The Internet has opened a floodgate of innovative channels of identity theft. While online identity theft continues to rise, according to the Javelin Strategy & Research Institute, lost or stolen wallets still make up 42 percent of identity theft crimes. Regardless of how the crime is done, increased identity theft has created a growing market for credit repair and protection technologies.
Halo Credit Solutions LLC is a full-service credit repair company and subsidiary of Halo Companies Inc. (GPAX.OB) focused on identity protection. The company today announced it will add HaloSafe ID to its portfolio of services, scheduled to roll-out in before the second quarter.
HaloSafe ID is an identity theft product backed by insurance and fraud alert that is offered as a side product for Halo Credit’s bundled packages. It also offers monitoring, document preparation, financial coaching and legal consulting.
When a loss or theft occurs, HaloSafe ID customers make a single call to the company, which spurs immediate calls on the consumer’s behalf to every relevant creditor. This ensures timely and effective cancellation of credit cards and red flags for abnormal activity. If needed, a fraud alert is placed with credit reporting agencies.
“HaloSafe ID is such a great additional asset for the Halo Benefits package. I am enthused about the many lives we will be able to reach and protect through the inclusion of this product,” Kelly Harper, program director of Halo Benefits Inc. stated in the press release.
HaloSafe ID is initially included with Halo Credit’s credit repair product free-of-charge for the first 90 days. After that, consumers have the option to continue the service for a small monthly fee. The company noted the importance of credit protection and that identity theft is a daily concern.
“A great deal of consumers’ credit scores are affected by identity theft issues every day. The addition of this feature to our product package adds a preventative layer to our existing credit repair process,” Michael Barry, president of Halo Credit stated.