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How to Protect Your Child’s Identity

How to Protect Your Child’s Identity

Adults are often on guard about protecting their personal information and aware of common scams that could leave them susceptible, but what about our children? Because children don’t have credit cards or lines of credit, we usually don’t think about protecting their identities, but their blank slate is exactly why they’re prime targets for identity theft. Thieves often jump for joy when they can obtain the information of a child because it means the fraudulent activity may not be discovered for years. They then use this information to apply for credit cards, open bank accounts, rent an apartment, or even apply for government benefits. It isn’t usually until a child nears adulthood that they discover that they’ve been taken advantage of when they find it difficult to apply for jobs, open their own bank account, or apply for college. To prevent this from happening and to fight it if it does, follow these steps: 1. Be aware of suspicious activity Junk mail is a fact of life, but don’t brush it off if it has your child’s name on it. Promotional offers and credit card applications could be an indication of identity theft. In addition to suspicious mail, other suspicious activity includes: Being denied for a bank account or driver’s license Being turned down for government benefits because the social security number is already associated with an account Receiving collection calls/bills Receiving an IRS bill 2. Protect their information There are only a few situations in which your child’s personal identifying information should be necessary. This usually includes medical care, school registration, applying for benefits, or admission into various...
Should You Hire a Credit Repair Company or Fix Your Credit Yourself?

Should You Hire a Credit Repair Company or Fix Your Credit Yourself?

Fixing your credit is usually one of the first steps of those who are worried about being approved for a mortgage, car loan, or other form of financing. After all, your credit score can potentially cost or save you hundreds of thousands of dollars in interest rates, insurance premiums, etc. over the course of your lifetime. So if you’ve recently been denied a loan or know that your credit score needs some TLC, where do you start? This is where credit repair companies come in. Benefits of Using a Credit Repair Company There are pros and cons to repairing your own credit and hiring a credit repair company, so let’s look at some of the ways a credit repair company can help you more than you may be able to help yourself. Experience. The experts who do this every day have already seen cases like yours. They’ve talked to the credit bureaus, they know how to make a strong case and negotiate repayment terms. They know the right steps to take, and how to get things done. They’re paid for results. Reputable companies are paid for results. They spell out exactly what they will do for you, and the associated fees. This compels them to work as hard and quickly as possible for you. They save you time. Are you familiar with the Fair Credit Billing Act? How about the Fair Debt Collection Practices Act? Chances are, no. If you go the DIY route, you’re going to have to spend time researching these laws that are designed to protect you, but it will take some time for you to...
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