Experian v. LifeLock - why do people fall for ID theft insurance scams?
A reader alerted me to this case, thanks! I had no idea who or what LifeLock is until I read about the guy who puts his entire social security number in the ads. I remember seeing that ad, some print ad a while ago. As I threw it in the trash, I wondered how many suckers fall for this BS. Obviously, many.
I just posted the Experian complaint and I’ll try to update at the new forum occasionally. Can’t wait to see what happens.
I quickly scanned through the complaint and it made me wonder whether I can’t sue the credit bureaus EVERY time they don’t correct after a client’s factual dispute.
Very few of my clients have the time and nerve to file a lawsuit. If they paid me about $400 for filing, service, mailing, etc., I could just file lawsuit after lawsuit instead of wasting my time on 2nd and 3rd disputes that go nowhere. After some practice, it probably wouldn’t take me more than a couple hours to write the complaint and get the waiver out.
Compare that to 5 to 10 hours for each new round of disputes and the associated frustration.
Experian v. LifeLock: Fraud Is In The Eye Of The Beholder
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LifeLock was founded in 2005 and is headquartered in Tempe, Ariz. The company is well-known for its Chief Executive Todd Davis flashing his actual Social Security card in commercials. The eye-twinkling pitch and promise to protect consumers has led to self-reported “astounding growth.” (See “Prevent Identity Theft")
On Jan. 23, the privately owned LifeLock said it received $25 million in funding from investors led by Goldman Sachs and including Kleiner Perkins Caufield & Byers and Bessemer Venture Partners. At the time, analyst Gene Yoon of Goldman said, “This investment underscores our belief in LifeLock’s market position and value proposition in protecting consumers from a highly pervasive problem.”
I hope they’ll ALL go out of business! Scum, everywhere I look.
Don’t know whether it’s true, but I read somewhere that Chief Executive Todd Davis allegedly stole his father’s ID.
Why are people so incredibly stupid and give ALL their info to these outfits?
I would NOT want a fraud alert on my credit and I’m actually suing for a fraudulent fraud alert, preventing me from getting the myFICO reports.
I don’t care much whether somebody uses my credit card (so what! I’m not liable and the banks couldn’t care less), but I sure wouldn’t give ALL my info to these scammers.
The employees who call the CRAs to put fraud alerts on your credit have ALL your info!
They’re taking these crummy jobs because they NEED money! $5-10K a few times a year isn’t bad and nobody will ever notice.
Posted by Christine on 03/19/2008 at 11:31 PM
Legal • 2008 Experian v. LifeLock • (0) Comments • Permalink
