LifeLock Being Sued By Experian Over Credit Alerts
May 20th, 2012
Fraud alerts can be instrumental in preventing identity thefts. Once a fraud alert has been placed in your credit profile, any prospective creditor referring to this credit file to grant extension of credit or new credit in your name needs to take certain responsible steps towards verifying your identity and ascertaining that its you who wants to obtain credit. This way, the credit lending agencies confirm that the credit application is in no way the result of identity theft. These agencies can contact you via email, telephone or any other way to verify the legitimacy of the application. After getting a call from your creditors, you can confirm whether you're the actual applicant. This way, you can also prevent some other person from obtaining credit using your name.
People can get fraud alerts placed on their credit profiles; however, for this, they'll need to invest a considerable amount of time and effort. LifeLock made this a lot easier and convenient for its customers. It ensured that its customers' fraud alerts were present on their information with all three prominent credit-reporting organizations including Experian, Equifax and TransUnion. LifeLock's Fraud alert service remained valid for 90 days. Prior to the lawsuit, LifeLock ensured to automatically renew the fraud alerts of its customers after every 90 days. Thus, LifeLock could save significant amounts of time for its customers by carrying on the responsibility of placing fraud alerts on their credit files. All this at a minimal monthly fee of $10. In light of these benefits, LifeLock being sued by Experian credit bureau should come as a shock to its customers.
Experian, one of the three major credit bureaus in the country filed a lawsuit against LifeLock stating that it's illegal for the company to place fraud alerts on behalf of its customers on their credit profiles. Experian stated that no one else but the consumers have the right to place fraud alerts on their respective credit reports. In response to this lawsuit filed by Experian, a federal judge passed a judgment against LifeLock and ordered it to stop setting fraud alerts on behalf of the consumers.
As is obvious, LifeLock being sued by the Experian may be bad news for its customers. Hence, the judgment was surely not in the best interest of the consumers. None of the customers would have expected LifeLock being sued by Experian.
However, even though the judge ruled in favor of Experian, LifeLock continues to provide the highest level of identity theft protection for it’s customers and is continually finding new and improved ways to protect ones identity. LifeLock’s new Identity Alert System monitors both service and credit account applications to check for the misuse of your valuable information. And, Just announced, LifeLock has released a new and improved Identity Theft system that uses state-of-the-art technology to monitor personal information called LifeLock Command Center. For your Risk Free 30 Day Trial and 10% Off, click on the button below and SAVE!
