Can an 18 year old stop their parents from destroying their credit?

I teach school. I have two different students who have reason to be seriously concerned that when they turn 18 ina few months their parents wills use their name/social security numbers to borrow as much money as they can.

Since there are no good options after the fact–and these kids love their parents, even as they acknowledge certain moral . . .inadequacies–is there any way to prevent this?

These are the sort of things they don’t teach you in teacher school!

Have you discussed it with the Principal? What do they say?

Just on the face of it it’s doesn’t sound like there is anything concrete you can do at this point other than advise the kids to keep an eye on things, and show them how they can check their credit history from time to time. Sticking your nose into this incipient family dispute beehive at this stage of the game before anything has happened sounds like a Very Bad Idea on multiple levels. This isn’t your gig. Show the kids how to check their credit and give them contact numbers for the Police Dept if fraud occurs.

Other than that you need to stay well out of it.

I don’t really see this as “sticking my nose” into anything–more like passing on a general question for a friend, something that’s often done here. And I am curious about the answer myself–is there anyway to protect yourself from crdit fraud if your SS# has be compromised? Because that is basically the problem.

Jurisdiction?

There’s some information on this page. Looks a bit grim.

If the parents have not seen or recorded the number, and the card has not been delivered, I would have to wonder if it is possible to call up the SS office and see about changing the delivery address to a friends house, buying a safe, and when it is delivered to the friend, you bring it straight back and lock it up. I have no idea if that is possible or viable.

That would be identity theft, plain and simple. The fact that it is their parents complicates things emotionally, but legally? Probably not.

So the question is–how does one protect themself against identity theft, when:
a. They know who the potential theif is
b. They know the theif has the means to commit the theft.

It’s like the difference between taking general precautions against burgulars (locking the doors, using an alarm system) and taking specific precautions against a specific burgular who you believe will be targeting you.

They can put a notice on their credit report. The financial companies will then verify identities before issuing credit. The 18 year olds won’t be getting credit in less than a couple weeks after that. It’s something that can ruin the kids life, so it’s not a case of say nothing.

I agree, have him put an initial fraud alert on his report. Experian lets you do it online for free, and will give you a copy of your report to boot. https://www.experian.com/consumer/cac/FCRegistration.do?alertType=INITIAL_ALERT However, if he doesn’t have credit in his name yet, he might not have a report to block. In that case he might need to call in the request. If he’s got his own cell phone, he can leave that number so that any creditors call him before issuing credit.

I had something like this happen to me, in addition to a bit of outright theft by one shiftless parent. It took several years to get this totally cleaned off of credit reports, and a few years ago, when my grandmother died, I found that a couple of other shifty deals that had used my status as a minor for tax protection, so I had to clean that mess up.

In retrospect, it would have been for the best if I’d gone through with that legal emancipation at 15, but I got talked/forced out of it. I don’t know what advice I’d offer them other than don’t sign anything! A couple years down the road when you are being denied student loads 'cause of a $50k default under your name, you’ll regret it.

Stranger

Initial alerts last 90 days in most cases.

That is a good start. Of course, the students should not sign anything and, as adults @18, can call and cancel anything they are aware of.

If there is suspicion or proof of theft or attempt to steal their i.d, the student can file a police report (even a basic one and secure a copy) and fill out the required fraud report from the national credit reporting agencies, then they are eligible for a more secure, longer lasting alert that has more oomph.

Also opt out of any “pre-approved” offers so if someone intercepts their mail they don’t get the applications.

This may be the piece of information that the students don’t pass on to their parents. If they want to preserve peace, they could try something like this:

“Oh, mom, you are not gonna believe this. That asshole Mika is working in the front office, and that means he has access to my file. My social security is in there, and Mika totally ripped off my friend Alisha when they were dating. The guidance counselor told me if I was worried, I could put a report on my credit rating, though, so I did that, and now if Mika or anyone tries to use my social security number to get a credit card or anything, he is SO going to jail. I have to show two forms of ID if I ever want to get credit, but it’s totally worth it.”

Also, according to this page (surfed to from Sage’s earlier link), they advise to “Ask [the credit bureaus] to include messages on your credit report indicating that no new credit should be granted without your personal approval.” This makes it sound as if you can get this particular note put on, maybe instead of a message about actual fraud.

Daniel

This, of course, is going to be difficult if the kid still lives at home. What number will the credit bureau call? Where will they send letters? Those calls and letters easily can be intercepted, particularly if the kid has helpfully warned the 'rents that the credit bureau must contact him before issuing credit.

Why not send them to a friend’s house? Alternately, why not request specifically that a note be included in the credit report: “Creditor fears family misuse of credit. Issue no credit at all for 180 days.”

Daniel

this is becoming quite a problem these days, esp. when you have to have a s.s. number to claim a child on taxes. the kid doesn’t have to be 18 for there credit to be destroyed. some are destroyed before the kid is one.

most kids don’t find out until they are 18. then there is quite a bit of trouble clearing it.