I’ve heard of this and known a few people who claim their parents did it, some kind of scam where because the parents have bad credit they use their child’s social security number instead so no one will see their bad credit.
Here is the part I don’t get, how does this help and why does it work?
Until very recently I had no credit history and NOT ONE business would even touch me, it was far worse than having bad credit. No bank would let me have even a savings account with no credit extended, and yes they check credit even for savings only accounts. It would get to the credit check and then they would get null response and that was it, I think one person said this was due to laws that they must verify the SS# is real and the only way is a credit report.
Cell phone companies wouldn’t deal with me, renting property, utilities, I even had to use someone elses SS# for prepaid visa cards and one prepaid phone company.
So how does the scam work?
EDIT:Before someone comments I used it with their permission