With fraud on the rise, consultants recommend freezing your youngster’s credit score

InvestigateTV – As fraud numbers proceed to extend, id safety consultants are urging mother and father to freeze their youngster’s credit score to keep away from a lifetime of economic complications.

Based on the Federal Commerce Fee, id fraud incidents elevated round 45% in 2020, with youngsters steadily the goal.

James Lee, the COO for the Identification Theft Useful resource Heart, a nonprofit centered on serving to individuals with id crimes, stated it’s extra essential than ever for folks to contemplate freezing their youngsters’s credit score as a result of in lots of instances a baby’s social safety quantity is extra worthwhile than the dad or mum’s info. 

“As a result of, consider this fashion, it’s clear, it’s by no means been used,” Lee stated. “So, an id thief who obtains a baby’s info can use it for a decade or extra earlier than anyone realizes that there’s one thing mistaken.”

He stated usually the primary time you determine their social safety quantity is compromised is when your youngster applies for faculty.

Lee stated if it’s been happening for many years, this could have lifelong penalties in your youngster and be very troublesome to repair.

To get extra data on the best way to freeze your youngster’s credit score, go to https://www.equifax.com/private/schooling/identity-theft/freezing-your-childs-credit-report-faq/

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