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Get Your Free Credit Report and Save Yourself from Identity Theft

By admin
Published: Sunday, January 4th, 2015

Just so we can be sure that things are in order, when did you have your most recent credit report? You must know by now that having a personal copy at least three times a year is the best decision you could possibly make.

As we walk into 2015, it seems like there has been a significant rise in the number of identity theft issues through 2014. In fact, anyone can become a victim of stolen identity – even children! Jim Donovan, the journalist who wrote the “3 On Your Side Consumer” report shared extremely important information about how you can protect your identity and that of your family members’.

Not too long ago, Neala Elsworth faced a shocking scenario when her child needed insurance and her health care provided denied her the privilege. She made a statement saying they told her that three out of her four children had other insurance claims. This was ridiculous because she never applied for any other insurance.

She later discovered that someone had stolen the Social Security numbers of all three kids, and was exploring its benefits in another state.

According to Kenneth Abe from the Federal Trade Commission, a report suggests that child identity theft was fifty times more frequent than adult identity theft. The reason is most likely that it is much easier to slip by unnoticed in the case of children.

It is highly likely that one in ten children have at some point, had someone else use their Social Security number. Sadly, this is something parents hardly ever discover, and those that do discover it, it is often when the child applies for a credit card, when the IRS sends a letter, when they receive a collection notice, or in the worst case, when the child applies for a student loan and finds out there is a problem.

So what is the solution to this problem?

Parents must make it a routine to check if their child or children have a credit report, and must do so every three to four times a year. When the child turns sixteen, it is even more important. This will allow parents to clean up any compromised credit before the child turns eighteen. Ideally, a child should have no credit report until he or she is above eighteen.

Lastly, here is an important piece of information for parents. To apply for your child’s credit report, you need to provide documents that prove that you are his or her legal guardian. Only then will the Annual Credit Report Company provide the report.

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