Identity theft is getting a lot of press these days but one of the fastest growing demographics of victims is hardly ever mentioned - children. Children are even more vulnerable because they receive a social security number but few families ever check their kids' credit reports. They just assume there's nothing to monitor. Problems can show up years later, however, when the child is grown up and applies for a credit card or a car loan. The problems show up and the application is declined. And at this point, the work necessary to clear the credit fraud is difficult.
How Childrens' Identities Are Stolen
Children generally get issued social security numbers at a young age because their parents need it for health insurance or tax reasons. The government is busy making rules to keep adults protected from identity theft, but unfortunately their social security number is still one of the most commonly used identification methods for children, at places such as doctors offices and schools.
Since most parents rarely, if ever, think of checking their child's credit report, it's easy to miss problems that crop up due to identity fraud. And to make the problem worse, the websites that are set up to provide a free annual credit report won't allow you to check your children's information. To do so, you need to send a written letter in the mail.
How Child Identity Theft Usually Plays Out
It's usually several years before the problem appears, often not until the child has reached adulthood and starts applying for a loan or credit cards. And there are a couple of things that can make the problem even worse than the average identity theft. First, because these accounts were opened as new ones, and not existing ones that were taken over by fraudsters, it can be a lot more difficult to clear them from your record. Second, by the time these issues come to light the debts are long overdue and have been in collections for a number of years.
Protect Your Child From Identity Theft
The best protection for your children from identity theft is to check their credit report every year. It's also wise to stop giving out your child's social security number except when you absolutely have to. The IRS and sometimes your doctor have the right to know it, but nobody else has to. And never carry your kids' social security cards with you. Memorize the number and lock the cards away at home or in a safety depost box.
Did you know identity theft can happen through your computer? If you're not running the right kind of pc security, your personal data can be stolen. Find out how to protect yourself at the Security Manor website.
