Headline Reads: Police say mom stole daughter's identity ...

By
Real Estate Mortgage Broker with www.genemundt.com NMLS #216987

 

     While reading the paper this morning, my eyes caught an article headline that read ...

     "Police say mom stole daughter's identity, charged money".

     You can see why my attention was drawn to the article, can't you?  Nothing seems more low or appalling than the thought of a parent harming their own Gene Mundt Chicago Bancorp blog Re: Headline Reads .. Police say mom stole daughter's identity ...child, their child's future, and their credit ratings through identity theft .

     I have written of this subject before.  ("When the Identity Thief is Mom or Dad ... What Do You Do?)  And as much as we'd always like to think warm and fuzzy thoughts of family, it's obvious from statistics and this news article ... this crime is out there and happens more often than we realize. 

     I can see how easily this crime could be accomplished.  Marilyn and I used to kid our youngest son about the number of credit card offers he received on a fairly consistent basis even at a very young age.  It was obvious that his name had found its way on to some leads list that all the credit card companies were utilizing at the time.

     For a parent or family member in a desperate situation, offers such as those that landed in our mailbox could be pretty tempting and seem like a good solution to problems.  And as today's article shows, some parents and family members aren't resisting that temptation.

     As reported in my blog mentioned above, the damage resulting from this crime is two-fold to the child victim.  There's the obvious damage done to the credit and finances of the child.  But perhaps even worse and harder to correct, is the emotional damage done.  The sense of betrayal felt by the child is acute in these cases.

     There are a few warning signs that a child's identity has been compromised or stolen.  They are:

  •      Calls are received from collection agencies.
  •      Bills and/or credit cards are received in the child's name.Gene Mundt Chicago Bancorp blog Re: Headline Reads .. Police say mom stole daughter's identity ...
  •      An Internal Revenue Service notice received noting a child's name or Social Security Number is listed on another tax return.
  •      Pre-Approved credit card offers are received in the child's name.  (Please remember:  THESE may also come from a child's legitimate bank account or college savings account.)
  •      An addict or someone with a history of fraud ... and knows or has access to a child's Social Security Number ... has a sudden infusion of cash or an improvement in their lifestyle.

     There is legal recourse regarding these matters and the police can be called in.  But many times, families do not wish to pursue criminal charges.  What to do then??

      First ... seek professional counseling for the child victim.  There's going to be emotional fallout from the crime perpetrated against them.

      Next ... seek-out a professional or credit specialist to assist you with untangling the credit and financial damage done.  Measure and monitor the successes as they are being made. Run periodic checks on the child victim's credit to make sure that corrective measures are taking place as they should, making a difference on the victim's credit scores, and staying corrected on all future reports.

     And remember ... results are achievable, but will require vigilence and attention.  Re-establishing good credit takes time and consistency of effort to achieve.  Definitely worth it and definitely the right thing to do for the child. 


       *  Should you be in need of your credit report, mortgage answers, or mortgage service, please do not hesitate to contact me at any time.  I will be glad to hear from you.    I can be contacted at:     Direct:   815.277.4036     Cell/Text:  708.921.6331    Email:  gene@chicagobancorp.com               Website:  www.genemundt.com   Skype:  630.219.1316                               Click here for a:   No Cost No Obligation Mortgage Consultation                      

 

 

    

       

    

    

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Gene Mundt

Regional Manager - Mortgage Lender

American Portfolio Mortgage Corp.

                                                                    Personal NMLS #216987

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NMLS # 175656

 

Gene Mundt, Mortgage Lender, a Lender with 36 years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL.  Gene Mundt, Mortgage Lender can be contacted at:  815.524.2280 or via his email: gmundt@goapmc.com.

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Topic:
Lending / Financial
Location:
Illinois Dupage County
Groups:
BananaTude
Cosmic Cow Pie...The Rome Way
Home & Credit Savvy
Local Expert
"Whacked"!!!
Tags:
identity theft
child identity theft
parental financial abuse
crime
credit
credit breaches
fraud
credit counseling and assistance

Comments 12 New Comment

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Rainmaker
639,175
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

Mona:  You're right .. it happens at both ends of the spectrum.  I'm not sure which is worse.  And yes, if only they used their brain to think up positive ways to confront the issues we'd all be better off.  It's obvious they're creative, if not smart ...

Donne:  Sometimes the stories I hear make my head spin.  I'm sure you've heard them too.  We should write a book ...

Fred:  If there's a way to scam the system, someone will find it and use it .. no doubt.  Some just seem to be a bit more personal than others and this is a good example of that.  Can you imagine the hurt caused???

Gene

August 31, 2011 10:06 AM
Rainmaker
284,211
Bridget McGee
Maryland Mortgage Mama NMLS#196068
Corridor Mortgage Group 410-960-2061

Gene, The worst I have seen personally is parents using their kids credit and "shopping" for a car.  The inquiries and the mess cost this young soldier her dream home.  A parent's job is to protect their children, it's so sad when it's the parent that is the perpetrator!

Maryland Mortgage Mama

September 01, 2011 12:58 AM
Rainmaker
639,175
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

Wow .. a car ... that's gutsy.  I think you have a blog there, Bridget ... would be interested to hear the details on that one.  And I can't even begin to imagine what must be going through someone's head to do something like this.  I so agree ...

Gene

September 01, 2011 10:12 AM
Rainmaker
132,622
Jack Tenold, Reverse Mortgage Specialist Washington | Oregon | California - refinance & purchase
Reverse Mortgage & Conventional Loan Specialist
First Priority Financial, Inc. NMLS 3257 Serving WA NMLS 3257 and OR ML 3337

This is a very sad situation whether or not the parents are "financially strapped & desperate" or "have no moral code".  Every child needs good role models from those closest to them - parents, relatives & teachers.  I can only hope that the children don't mimic their parents when they are adults. 

September 02, 2011 04:34 PM
Rainmaker
639,175
Gene Mundt
Mortgage Lender - Chicago/Chicagoland Mortgages
www.genemundt.com

Agree with you, Jack.  Hopefully they learn from their parent's mistakes and don't repeat them.  Thanks for writing and stopping by ..

Gene

September 04, 2011 03:15 PM
Anonymous
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Rainmaker
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Gene Mundt

Mortgage Lender - Chicago/Chicagoland Mortgages
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