Child identity theft is something few of us think
about, but it occurs
over 400,000 times a year, according to the Federal Trade
Commission. That means identity thieves are stealing the identities
of children under the age of eighteen and destroying their credit,
before they should even have credit! Imagine discovering
your six-year-old has delinquent credit cards that are now in collection!
This is NOT what you want for your children.
Kids identity theft can
be easily prevented by taking the following steps once your children
have social security numbers:
- Place a freeze on
your children's credit reports to prevent identity thieves from
opening up credit using your child's identity.
- Request your free credit reports once a year to make sure nothing
- If your child receives anything solicitations in the mail for
credit cards or loans, contact the company sending the solicitation
and inform them that the child is under age.
For maximum security and convenience, I recommend using LifeLock,
who will place fraud alerts on your credit reports, request
your credit reports once a year, and do several other things to protect
you from identity theft. They will even help you clean up any problems
that occur while a paying customer, including up to a million dollars
of financial assistance. I use LifeLock personally, and I have found
them to be a good service. I do not have time to keep track of the
various alerts and notices that have to be sent to each of the three
credit reporting agencies on a regular basis, or to remember when
to order my free copies of our credit reports. LifeLock makes it
all very simple for a very reasonable fee.
Click here for more information about LifeLock