Are You Harming Your Child’s Future?
Casey headed to her mailbox with anxiety written all over her face. As she opened her mailbox she pulled out a huge stack of bills. She thought to herself, more bills and more bills, how in the world am I going to pay all of these bills? Casey knew that her mortgage payment, electric bill, car payment, water bill, property taxes and five credit card bills were all past due and delinquent. She had previously borrowed money from all her credit cards to pay her bills but, her credit cards were maxed out and she did not know what she was going to do. Casey also knew that she could not borrow money from her family and friends because either they did not have monies to loan her or she had already received money she never paid back to them. Casey believed that she needed to figure out how she was going to get the money to pay her bills, so she pondered about what she was going to do.
As Casey sat in her den at her computer thinking about her dilemma she came across a retail website advertising a fifty percent off sale on her favorite designer shoes while she was on the internet. She thought to herself that there would never be another sale on her favorite designer shoes and she really wanted to purchase the shoes while they were on sale. Casey thought to herself, how can I buy my favorite designer shoes although all of my credit cards are maxed out? She then came up with an idea that she thought may solve her problem. She decided that she would use her son Michael’s personal information to apply for a credit card in his name. She thought that since she had her son’s social security number and all of his personal information it would be a great idea for her to get a credit card in his name. So, Casey moved forward with her idea and applied for a retail credit card in her son’s name to purchase her favorite designer shoes that were on sale. She also added a designer dress and handbag to her purchase that day because she wanted her shoes to match these items. Casey was so excited that she was able to get approved for this retail credit card in her son’s name with such ease, that she decided to obtain additional credit cards. She grew even bolder with applying for more credit cards in her son’s name by obtaining a total of eight additional credit cards over a ten month period. She thought it was okay for her to get these credit cards in her son’s name because she planned to pay the cards off in a few months and it was her son’s duty to help her. However, Casey was never able to pay on the credit cards she had obtained in her child’s name. Michael’s credit was ruined by his mother and he was only ten years old.
Casey really did not see that her actions were not only harming her child’s future, but, that her actions were illegal because in reality she had committed identity theft and financial fraud against her own child.
So, if you are a parent that may be anticipating using your child’s identity to get credit, opening bank accounts, etc… in your child’s name please STOP don’t do this to your child! Think about your child’s future, it’s very important you put your child’s future first and foremost. Your child should have every opportunity that is available to them for their future without any obstacles and hindrances from you. Remember as a parent you are the protector of your child and your child is depending on you to do this. After all you were a child yourself and you looked forward to having a future that you could blossom and shine.
Keep in mind the downside you may face as a parent committing identity theft and financial fraud against your minor child or adult child may be the following:
1) A possible felony or misdemeanor conviction based on the severity of the identity theft and financial fraud offense committed.
2) Federal or state prison time or possibly both based on the severity of the identity theft and financial fraud offense committed.
3) Fines may be imposed.
4) Restitution may be ordered as payment to the victim of the crime in addition to prospective fines imposed.
5) Possible long term or permanent separation from your child voluntarily or involuntarily.
It is noted that children or adults affected by identity theft and financial fraud caused by their parent may be faced with the following problems:
1) Emotional distress, feelings of resentment, sadness, distrust, being violated and betrayed.
2) The discovery of several credit cards, loans, bank accounts, etc… previously taken out in their name using their personal information when they attempt to apply for a loan in their own name. It is noted they are denied credit due to their bad credit created by the parent.
3) The young adult tries to apply for a driver’s license and is denied because their social security number was used previously to secure a drivers license using their name. The young adult discovers that the driver’s license issued in their name has numerous traffic violations that are unpaid and a warrant has been issued for their arrest.
4) Several collection agencies are sending collection letters and calling the minor child or adult about delinquent unpaid bills for accounts opened by their parent.
5) Your credit report and FICO score are run and you discover that there are prior credit accounts opened in your name and your credit is now tarnished.
6) You’re trying to decide whether or not you should contact law enforcement to file a police report due to your parent committing identity theft and financial fraud against you the victim.
7) The feeling of being isolated from your family members if you report the crime of identity theft and financial fraud to the police although you are the victim of this crime that has been committed against you.
This list for children or adults affected by identity theft and financial fraud caused by their parent goes on an on for many victims. So, the question is; Are You Harming Your Child’s Future? If your answer is yes to this question then do the right thing and take responsibility and accountability as part of the first step to fixing this major problem you have created for your child now! Second, apologize to your child for what you have done and explain why you created this problem for them. Do not try to justify your crime of identity theft and financial fraud as being okay because it is not, no matter how you want to perceive this situation.
Keep in mind it can take years for your child to clean up their credit from this major problem you have created for them. Do you really want to hurt your child this way? Don’t you want your child to have a better future? Doesn’t your child deserve all the opportunities that may be available to him or her?