Consumer Federation of America released a report in March entitled, "To Catch a Thief: Are Identity Theft Services Worth the Cost?" that I found to be an interesting read. Last year, nearly 10 million people became victims of identity fraud, according to a Javelin Strategy & Research annual survey. The number of companies out there marketing identity theft protection has also grown.
There's a common sense aspect to protecting your identity but it's not always possible, which means no matter if you do it yourself or use a identity theft protection program, do your homework. Read what is included and make your decision based on that as opposed to letting the headlines in the media on the most recent identity theft story make you respond.