Everyone has heard of Todd Davis. You know, Todd Davis… the LifeLock guy. He is the one who goes around revealing his real social security number every chance he gets because he is “sure his identity is safe with LifeLock.” Yeah, him. Well recently, Mr. Davis’ company, LifeLock, has been sued again. Yes, again.

This most recent suit alleges that LifeLock falsely advertises it services by claiming that it can protect you… me… us from becoming victims of identity theft. While LifeLock may be helpful in preventing some identity theft, it is a bit presumptive of them to claim that they can protect you… me… us.

Basically, this is what they do:

• Add a fraud alert to your credit report
• Monitor your credit
• And remove your name from preapproved credit card offers and junk mailing lists

Well, I don’t think this is a sure fire way to protect me or my credit. This method only works if a credit report is needed… which is not always the case. I mean seriously folks, Mr. Todd Davis himself has even had his identity stolen… while he was a card carrying member of LifeLock nonetheless.

How can I trust LifeLock with my credit if they can’t keep their own CEO safe from thieves? And really, I never trusted this company from the beginning. I once read a story about their founder, Robert Maynard. He stole his own dad’s identity to get an American Express card. How’s that for a paradox?

The whole premise behind this company sounds suspect to me… a guy goes around blasting his name and social security number on radio and tv guaranteeing he can protect my identity when he can’t protect his own.

But what beats everything is that I can do the same thing that LifeLock does for free… and save myself the $10 monthly membership fee.

• Add a fraud alert to my credit report – I can go to here to place a fraud alert with Equifax. No need to contact TransUnion and Experian, Equifax will do that for me.
• Monitor my credit – Sign up for my free report from all 3 bureaus here. Or if I want to monitor my report more often, I can log onto my WaMu account. They give me my FICO score each month at no cost.
• Remove my name from preapproved credit card offers and junk mailing lists – I can go here to opt out of prescreened offers and here to remove my address from direct mailing lists.

I think LifeLock preys on consumers who are fear-struck by the media hype on identity theft. By looking at the news people may not realize it, but identity theft is actually declining. And is it not because of LifeLock.

LifeLock does nothing fancy. Well, I take that back… they have done something fancy. They hired some good marketing folks, which is evident because we all know their name. But the service they provide… nah, not so special.

They are selling the dream of protection… a protection that even with their million dollar guarantee, they can’t guarantee.

Whew, I guess this one got me a little fired up. It’s not like me to be so sneering. I’d better go and calm myself down. I’m going to bed. Good night, PFA