Wednesday, July 14, 2010

Parents sometimes steal their kids' identities

Mellody Hobson and Laura Zaccaro reported on ABC “Good Morning America” today “Parents stealing their kids’ identities in alarming trend”, link here. And it seems to be happening to fully grown adult children.

There is no mechanism to check a fraudulent social security number against age (as there is no direct correlation to age). So parents, desperate in a bad economy, have written off bills on their kids’ identities, who may find their credit ruined or get calls from debt collectors for their parents’ bills.

The report recommended calling both the Federal Trade Commission and local police and filing the reports therefrom to credit reporting companies. Adult children victims who don’t contest the bills with the proper procedures could wind up being legally responsible for the parents’ bills. Remember the old times when children were viewed as an “economic asset”.

The report starts with “look how devastating it can be when your own family steals from you.”

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