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From Black Voices— Have you ever seen a friend take out a light bill in their 6-month-old baby’s name? What about your other friend, who goes to get their first credit card and finds out that they have a low credit score, a bad payment history and $10,000 in debt? Well, while we might be tempted to think that this only happens to “Shanequa nem,” the truth is that jacking up your child’s credit is apparently a growing trend all across America.

It is possible to use your child’s name to get loan or a new credit card. Or to have utilities turned on mainly because your age is not included as part of a credit check. So, that newborn baby of yours could end up owning a brand new car if you are unethical enough to use your child’s name and Social Security number on the loan application.

Another reason that it’s easy for parents to be tempted to use their children to get things they can’t afford is because you can do pretty much anything to someone if you have his or her Social Security number. Yes, folks, this is called “identity theft,” and it’s illegal. But the other hurdle in prosecuting such cases is that the child doesn’t usually find out they’ve been hurt until they are well into adulthood. And who’s going to turn on their mama and report her to the police?
Not only do some parents have a habit of using the identity of their underage children, some even turn to their children for help during adulthood. According to LeaseTrader.com, there has been a 30 percent increase in the number of cases of 21- to 28-year-olds co-signing to help their parents buy the things they want or need. “You used to rely on your parents to help you out or co-sign something,” said John Sternal, vice president of marketing and communications at LeaseTrader.com. “Today it’s a little bit of the opposite, since kids often have credit situations that haven’t been tarnished as much as their parents.” Continue Reading @ Black Voices!

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