Parents Steal Child’s Identity
Holy flirting snit. I’m having a hard time believing that this advice column letter in the Los Angeles Times is real. Writing to Money Talk editor Liz Pulliam Weston, a concerned reader wants to know what to do about her credit rating, which was shot to hell after her parents opened up a credit card in her name and maxed it out. Needless to say, they didn’t pay a dime on it, and the bank closed the account - a huge black mark on a credit report, and a damaging blow to the child’s FICO score. Fortunately, Liz Pulliam Weston, unlike certain other advice columnists, isn’t afraid to pull punches. “On a $200,000 loan, you’d be paying nearly 50% more each month because of your parents’ fraud. And let’s not mince words, because that’s exactly what this is. They may believe they had the best intentions in the world — that they would somehow pay the money back and you’d never be affected — but the fact remains that honest people don’t take out credit cards in other people’s names.”
Damn, mom and dad. You got served. Be grateful that you also didn’t get served time in the county jail.
Tags: California, credit+card, fico, fraud, los+angeles, money, parentsRelated Stories
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3 opinions for Parents Steal Child’s Identity
Philip
Sep 18, 2005 at 9:26 am
Hey Jay, how do we submit stories to you? Is there a link I’m missing? Sorry to muck up your pristine comment section.
Angel
Sep 18, 2005 at 1:16 pm
I hear about things like this now and then….only it’s also happening to babies and young children who won’t find out until much later in life : /
kevin
Sep 20, 2005 at 2:31 pm
yea, my mother did something like that to my sister (i was too old by the time they started sending out credit cards to everyone and their unborn cousins)