Identity theft is the crime that keeps on giving. Years after victims' identities have been compromised they can still be managing the effects of a ruined credit history, which can cost them bank mortgages or jobs. Victims can even face jail time for crimes committed in their name by doppelgangers.

An Arizona company called LifeLock promises to relieve those headaches by helping victims halt theft before it happens and clean up the mess after it does. The company charges $10 a month for its services and offers an unusual guarantee – a $1 million reimbursement for any damages or losses its subscribers incur from identity theft.

"If your identity is compromised for any reason while you're our client, we will fix the problem, period," said CEO Todd Davis. "If you lose money, we'll reimburse you. If you get thrown in jail, we'll bail you out of jail. If I have to hire a lawyer (for you), I will."

Davis says the company hasn't had to make good on its $1-million guarantee yet because it has been successful at halting identity theft losses of subscribers before they occur.

The company places 90-day fraud alerts with credit-reporting agencies on the subscriber's behalf, and automatically renews the alerts before they expire. Subscribers receive copies of their credit reports four times a year to review for inaccuracies and fraudulent activity. Credit alerts typically end after three months, but can last seven years for consumers who can prove that they're already victims of identity theft.

If LifeLock subscribers face difficulty in obtaining credit because of the alert on their file, the company will contact a landlord or credit issuer on the subscriber's behalf to clear up concerns about the alert.

LifeLock also monitors check systems to ensure thieves don't open new bank accounts in a subscriber's name, and it removes subscribers' names from mailing lists for pre-approved credit applications.

The company launched early last year and has about 60,000 subscribers, according to Davis. It lists a former vice chairman of Bank of America and a former chief technology officer of Visa International among its board members.

Beth Givens, director of the Privacy Rights Clearinghouse, said individuals can do most of what LifeLock offers on their own at no cost. And LifeLock's money guarantee is a bit of false bravado because federal law protects victims of fraud from paying for financial losses incurred by impostors, she added.

But she acknowledged LifeLock's services are unique in that the company will help victims obtain restitution after fraud occurs.

"What they offer is convenience," Givens said. "You can do the fraud alerts yourself, but the 90-day renewal is certainly a feature that people will probably appreciate."

She also said other companies provide real-time credit-monitoring services for $60 to $120 a year that will send an e-mail or text message alert to you within 48 hours after activity occurs on your account. This can be more effective than waiting for a quarterly statement to review activity or relying on a creditor to adhere to an alert and contact you before granting credit to someone in your name.

"Studies show the sooner you detect identity theft the quicker you'll recover and the less damage you'll suffer," Givens said.