|
New Page 1
|
 |
What To Do When Someone Close To You Steals Your Credit Identity
September 2, 1999
|
Dear Ben: I'm in the military and found out recently that my mother applied for and received a Visa credit card in my maiden name. According to my credit reports, the account was opened on 2/17/97. The date's important: I got married on 2/7/97 (while stationed in Japan) and the card's issued in my maiden name. Last week I received a letter from a debt collector attempting to collect $3,200 for the (defaulted) Visa card! I'm giving my Mom until Friday to send me the money, but what can I do if she doesn't pay up? What would happen to her? Will it stay on my credit reports? I pay my bills on time and now she's ruined my credit to the point that I can't get a car or home loan at a reasonable interest rate or a credit card...and I'm only 25 years old!
---Lisa, via e-mail
Dear Lisa: I've got good news and I've got bad news. The bad news is that your Mom could end up with a criminal record as a result of her actions. The good news is that if you do decide to "turn her in," look at all of the money you'll be saving on future on Mother's Day, birthday and holiday gifts!
On a more serious note, you're faced with a tough decision: Turning Mom in will subject her to the certain the wrath of fraud investigators and probable prosecution for mail and identity fraud. But do you allow yourself to be victimized one more time? What she did was wrong, and aside from being saddled with the debt (for now), it's torched your credit report for at least the next seven years! Your choices are clear:
a) Let Mom "repay" the debt . Although you'll end up with a zero balance, you're still looking at being saddled with a screwed-up credit report until you turn 32, or...
b) Drop "Mommie Dearest" in the grease, making her accountable for her actions (my strategy of choice, incidentally)! What she did was commit fraud and hurt you--as well as the bank that issued the card--in the process. If she got caught doing this "to a stranger," she'd be prosecuted by the authorities in a heartbeat. Why should you be victimized "twice?" Why should you suffer for her indiscretions?
If you pay off the debt, you're stuck with a damaged credit rating for years. Dispute it as a fraudulent case of identity theft and it will eventually be deleted from your credit reports. But expect the bank investigating the case to force you to sign a fraud affidavit which will be used to prosecute dear Mom. By the way, this is a very common form of fraud; current or former spouses or family members (both children and parents) obtaining credit cards under familiar names. The scam blows up when the victim pulls a credit report (when they decide to buy a big ticket item like a house or a car), or when the perpetrator defaults on the credit card. It's your call but it looks to me that either way, you end up the loser.
Dose of Dover For The Week: Have you ever wondered where all of the unclaimed baggage ends up? According to the September issue of Maxim Magazine, if the airline can't figure out who owns a piece of luggage after 90 days, they sell it to UBC, the Unclaimed Baggage Center, located in Scottsboro, Alabama. UBC sells off the contents, the ultimate treasure hunt for those so inclined. From Armani suits to Palm Pilots to digital cameras...one person even found a five carat diamond at the bottom of one suitcase! Check out their website: www.unclaimedbaggage.com or give them a call at (256) 259-1525.
|
|
|
|
|
