerts on behalf of a consumer.” I think that’s a pretty sticky line they are walking, especially if the consumer hires the firm to do just that.

Personally I think Experian is feeling the crunch as they are becoming more limited in the information they can sell and the fact that Lifelock is doing a better job of protecting people.

They are also alleging that Lifelock isn’t disclosing that you can handle all of these things yourself- but they do. They liken it to changing your own oil. Yep, you can do it yourself, but it’s time consuming and messy. As is dealing with the credit bureaus.

Myself, I have better things to do with my time than sit on hold and handle all the stuff Lifelock does for us. Anyone for Play-Doh?