According to a recent study by Javelin Strategy & Research, more than 1 million U.S. children were victims of identity theft in 2017, leading to $2.6 billion in losses and families paying over $540 million out of pocket. In light of these staggering figures, the Federal Trade Commission has implemented a new “Child Identity Theft” option for those reporting ID theft through www.identitytheft.gov. The website also guides parents through the process of checking and freezing their child’s credit profiles for free and shows how to obtain credit reports through the major credit bureaus (Equifax, Experian, and Trans Union).
In general, children should not have credit reports unless they are authorized users on their parent or guardian’s accounts. If your child has a credit profile, be sure to report the identity theft through www.identitytheft.gov and use the report to dispute in writing with the credit bureaus.
If the credit bureaus and lenders fail to remove the fraudulent reporting from your child’s credit profiles within 30 days, you will have a claim on the child's behalf under federal law. The law allows consumers to bring claims for no out-of-pocket expense because the defendants are required to pay your attorney’s fees and costs as part of your claim, along with potential damages to you, if you are successful. If you or your children are victims of identity theft, you should contact a Las Vegas identity theft attorney to discuss your rights under the law.