[mcshicks]

I can't agree with this more. I was the victim of identity theft many years ago. I my case the data leaked from an employee at my company's payroll dept! There was nothing I could have done to prevent it. Anyway I did this many years ago and have not worried about it since. There is some small hassle because people run credit checks for weird reasons that have nothing to do with trying to get a loan or line of credit. For instance when I got promoted to a certain level at my last company they ran one, and while they didn't run them when I got hired, I think later they started doing them as part of "background checks" for all new hires. The other hassle is sometimes the credit agencies change the way you "unfreeze" and I've had some problems with that, or the people running the check don't actually know which of the three credit agencies they are using. However for the once every four or five years hassle it is definitely worth the piece of mind for me. In many cases you can "temporarily" revoke it for a week or 10 days.

[__jal]

I'd phrase this more as, "I was impersonated by someone, and a third-party compounded the problem by lying about it to others. Now, to avoid that problem, I pay protection money to that third-party and waste my time jumping through their hoops."

I do the same thing, BTW, because the alternative is worse. But it is a protection racket offered by the very people causing the problem.

[mcshicks]

I think that pretty much is exactly how I felt about it at the time. One thing I haven't seen mentioned is the fact that this "remedy" was actually a requirement imposed (at least in California) on the credit agencies by the government, and it wasn't always that way. So for several years instead of this, I would have to actually go check (all three) credit agencies getting my "free" report (since I was an identity theft victim). Of course I still had to ask for it, they didn't just send it to me. So yes it was the least bad alternative. If a large enough people actually signed up for this it would actually destroy the credit agencies business model, because instead of working by default, they would be broken often enough that people would do other, more reliable solutions. I think they may already be happening in some cases. For instance when my son moved into his first apartment, I had to put my name on the lease. I told them my credit was locked and they said they don't use the credit agencies, they had some other check they did. So yeah, no love for credit reporting agencies from me..