Jennifer is 19 years old, a recent high school graduate, and was looking forward to starting college. She wants to become a teacher. The trouble is, Jennifer can’t get the needed student loan. When she applied, she was told she’s too deep in debt, and that she’s a poor credit risk.
Jennifer’s never had a credit card. She’s never even used one.
Jennifer is like many young people all over the country who, once they’re old enough to begin applying for and building their credit, discover that their parents have stolen their identities and racked up thousands of dollars in bills – bills that creditors will now try and hold them responsible for.
As a result, Jennifer can’t get a credit card. She could be rejected for a job. She may not be able to rent an apartment or purchase a car. And she can’t get the student loan she so desperately needs to study to become a teacher.
There are no hard numbers on this type of identity theft, but the numbers are likely higher than you might think. Some experts say the number is growing. A Federal Trade Commission report found that about 6 percent of all identity theft victims point the finger at a family member or relative as the guilty party.
Nationally, the number of people under 19 years old who are identity theft victims is about 20,000 annually, according to the FTC, although theft experts say it’s probably 10 or 20 times higher. That’s because this type of theft often goes on for years before it’s discovered.
How can you protect your child from identity theft? First, be suspicious if pre-approved credit card offers come in the mail in your child’s name. If you receive a credit card or a statement for a credit card in your child’s name, call the company and ask for a copy of the original application.
You can dispute the debt. Credit reporting agencies are obligated to verify the dispute with a creditor. Be sure to obtain and carefully review your child’s credit report. If you find there is fraudulent activity, contact the creditors and notify them. File a police report; credit bureaus won’t accept it as identity theft without one.
And sign up for LifeLock’s protective services. LifeLock’s Identity Alert™ System will notify you immediately if your child’s information is being used to apply for credit or services.
Don’t let your child face what Jennifer is facing…call LifeLock today.
Tags: Identity Theft, identity theft, LifeLock
