Identity Theft ? Guard Your Childrens Social Security Numbers

Identity theft is a growing concern among Americans, and rates among the top five complaints received by states' Attorney General's offices. A stolen identity can lead to tens of thousands of dollars worth of debt in the victim's name and it can take years to completely undo the damage done to the victim's credit report. Identity thieves can successfully commit crime with as little as a driver's license number or credit card number, but the ideal target of such criminals is the Social Security number. With that number in hand, the identity thief can pass themselves off as the victim and open credit card accounts, bank accounts, and even obtain home equity loans. As more Americans become aware of the problems posed by identity theft, consumers are doing more to protect themselves. This has inspired thieves to look to a new source of identities to steal, and they have found one. They are now stealing the identities of children.

Established in the 1930's the Social Security Administration was set up to provide benefits for retired Americans. Taxes are withdrawn from the paychecks of eligible workers, and each worker is issued a Social Security number in order to keep track of his or her benefits. Over the years, and despite the intentions of those who created the system, the Social Security number has become a de facto national identity number. It is difficult, if not impossible, to engage in most financial transactions without providing that number to the other party in the transaction. In fact, the number itself has become as important as the name of the person who holds it. Over the years, criminals have discovered that by obtaining the Social Security number of someone else, all kinds of illegal activities are possible, including obtaining loans in the names of the owner's of the stolen numbers.

With more people now aware of the potential of identity theft, consumers are more carefully protecting their personal information. As a result, thieves are now targeting the Social Security numbers of children. A law passed in 1989 requires parents of newborn infants to register for a Social Security number for their child. That child will probably not need that number until he or she is a teenager, when the number might be necessary to obtain a driver's license, open a bank account, or get a job. In the meantime, the number is not only unused, but the theft of it may go unnoticed. Thieves who obtain a Social Security number of a child know that they can probably use it for a decade without being caught. How can you protect your child from identity theft? Treat your child's personal information as if it were your own, and guard it carefully. Don't give out the Social Security number of your child unless it is absolutely necessary, and if you aren't sure if it's necessary, ask. Some doctors and hospitals, for instance, request the number as a matter of course, but they may not actually need it.

Check to see if your child has a credit report. You can obtain one for free at the free credit report Website. Your child, if not working, shouldn't have a credit report, so if the credit bureaus have one on file, you may have a problem. A child's personal information is as useful to an identity thief as that of an adult. Guard yours and your children's identification carefully.

©Copyright 2005 by Retro Marketing.

Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to personal bankruptcy, debt consolidation and credit counseling, and HomeEquityHelp.com, a site devoted to information regarding mortgages and home equity loans.

---

Good vs. Bad Credit Debt

Do you know the difference between good and bad credit... Read More

Establishing Credit ? What You Need To Know Part 2

In my previous article "Establishing Credit ? What You Need... Read More

3 Free Credit Reports For You

If you were to tell someone that they can have... Read More

All You Wanted to Know of Bad Credit

Martin Henderson is in a fix these days. Because of... Read More

Ethical Finance: Who Benefits From Our Spending?

On one hand consumers are being universally criticised for running... Read More

Credit Repair: How To Deal With Your Creditors

If you are in danger of credit problems because you... Read More

3 Ways to Improve Your Credit Score by 50 Points In Less Than 30 Days

In Less Than 30 Days. "What can you do to... Read More

Special Credit Information for Married Couples

If you are married, establish separate credit accounts.Try to finance... Read More

Minimum Credit Card Payments to Rise

For years, major credit card companies have allowed cardholders to... Read More

How To Eliminate Credit Card Debt

There is almost nothing more troublesome than having too much... Read More

Secured Credit Cards- Consumer Tips

Whether you have no credit or damaged credit, secured credit... Read More

The Truth About Credit

What you might not know about credit.Some people don't know... Read More

Fair Credit Reporting Act: What You Should Know About It?

The Federal Fair Credit Reporting Act (FCRA) is designated to... Read More

Credit Scores and Loan Applications

Keep Your Credit History Clean - Remove A Negative Credit... Read More

Identity Theft - Dont Think You Are Immune

As identity theft becomes more prevalent, the need to regularly... Read More

Credit and Loan Help for Mortgage Loans

Mortgage loans are some of the most difficult loans to... Read More

Credit Cards: How To Use Them

Credit cards can be a very quick way of getting... Read More

Beware of Bogus Credit Repair Companies!

So-called "credit repair" companies claim they can remove negative information... Read More

Credit Counseling Basics

Credit counseling is an option you might want to consider... Read More

UPS Delivers the Goods, Your Identity

Well now we add CitiGroup and UPS to the Identity... Read More

Credit Report ? Watch Out for Parking Tickets

The economic downturn of the last five years has affected... Read More

Credit Card Entrapment - The Secrets are Out

Have you ever wondered why your credit card bill is... Read More

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards

Secured Credit Card is similar to a prepaid credit card... Read More

Five Debt Negotiation Facts

These five debt negotiation facts along with a few debt... Read More

Credit Repair, How To

Credit repair, is in a word, vital to reestablishing your... Read More

Free Credit Reports: From The 3 Major Credit Bureaus!

Get your credit report online for FREE. Many financial advisors... Read More

Credit Cards - A Blessing or a Curse?

Owning a credit card can be quite an advantage. Whether... Read More

Bad Credit? No Credit? Yeah, Its a Problem.

Many companies use the slogan "Bad Credit? No Credit? No... Read More

5 Ways To Prevent Credit Card Late Fees

Paying a credit card late fee is the same as... Read More

Shoppers Beware - Tis The Season

It's the number one complaint from consumers and it only... Read More

Your Credit Score

Credit scores: all lenders use credit scores to determine interest... Read More

How You Can Help Prevent Identity Theft

How can I prevent Identity theft from happening to me?... Read More

Balance Transfers Introduction

Credit card balance transfer involves using a credit... Read More