Taxpayers are getting emails from Experian, advising them that their "Protect My ID" credit monitoring is going to expire next month and offering them a chance to renew for less than $12 a year. But the South Carolina Department of Revenue is advising you to wait before renewing.
That's because the state is the process of awarding a new contract for credit monitoring and ID theft protection that won't cost you any money.
"I encourage people to wait," says Bill Blume, director of the South Carolina Department of Revenue. "I think they're going to find out that there is a more robust credit and identity theft contract entered into."
Renewing with Experian will cost you 99 cents a month, or $11.88 for the year, for individual coverage. But signing up your entire family would cost $240.
Details of the new contract should be known by the middle of next week, Blume says. The new coverage will be in place before current coverage expires, the earliest of which will be October 24th. The state paid Experian $10 million to provide one year of credit monitoring, at no direct cost to taxpayers, and that one year extends from the time taxpayers signed up.
The credit monitoring was in response to an international hacker who got into the computer system at the state Department of Revenue and stole the personal information of 6.4 million individuals and businesses. The DOR says there have been no confirmed cases of identity theft or credit theft as a result of the breach, but experts have warned that hackers can hold onto stolen personal information for years before using it.
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