Frequently Asked Questions

1. What is Identity Theft?
2. What is a fraud alert?
3. If I check my credit report once a year, is that enough to be safe from identity theft?
4. What is Privacy Consulting?
5. Wouldn’t it be easier for me to enroll in a monitoring service from a credit bureau or a company like Life Lock©?
6. If I purchase monitoring services from a credit bureau or the Secure Manage service from PSP will I be 100% protected?
7. What is the most important piece of my personal information?
8. Will I have to disclose personal information in order to receive services from Privacy Solution Partners?
9. Is time a factor once I confirm that my identity had been compromised?
10. How fast will my personal information be restricted if I purchase the Secure Manage service?

 

1. What is Identity Theft?

Due to the potency of identity theft crime Federal regulators (including the Federal Trade Commission) define identity theft as a fraud committed or attempted using the identifying information of another person without authority.  The FTC further defines identifying information as any name or number that may be used, alone or in conjunction with any other information, to identify a specific person. 

2. What is a fraud alert?

As a response to credit misuse and identity theft, congress passed the Fair and Accurate Credit Reporting Act.  As part of this act, the three major credit reporting bureaus are required to offer consumers 3 types of protective alerts to place on their credit reports when their personal information is compromised.  Depending on the scenario a consumer may place an “Initial” or “Extended” fraud alert (at no charge) on their credit report.  Active members of the military have option to utilize an “Active Military” fraud alert.
 

3. If I check my credit report once a year, is that enough to be safe from identity theft?

If you ask your dentist – If I brush once a day, will I have healthy teeth?  He will probably state that brushing twice a day (as opposed to once) will give you healthier teeth.  The same philosophy could be applied to viewing your credit report.  While checking your credit report once a year is a good start, you have the ability to request a report from each of the 3 major credit bureaus in a calendar year.  You should remember one important detail though.  Checking your credit report will not prevent identity theft, it will only inform you of your credit health and help you identify potential risk exposures. 

4. What is Privacy Consulting?

While there can be many answers to that question, PSP believes that privacy consulting is the service of providing clients the education, information, and tools to restrict their personal information on a level that meets their lifestyle.

5. Wouldn’t it be easier for me to enroll in a monitoring service from a credit bureau or a company like Life Lock©?

Privacy Solution Partners believes that monitoring services serve a vital role in the battle against identity theft.  However, did you know that companies like Life Lock© charge consumers for monitoring services that they can obtain for free?  Monitoring services are a reactive tool that should be utilized when needed.  PSP advocates prevention for our clients.  Our goal is to educate clients so they can protect themselves over the course of their life without paying for costly monitoring services.

6. If I purchase monitoring services from a credit bureau or the Secure Manage service from PSP will I be 100% protected?

Unfortunately, neither monitoring services nor our Secure Manage service can 100% guarantee the prevention of identity theft.  Have you ever wondered why a company like Life Lock© offers each customer a $1 million guarantee with their monitoring services?  If there service was impenetrable, why would they offer the guarantee?  It is because one cannot predict the misplaced IRS laptop or gullible DMV employee that gets conned.  However, using Privacy Solution Partners’ strategies will undoubtedly restrict the access other individuals have to your personal information. 

7. What is the most important piece of my personal information?

There are four critical pieces of your personal information: full name; home address; social security number; and date of birth.  While a full social security number is typically the most difficult, you should guard each piece of information equally.
 

8. Will I have to disclose personal information in order to receive services from Privacy Solution Partners?

Privacy Solution Partners operates in a similar capacity as a personal accountant.  In order to adequately advise our clients we obtain the minimum amount of information we need to ensure your best interests.  In addition, we execute confidentiality agreements with each of our clients.

9. Is time a factor once I confirm that my identity had been compromised?

If you believe your personal information has been compromised you should take quick action.  Take the immediate response measures once you have been compromised will not only expedite your road to recovery but increase the ability to locate and prosecute the criminal.
 

10. How fast will my personal information be restricted if I purchase the Secure Manage service?

The ability you will have to restrict your information will greatly depend on several factors.  Just a few of these factors include: if (and how) you own real estate; if you have a driver’s license; and if you register to vote.  Restricting information in most instances does not occur overnight, however you should follow the same philosophy with restricting information as saving money.  The earlier you start, the better off you will be in the future.  Learn how to start the process in the services section of our website.