ALPA and Lifelock
#21
Well John, According to my personal experience as well as as the actual experience of the above posters your comment is incorrect. I will try and research/post more data. As my personal experience shows ALPA's gain for us is a good move. I am confounded by the small number (same posters) who are negative. But.......as i said It has worked for me very well, as well as some of the above. I don't have a dog in this fight except that it worked for me. I hope it works for all here 'cause the alternative is an ugly solo battle to restore ones good name and credit....good luck
First, the FTC fined Lifelock for the same IT practices and password practices that are utilized by the three major credit reporting bureaus (Equifax, Trans Union and Experian). They fortunately got a pass.
Second, the Lifelock system can not prevent shoddy lenders and creditors who fail to do real credit/identity checks at the point of sale. This is the second reason why the FTC fined Lifelock because they overstated what types of ID theft they could prevent. Obviously, that is not the case and the FTC was compelled to act. MX727 is correct, looking back at my situation, Lifelock probably would not have been able to stop my ID theft. But neither did the credit monitoring that I subscribed to by the credit reporting agencies.
Third, for someone who blasted his SSN across TV, radio, billboards, and on trucks across the USA, only having 13 issues show up on Lifelock CEO's credit report is pretty amazing. I mean, if anything, it shows the Lifelock system works in some aspects. And the total fraudulent amount put onto his credit report was only a few thousand dollars -- well short of what was stolen from my account.
Fourth, Experian complained that Lifelock was burdening them with fraud alerts which can be renewed for free every three months. The law states that the credit agencies must honor these alerts. But Experian claimed that because of all of the people signing up for Lifelock and the automatic fraud alert notices generated every three months, Experian successfully convinced a judge that their company was being overburdened. People who used Lifelock thought the small fee to Lifelock was well worth having Lifelock manage these requests. But let's go full circle. The credit agencies were protecting their own newly created ID theft and credit reporting programs that you can buy.
Fifth ... and finally, the entire credit system is corrupt (shocker, yah I know). It is setup to make the lenders, banks, and collectors rich. The downside to this is that Americans suffer. Your SSN should never have been allowed to be used by the financial system as an identity ID. Creditors and lendors like Verizon and ATT who fail to do real background/identity/credit checks get to play the "victim" as they sell those accounts off to collection agencies, who then come preying on the real victims for the debts which never should have been issued in the first place. And if you've been the victim of ID theft, then you know how painful it is to clear your name and the frustration of being hunted down by collectors. Sadly though, neither the government nor the financial industry is pushing to change this broken system.
Lifelock initially overstated their capabilities. Since the fine, they've changed what ID thefts they claim to protect against, as well as, added new hi-tech methods to protect their clients in ways they can not do for themselves. They continue to teach, share information, and work with law enforcement, credit agencies, consumers, and lenders to help the public protect itself from ID theft. The FTC and attorney generals who sued/fined Lifelock should instead be working with them, being a part of the solution. Otherwise it is the public who ends up suffering.
#22
Gets Weekends Off
Joined APC: Jun 2008
Posts: 384
Everything lifelock does you can do yourself with a little research and time. Be vigilent and place 90 day credit freezes on your credit reports for free. No instant credit allowed and your good. All it takes is a little dedication in requesting the freezes every 90 days for free. Set all your bank and credit card notifications to send transactions info to your email daily and again you'll know what's going on with your accounts pretty quick. Run your free annual credit reports too.
#23
Everything lifelock does you can do yourself with a little research and time. Be vigilent and place 90 day credit freezes on your credit reports for free. No instant credit allowed and your good. All it takes is a little dedication in requesting the freezes every 90 days for free. Set all your bank and credit card notifications to send transactions info to your email daily and again you'll know what's going on with your accounts pretty quick. Run your free annual credit reports too.
#24
On Reserve
Thread Starter
Joined APC: Sep 2012
Position: MD11 F/O
Posts: 16
Everything lifelock does you can do yourself with a little research and time. Be vigilent and place 90 day credit freezes on your credit reports for free. No instant credit allowed and your good. All it takes is a little dedication in requesting the freezes every 90 days for free. Set all your bank and credit card notifications to send transactions info to your email daily and again you'll know what's going on with your accounts pretty quick. Run your free annual credit reports too.