Identity Theft Protection Services
Frequently Asked Questions about Identity Theft Protection Services.
Can money lost due to identity theft be recovered?
Most of the identity theft protection services reviewed on NextAdvisor.com guarantee a certain amount of money, usually up to $1,000,000, to cover the costs associated with restoring your identity. These guarantees do not, however, cover money that has been lost.
Since you are not legally responsible for paying any fraudulent debt accumulated by an identity thief, the only money that is likely to be lost would be funds withdrawn from your bank accounts. It is up to your bank or financial institution to restore money that has been stolen from your accounts. Many banks voluntarily offer zero-liability policies, which means that they are effectively promising to replace any stolen funds. Visa and MasterCard also offer zero-liability policies, which extend to debit cards as well as credit cards. The money in your bank account is also federally protected, to an extent. If your debit card is lost or stolen, your liability is limited to $50.00 in losses, as long as you report the loss to your bank within 2 business days. If you report the loss within 60 calendar days from the time your bank statement is mailed, your liability is limited to $500.00. Federal protections are a bit more generous in the event that your debit card number is stolen, as opposed to the card itself.
Search our blog archives and frequently asked questions for more information about Identity Theft Protection Services
Recently answered questions about Identity Theft Protection Services:
Will someone act on my behalf if my identity is stolen?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: Do any of the identity theft protection companies you feature offer an advocates service if my identity is compromised or stolen? [...]
Does TrustedID cover legal costs to restore your identity?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: Does TrustedID also cover legal costs which may occur during the restoration of your identity after ID theft?
A: Yes. TrustedID's identity theft [...]
If someone has stolen your identity, do you get the money back?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: If someone has stolen your identity, and taken money out of your checking account or charged something using your bank account, do [...]
Will LifeLock protect my bank accounts?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: I know that LifeLock protects your credit card, Social Security, driver's license, and address changes. But what about my bank accounts? I [...]
If our identity is stolen or compromised, would LifeLock do the paperwork con...
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: If our identity is stolen or compromised, would LifeLock do the paperwork connected to clearing my name/credit?
A: If your identity [...]
Should I sign up for identity theft protection right away?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: My car was broken into tonight and my purse stolen. I have my driver license, passport, employee ID card and a [...]
How do I login to my Identity Guard account?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: I am a member [of Identity Guard], how do I sign on to the member services when I am not on [...]
Do my husband and I need the Trusted ID family plan?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: I have 2 credit cards. my husband has 3 credit cards and we both have ATM cards. We need the family [...]
What family members can be included in the Trusted ID family plan?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: What family members can be included in the same services [with Trusted ID]?
A: Trusted ID's family plan covers any family members that [...]
I think I have been the victim of identity theft. What can I do?
The following post in our Reader Question series is an actual user submitted question. To maintain the integrity of the original question, we do not edit or change reader questions in any way.
Q: I got my social on January of last year and I've been trying to make credit applying for credit cards and [...]
