SPENDonLIFE.com Scholarship Blog

     How is it that children across the country are losing their identities before they're even potty trained? According to statistics five percent of the nations children are victims of identity theft. Three percent out of the five are victims of true theft, while the other two are victims of clerical error*. Numbers, that while still on the low end, should cause parents to consider adding checking their children's credit history to the "Honey Do" List.

     For most people, the idea that a child could be a victim of identity theft seems absurd. After all, children don't carry lines of credit, or have drivers licenses and social security cards tucked in their pockets. It is through this thought process that we allow our children to fall victim. Most children don't consider looking into their credit history until they start applying for jobs and lines of credit, such as loans for college. By this time, the thief has left thousands, even millions of dollars worth debt to the child's name. The average debt of a child in this situation is $12,779*. Thousands more dollars will be spent working with lawyers, creditors and the government just to clear this away. With adults, theft is noticed quicker. Adults are busy applying for car loans and mortgages. Thieves often don't have time to rack up millions of dollars of debt.

     This unfortunate trend raises questions. How is it so easy to use a child's identity to open lines of credit and obtain various forms of benefits? Does the bank or employer not check the background of social security numbers established for less than a certain number of years? Tighter restrictions need to be put in place to ensure the use of children's identities does not go unchecked. Until that time it is up to us as parents and family members to keep a close watch and use the resources available to us to ensure the safety of their future.

     SpendonLife.com is dedicated to educating students of the importance of credit and how to protect themselves against identity theft. For further information and to participate in available scholarships please visit SpendonLife.com.

*Birch, Dave. Children and Identity Theft. Nov. 18, 2008. Digital Identity Forum. http://digitaldebateblogs.typepad.com/digital_identity/2008/11/children-and-identity-theft.html.