Irony of the Week: Lifelock CEOÃ¢â‚¬â„¢s Identity Stolen
Todd Davis, who is so confident in the strength of his LifeLock identity theft protection service that he posts his social security number on the companyÃ¢â‚¬â„¢s website, has had his identity stolen by a fast cash loan crook. Davis, who founded and is the CEO of LifeLock, has offered extravagant guarantees to LifeLock customers that their identities cannot / will not be plundered if the subscribe to the service. Yet, a man in Fort Worth, Texas, was able to use DavisÃ¢â‚¬â„¢ information (including the freely given social security number) to access a faxless payday loan in his name. Davis only became aware of the issue when a collections agency called him to let him know that Ã¢â‚¬Å“hisÃ¢â‚¬Â cash advance obligation was overdue. Payday loans are, of course, the much-ballyhooed short-term, high-interest personal loans with no end of controversy attached to their use. A private investigator hired by Davis tracked down Daniel Keith Brown, who admitted to having stolen DavisÃ¢â‚¬â„¢ identity to access the fast cash loan on the web.
Brown said that he was Ã¢â‚¬Å“desperateÃ¢â‚¬Â for money when he decided to steal DavisÃ¢â‚¬â„¢ information to take out a faxless payday loan. Fort Worth police have not yet arrested Brown for identity theft in taking out the fast cash loan, but DavisÃ¢â‚¬â„¢ private investigator claims to have Brown on tape admitting his guilt in taking out the cash advance personal loan, and an affidavit signed by the suspect that states the same.
Davis boasts that LifeLockÃ¢â‚¬â„¢s protections actually did exactly what they should have, for him. Because the service places a fraud alert on the subscriberÃ¢â‚¬â„¢s credit file, all discrepancies Ã¢â‚¬â€œ like DavisÃ¢â‚¬â„¢ fraudulent payday loan Ã¢â‚¬â€œ are quickly picked up on and reported. Davis has said that he will keep his information publicly available on the LifeLock website, as his confidence in the service has not wavered.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.