Identity Theft ? Guard Your Childrens Social Security Numbers

Identity theft is a growing concern among Americans, and rates among the top five complaints received by states' Attorney General's offices. A stolen identity can lead to tens of thousands of dollars worth of debt in the victim's name and it can take years to completely undo the damage done to the victim's credit report. Identity thieves can successfully commit crime with as little as a driver's license number or credit card number, but the ideal target of such criminals is the Social Security number. With that number in hand, the identity thief can pass themselves off as the victim and open credit card accounts, bank accounts, and even obtain home equity loans. As more Americans become aware of the problems posed by identity theft, consumers are doing more to protect themselves. This has inspired thieves to look to a new source of identities to steal, and they have found one. They are now stealing the identities of children.

Established in the 1930's the Social Security Administration was set up to provide benefits for retired Americans. Taxes are withdrawn from the paychecks of eligible workers, and each worker is issued a Social Security number in order to keep track of his or her benefits. Over the years, and despite the intentions of those who created the system, the Social Security number has become a de facto national identity number. It is difficult, if not impossible, to engage in most financial transactions without providing that number to the other party in the transaction. In fact, the number itself has become as important as the name of the person who holds it. Over the years, criminals have discovered that by obtaining the Social Security number of someone else, all kinds of illegal activities are possible, including obtaining loans in the names of the owner's of the stolen numbers.

With more people now aware of the potential of identity theft, consumers are more carefully protecting their personal information. As a result, thieves are now targeting the Social Security numbers of children. A law passed in 1989 requires parents of newborn infants to register for a Social Security number for their child. That child will probably not need that number until he or she is a teenager, when the number might be necessary to obtain a driver's license, open a bank account, or get a job. In the meantime, the number is not only unused, but the theft of it may go unnoticed. Thieves who obtain a Social Security number of a child know that they can probably use it for a decade without being caught. How can you protect your child from identity theft? Treat your child's personal information as if it were your own, and guard it carefully. Don't give out the Social Security number of your child unless it is absolutely necessary, and if you aren't sure if it's necessary, ask. Some doctors and hospitals, for instance, request the number as a matter of course, but they may not actually need it.

Check to see if your child has a credit report. You can obtain one for free at the free credit report Website. Your child, if not working, shouldn't have a credit report, so if the credit bureaus have one on file, you may have a problem. A child's personal information is as useful to an identity thief as that of an adult. Guard yours and your children's identification carefully.

©Copyright 2005 by Retro Marketing.

Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a site devoted to personal bankruptcy, debt consolidation and credit counseling, and HomeEquityHelp.com, a site devoted to information regarding mortgages and home equity loans.

Credit Card Traps: How To Spot Them On The Spot!

They arrive in your mail - a conspicuous looking mail... Read More

Credit cards

If gold medals were awarded for marketing consistency, the credit... Read More

Trying to Land a Job? Poor Credit Scores May Hurt Your Chances

Many employers are now looking at an applicant's credit report... Read More

Learning the Disturbing Facts about Credit Card Debt

When I received my first credit card in the mail... Read More

Credit Cards: What is the Universal Default Clause?

Most people who carry major credit cards are well aware... Read More

Good Credit -- Essential for the Prospective Home Buyer

Credit is a funny thing. It can be a useful... Read More

Which Business Credit Cards with Reward are the Best?

Thinking of applying for a credit card with a reward... Read More

How To Protect Yourself Against Credit Card Fraud

In the high tech world of today, credit card fraud... Read More

Credit Reporting: How Does It Work?

In order to determine a consumer's credit worthiness, creditors and... Read More

What is a Credit Card?

A credit card allows you to buy things even though... Read More

What Can Happen to You as a Victim of Identity Theft, Facts & Figure

Is identity theft really that serious? Thousands of people every... Read More

How To Read Your Credit Report

The Fair and Accurate Credit Transactions Act, signed into law... Read More

3 Ways to Improve Your Credit Score by 50 Points In Less Than 30 Days

In Less Than 30 Days. "What can you do to... Read More

Student Credit Cards 101

Almost all students have and use student credit cards. Some... Read More

10 Tips To Prevent Credit Card Fraud

Imagine opening your credit card statement one morning and discovering... Read More

The Advantages of Credit Cards

There are many evils associated with credit cards, but there... Read More

Do You Know Whats On Your Credit Report ?

It is important to know your credit rating for a... Read More

Taking Control of Your Credit History

Your credit history is important; in fact, in this day... Read More

14 Common Credit Mistakes

Establishing credit and wisely managing your credit becomes easier when... Read More

Identity Theft ? How Can You Prevent It Happening to You?

The nightmare of identity theft strikes an estimated 750,000 people... Read More

Give Yourself Credit

The Beginning of the Credit Card EraIn 1951, Diners Club... Read More

Rebuild Your Credit the Right Way the First Time

If you are one of the millions of people out... Read More

Credit Help For Renters And Others On The Horizon

Sue is a homeowner and pays her mortgage and other... Read More

Identity Theft Exploding: Here?s How You Can Avoid Becoming A Victim

Americans are more concerned about identity theft than unemployment or... Read More

Good Credit Is Not A Good Reason To Borrow More Money After Youve Achieved Financial Freedom

The most important thing for you to remember is that... Read More