Privacy Information :: Financial abuses of deadbeat parents

Keep the Information Flowing

Small contributions go a long way. Your donation to Consumer Action, a 501 (c)(3) nonprofit, nonpartisan organization, can help us cover the cost of research, writing, and translation of our materials. To keep our services free for those who need them. Select an amount to give.

Released: June 08, 2010

Financial abuses of deadbeat parents

Source: Blake Ellis, CNNMoney.com

For parents who’ve wrecked their own credit rating, cashing in on junior’s clean financial history is increasingly tempting.

Children make easy targets for identity thieves because they don’t use their own credit and likely wouldn’t notice any discrepancies until they reach adulthood. And when a parent uses their own child, the risk of prosecution is lower because of the family ties. It’s not easy to turn in mom or dad, especially if they were simply trying to provide for the family.

Read Full Article: Financial abuses of deadbeat parents