Deal of the day: 30 days free, Complete ID Theft Protection

November 4th, 2009 by Credit Manager No comments »

images77This months deal of the day is definitely going to Lifelock. The company is offering a 30 day free trial and 10% off if you decide to join.

Before you assume this is another useless service, let me tell you some of what you  get with Lifelock.

Here are just a few of the long list of benefits and services you get from a measly $10.00 per month. I don’t know about you but I pay that much for my Netflix membership. I think my credit and identity is equally important- lets say- if I am in denial and think its only worth a movie or two.

Lifelock is extensive in its coverage to say the least. If you are the least bit worried about identity theft, then this service is a must.  $10.00 a month is pretty much a no brainer- but in case you still aren’t sure then take advantage of their promotion right now for 30 days free.

Here’s part of what you get. Again, there is more and you can take a deeper look on their very well put together and educational website. We think this service is fantastic and no other company has matched all that it gives.

LifeLock Identity Alert™ - Advanced LifeLock Identity Alert™ system provides you broader identity coverage, greater control, and early notification of potential identity threats. We alert you by email, postal mail, and/or phone whenever we detect your personal information being used to apply for many forms of credit cards, wireless services, retail credit, utilities, check orders/reorders, mortgage loans, auto loans, and non-credit related payday loans. If the application is fraudulent, our remediation team will take action to help restore your good name.

eRecon™ – Using industry-leading technology our eRecon™ service scours thousands of known criminal websites for the illegal selling or trading of your personal information (including your Social Security number, credit card number, driver’s license and email address, if provided). When we find a piece of your identity on one of these black market sites, we alert you and help you take steps to resolve the problem.

TrueAddress™ – By submitting a change of address request, identity thieves can divert your mail to steal your personal and financial information. TrueAddress™ is designed to proactively detect any new address information in address databases nationwide. Once detected, we notify you and if the address change is, we work with you to help avoid further damage, and restore accurate address information.

WalletLock™ – A lost or stolen wallet can mean hours of contacting police, banks, and government agencies before an identity thief uses your information to their advantage. As a LifeLock member, if your wallet goes missing, just give us a call – anytime, anywhere – and a WalletLock™ specialist will help cancel and replace the lost contents of your wallet, including your credit/debit cards, driver’s license, social security card, insurance cards, checkbook – even travelers checks. (Pictures, cash, and other monies are excluded. Member is responsible for all applicable fees charged by document issuing companies to replace lost or stolen documents.)

We’ve tried some services like this before but they did not match up to Lifelock and all that their protection encompasses. How can you argue when it’s $10.00 a month and offers all this?

We get lots of emails about people who have been victims of identity theft and it is a nightmare that can last years. What we like about Lifelock is that its core is a PREVENTION service,which is what was missing from this type of service before. Most so called identity theft programs only helped you AFTER the theft occurred. This proactive mechanism definitely makes Lifelock stand out.

30 days FREE plus 10% off on a monthly and annual subscription! Use coupon code NOVEMBERCOUPON. Offer good through 11/30/09 only.

Related: Complete Identity Theft Resources and Education

Will paying off a debt remove it from my credit reports

November 2nd, 2009 by Credit Manager No comments »

money- troublesWell that depends on you. Yes you. If you have a debt in collections and you’ve decided to pay it off because someone advised you to do so- perhaps a mortgage lender, then you’d be surprised to know that that may be a very bad idea.

If an account has been placed on your credit reports that is negative such as a charge off, collection account or repossession, simply paying the balance will NOT improve your credit. Here’s why.

A bad account status like a charge off, collection account, repo, foreclosure etc is considered negative and as bad as it gets. The rating is commonly referred to as an R-9. To put this in perspective, an R-1 is a perfect credit rating. An R-9 is negative and unfortunately if you pay an R-9, its still an R-9. Its simply paid now, which has released you from financial liability but your credit reports are still left in ruin.

The best route to take is to NEGOTIATE THE RATING IN EXCHANGE FOR THE PAYOFF.  It’s done everyday- believe it or not. Sure an original creditor may not agree to these terms but a third party debt collector will. Most negative accounts past 180 days delinquent are sent to third party debt collectors. Once that process happens, you are in a better position as far as negotiations of the credit rating go.

A third party debt collector will often settle the account and delete the credit rating because all they are concerned with is getting paid. An original creditor will not approach a debt this way, but a bill collector will.

By getting the debt collector to agree to settle the debt for this exchange, you will gain something from the payoff as well.  Keep in mind there are a few instances where you will want to pay the debt off even if the collector refuses to improve your credit rating.

For example, a collector has absolutely refused to remove the rating, you’ve received validation that the debt is accurate and you need this account to show paid because either you are being forced to by a lender before they issue you a loan, or you want the collection agencies to leave you alone and are worried about being sued. This is when you need to pay the debt if negotiations have fallen through.

When dealing with a collection item you must always attempt to negotiate the rating before you pay a dime. Not doing so is a very bad financial move because chances are, you will get your way. Can you imagine having an item completely wiped away from your credit reports from just a little effort? It’s definitely worth your time.

Related to this story} Validating a debt, how to | Dealing with collection agencies | Sending a cease and desist letter to stop collection harassment.

Article written by credit expert, Kristi Feathers. Kristi can be contacted via her website at www. KristiFeathers.com

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