Lifelock lawsuit is a huge scam that took advantage of the financial crisis and innocent homeowners in the United States. Lifelock is an Insurance Company based in Maryland that provides life insurance. This company also has a division called “Advance Life” that sells life policies and other health products. Lifelock settled for $12.5 million between LifeLock clients and the government.
Lifelock settled the suit because they have agreed to repay all the money that they have taken from the innocent homeowners in return for granting the class action suit against them.
But what is this class action suit about? This suit was filed by the US Justice Department and is based on the Fraud Accountability Act of 2021. The complaint states that Lifelock fraudulently promised to cover the cost of a policy for a period of 30 days up to a maximum of three years. The policy would not be refundable if the policyholder decides to cancel his policy before the warranty period expires. Therefore, it was fraud.
How to Protect Yourself from Identity Theft Risks?
The first thing to do in order to avoid falling prey to Lifelock lawsuit is to ensure that you understand the difference between fraudulent and non-fraudulent Insurance Company practices. Most importantly, you need to understand the difference between personal information theft and identity theft risks.
In order to get maximum compensation in case of a fraud case, most of the victims of Lifelock sued decided to withdraw their claims.
The settlement companies were very happy about this development as it meant more cash for their company without having to deal with lengthy litigation processes. This is how they generate the rest of their revenue and their success depends on it. So consumers who withdraw their claims before settlement to ensure that they are not being used by any fake or illegal protection company in order to gain further financial advantage by stealing their identities.
Apart from protecting yourself from fraudulent Insurance Companies, it is important to ensure that you are not being used by any illegal or fake cuccineering company.
There is no point wasting your time with an illegitimate company which is only out there to steal your identity and money. For this reason, you should make sure that you are going through a proven, legitimate and strong Debt Settlement Company. The best Debt Settlement Services in the market is run by Attorney’s who have a proven track record of fighting cases of credit card debtors who have been targeted by sophisticated Identity Theft Protection Services.
You should also remember to monitor your credit reports.
Credit bureaus are expected to issue Fraud Alerts once they come across any suspicious activity. If these are not addressed, your credit score will come down. This is why you should not wait until you receive a Fraud Alert in order to take remedial action. Always monitor your credit and fight back whenever you feel that someone has been tampering with your credit.