Author Topic: give power of attorney to credit monitoring service?  (Read 1707 times)

Case

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give power of attorney to credit monitoring service?
« on: October 31, 2016, 02:45:59 PM »
I recently had some identity fraud (credit card application placed in my name), and I caught it early due to a credit monitoring service that I have (CSID).  CSID was provided to me by my workplace when their database was compromised last year.

Anyways, I have been following up with CSID and they are able to perform a lot of the legwork in contacting credit agencies/etc... for me.  However, I must sign a PoA in order for them to be able to do this.  The PoA indicates a 1 year term and that it gives CSID the right to act in my name to do anything necessary to rectify the identity fraud. 

Is signing this a bad idea?  Being asked to sign a PoA is one of those things that sets off my spider senses.

MacGyverIt

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Re: give power of attorney to credit monitoring service?
« Reply #1 on: October 31, 2016, 03:20:42 PM »
My credit monitoring service did not request PoA. I'd strongly recommend calling other, well-known services and asking the "do you require PoA" question.

Catbert

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Re: give power of attorney to credit monitoring service?
« Reply #2 on: October 31, 2016, 03:52:21 PM »
I'm guessing that you work for the Federal government.  As these those are the guys who compromised by identity (twice) and give me CSID monitoring.

Since someone has tried to get a cc in your name, you're going to have to give CSID a PoA unless you want to take the steps yourself.  Credit agencies aren't going to work with CSID on your behalf unless they have a PoA.  Yes, if I get in that situation it would make me a bit uncomfortable, however, I'd end up doing it.

Case

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Re: give power of attorney to credit monitoring service?
« Reply #3 on: November 01, 2016, 05:50:06 AM »
My credit monitoring service did not request PoA. I'd strongly recommend calling other, well-known services and asking the "do you require PoA" question.

But did they perform any actions in your name in interacting with the credit bureaus?

BlueHouse

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Re: give power of attorney to credit monitoring service?
« Reply #4 on: November 01, 2016, 06:01:03 AM »
The PoA is very limited in scope, right?  As in only able to speak to your credit agencies etc?   You're not giving them access to bank accounts or to your medical directives or will or tangible assets.

I gave PoA to my payroll company every time one of the tax agencies messes up my records.  This gives my payroll company the ability to act on my behalf with the city and get it sorted without me having to worry about it.

The first time I had to do this, I crossed out a bunch of stuff on the agreement and limited their form to only one taxe agency. They didn't care that I modified their standard form. They had what they needed and I felt like I limited their scope to just what they needed.

I would do it but modify their form to limit scope and time if you feel their standard form is too broad.

Case

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Re: give power of attorney to credit monitoring service?
« Reply #5 on: November 01, 2016, 06:03:57 AM »
The PoA is very limited in scope, right?  As in only able to speak to your credit agencies etc?   You're not giving them access to bank accounts or to your medical directives or will or tangible assets.

I gave PoA to my payroll company every time one of the tax agencies messes up my records.  This gives my payroll company the ability to act on my behalf with the city and get it sorted without me having to worry about it.

The first time I had to do this, I crossed out a bunch of stuff on the agreement and limited their form to only one taxe agency. They didn't care that I modified their standard form. They had what they needed and I felt like I limited their scope to just what they needed.

I would do it but modify their form to limit scope and time if you feel their standard form is too broad.

Thank you for this suggestion, I will take this.