With Bankruptcy Rising Beacon Management Services Teaches How To Protect Against Fraud
SAN DIEGO, CA, February 26, 2020 /24-7PressRelease/ — Beacon Management Services recently shared information about how many people in America are relying on credit monitoring services to protect themselves against the threat of identity theft. The service delivers notifications whenever there is an activity linked to an individual’s credit files.
The notifications provide a viable way for consumers to determine whether the reported activity is legitimate or unauthorized. Statistics show that almost 15 million American consumers fell victim to identity theft in 2017.
Companies like Beacon Management Services monitor credit files, which contain critical information collected by a credit reporting agency about an individual. The information includes credit history and identification details like the social security number.
The information entered in the credit file can change over time and credit monitoring firms allow individuals to stay well-informed about these changes. Some of the events that trigger a notification include changes to the address, credit inquiries by lenders, new account openings, and unpaid accounts sent to debt collectors.
Receiving notifications makes it easier to check whether these events are legitimate or linked to fraudulent activities. Credit monitoring services can also inform clients if a file records high credit card balances and missed payments. These activities have a direct impact on credit scores. Instances of identity theft can negatively affect the victim’s finances.
Benefits of using credit monitoring companies
Agencies like Beacon Management Services help many Americans protect their identification and financial information from fraudsters. The service providers also help maintain a good credit record by ensuring that the user’s credit history is not affected by the activities of unauthorized individuals.
The most important advantage of constant monitoring is the ability to detect any instances of identity theft and fraud. Fraudsters usually abuse the identity of their victim by opening new accounts and taking out loans. Fortunately, credit monitoring service providers report these events to help clients detect unauthorized activities.
The reports also enable individuals to identify any inaccuracies. In some cases, the information entered by credit reporting agencies and creditors can have errors. Event notifications make it easier to take corrective action to address any errors that may affect credit records.
Unlike DIY credit monitoring, professional services eliminate the need for spending time checking individual reports in person. Beacon Management Services can monitor activities with the three leading credit reporting agencies: Equifax, Experian, and TransUnion.
Maximizing the advantages of credit monitoring
To get the best results, you need to customize credit monitoring notifications. Doing so helps eliminate the possibility of receiving updates that you may not need. Customization ensures that you receive specific information. Also, familiarize yourself with the service after signing up.
The approach allows you to understand how the service provider delivers the information. With detailed information about updates, you can make informed decisions, thus avoid becoming complacent.
When it comes to evaluating the notifications, you should always act on any suspicious events. In such cases, inform both credit reporting agencies and creditors about the anomaly. In doing so, you enhance the chances of a positive outcome. Credit monitoring firms can also provide useful advice about taking corrective action in the event of suspicious activity.
Beacon Management Services
Beacon offers credit rehabilitation and monitoring services designed to help stay in control of your finances. The company provides access to a 24/7 monitoring service that allows you to detect changes to your report. By enlisting for the service, you can take advantage of personalized information and expert advice.
You can eliminate the need to worry about spending considerable time trying to monitor your records in person.
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