Anybody have identity theft insurance? (payment, suing, reporting, Florida)
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It's simple to add to (most) homeowner policies - and (far) cheaper to do so than taking a separate policy, particularly if it's already 'bundled' with car insurance, boat, whatever.
It's Zander Insurance, not Zanders; isn't it what Dave Ramsey touts/endorses? He appears to have quite the following in this forum (as does Warren Buffet, lol).
There are federal/state laws to protect the victim of identity theft in terms of limited liability in most cases - particularly relative to due diligence i.e. cashed fraudulent checks and so on. That said, an easy way to protect yourself is to receive text alerts re: withdrawals on bank accounts as well as any charge over $250 (or whatever) on your credit card. As soon as I swipe my card, I'm receiving an alert instantaneously.
Additionally, have a separate (low-balance) account for e-filing taxes (or any activity online) as well as regularly monitor your credit report.
I just have a credit freeze in place and monitor all my personal accounts daily for signs of theft/fraud. I personally don't see the value of an insurance policy in my case.
I just have a credit freeze in place and monitor all my personal accounts daily for signs of theft/fraud. I personally don't see the value of an insurance policy in my case.
Commercial loans can be taken out with your identity and they go through different credit agencies like D&b or moodys ...
There are horror stories on many forums about commercial loans being taken that totally bypassed the consumer agencies with their freezes .
Also by the time you reach ss age you can have lots of trouble trying to sign up for ss or Medicare with credit freezes since they need to access certain info to identify you
Commercial loans can be taken out with your identity and they go through different credit agencies like D&b or moodys ...
There are horror stories on many forums about commercial loans being taken that totally bypassed the consumer agencies with their freezes .
Also by the time you reach ss age you can have lots of trouble trying to sign up for ss or Medicare with credit freezes since they need to access certain info to identify you
Yes, a credit freeze isn't perfect BUT it is wise to protect yourself with one.
I can unfreeze the credit report in minutes if needed and then refreeze it. It costs nothing.
It is possible someone would attempt to obtain a commercial loan under my identity. I would hope a commercial lender would be wise enough not to loan money to a fictitious business with no credit history. If it ever did happen I would have to fight it on my own.
Yes, a credit freeze isn't perfect BUT it is wise to protect yourself with one.
I can unfreeze the credit report in minutes if needed and then refreeze it. It costs nothing.
It is possible someone would attempt to obtain a commercial loan under my identity. I would hope a commercial lender would be wise enough not to loan money to a fictitious business with no credit history. If it ever did happen I would have to fight it on my own.
The problem is they take that commercial loan using the name of an existing business with a history and then use your personal name to give them for a personal guarantee which is usually needed on small business
There are horror stories on many forums about commercial loans being taken that totally bypassed the consumer agencies with their freezes
Do you have any stats or links for this? Yes, it can occur, but a jet can also fall on your head. The question is how likely is it to occur. I'll bet there have been many. many more instances where a credit freeze stopped a fraud from occurring vs how many times a commercial loan was taken out after a credit freeze. Anyone who does not do a credit freeze that reason is taking a big chance.
Depending on what happens with the theft there are real horror stories out there about recovery of money gone bad so laws only help when things follow the plan .
Many times the financial institutions deny reimbursement because the T ‘s weren’t crossed and the ‘s dotted and they are well within their rights
Laws are in place to protect the victim of identity theft/fradulent activity on their account, but it doesn't mean the consumer is void of responsibility or due diligence as well. Hence the reason I stated simple steps one may take in order to monitor their accounts, so they are able to (immediately) report any suspicious activity. The sooner it's reported, the better (and lower the financial impact). Obviously, in cases (upon investigation) where they believe the 'victim' is an accessory and/or negligent, they may deny reimbursement.
Any outs and you can bet these institutions will likely go for it ....
Ever read the zero liability fine print on debit cards ?
They are not protected under the same laws even .
There is a lot of fine print on the debit card zero liability and you have no control over a good part of it .
Zero liability offers more protection than federal law; you're speaking to a condition precedent as part of the 'contract'. In other words, as I stated previously, the consumer is not void of responsibility i.e. 'reasonable care'. Hence, again, the (obvious) reason for taking simple steps to track one's accounts via alerts and so on.
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