GREENSBORO, NC — Your kid has money in their piggy bank. But that’s not what the crooks really want. They want your kid’s credit, their financial identity. Unless you’re checking your child’s credit every year, you probably wouldn’t know if someone opened up a loan in their name. And they wouldn’t find out until they went to apply for their own loan. Then…you have a mess.
Here’s how to avoid that.
CHILD CREDIT FREEZE
NC law allows parents to protect their children from identity theft by freezing their child’s credit. This keeps others from taking credit out in your child’s name. You need to do this my mail or phone.
Equifax Security Freeze
P.O. Box 105788 Atlanta, GA 30348//1-800-685-1111
Experian Security Freeze
P.O. Box 9554 Allen, TX 75013//1-888-397-3742
TU Protected Consumer Freeze
P.O. Box 380 Woodlyn, PA 19094//1-800-916-8800
You’ll need to provide
• Who you are (a copy of your driver license, a utility bill showing your name and address, your SS card, or your SSN)
• Who the child is (a copy of the child’s SS card, or their SSN)
• That you are their parent (an official/certified copy of the child’s birth certificate)
Select “Add a Security Freeze”, and then select “Place a Security Freeze on Minor’s Credit File”
Each credit bureau can charge a fee of $5.00 to establish a credit report in your child’s name and then place a Protected Consumer security freeze on it. The fee will be waived if:
• You can prove that your child has already been a victim of identity theft (police report, etc.)
• A credit report in your child’s name already exists (credit bureau will research this)
You can check your child’s credit for free at AnnualCreditReport. You can check it once a year at each of the three bureaus. You can have the $5 freeze fee waived IF someone has opened up credit in their name and they are now a victim of identity theft.