Avoid Identity Theft
By Rick Hazeltine
Staff Editorial Writer
Many adults are concerned about how to avoid identity theft. After all, they want to protect their family and all they have worked to achieve. But few realize that the most vulnerable to identity theft are their children.
Children are especially targeted because it could be 10 or more years before the crime is detected - likely when the child grows up and tries to get a loan or applies for a credit card.
Sometimes the identity thief is a stranger who was able to get your child's Social Security number. But what can make this crime especially troubling for families is when the thief is another family member or friend of the family.
Unfortunately, there are many instances of a young adult applying for a car loan or credit card and being denied because of a long history of credit problems - maybe as long as the person has been alive!
Parents don't consider that they may need to help their children avoid identity theft because they are minors. The problem is that credit companies and credit reporting agencies have no way of verifying an applicant's age. If the application has a good SSN, the age given is assumed to be correct.
But there are ways to help insure that your child to avoid identity theft. Here are some things that all parents should consider:
- Store your child's Social Security Number in a secure location. This should be a location not easily accessible by even relatives and friends.
- Be suspicious if your child is receiving pre-approved credit card offers by mail or online.
- Be wary of allowing your child's SSN to be used for school and extra curricular activities. Many times it is not necessary.
- Check your child's earning statement with the Social Security Administration. Reported income is a strong indication of identity theft.
Another important step to consider so your child can avoid identity theft is to request a credit report from one of the credit bureaus. If there is no credit report in your child's name or SSN, then that is a good sign. If there is a credit report, then immediately place a freeze on your child's credit.
