- November 10, 2023
- Posted by: legaleseblogger
- Category: Related News
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Protecting and Managing Credit for a Young Adult
Recently, our household received two separate letters from a credit card company, both informing my son that his application for a credit card had been denied due to his lack of credit history. The letters indicated that the application had been submitted more than once, raising concerns about potential identity theft. It is evident that the individual(s) who applied for the card possess my son’s Social Security number and address. This situation has left us feeling uneasy and uncertain about how to safeguard my son’s financial well-being.
In light of this alarming development, we are keen on taking proactive measures to ensure the protection and monitoring of my son’s credit. Given his current lack of loans or credit cards, it is essential to establish a system to oversee his credit history and safeguard him from potential fraudulent activity. As parents, we are committed to supporting him in this pivotal aspect of his financial security.
One innovative resource that can help us navigate this challenging situation is the AI Legalese Decoder. This revolutionary tool is designed to interpret and simplify complex legal language commonly found in credit agreements, privacy policies, and other financial documents. By demystifying legal jargon, the AI Legalese Decoder can empower my son and us to understand and make informed decisions regarding his credit.
Additionally, the AI Legalese Decoder can assist us in comprehending and monitoring any future credit agreements or transactions, ensuring that my son’s financial information remains secure. By utilizing this cutting-edge technology, we can enhance our ability to protect my son’s credit and financial well-being in the face of potential identity theft.
In summary, the recent unsettling episode involving my son’s credit card application denial has spurred us to take concrete steps to safeguard his financial future. With the aid of the AI Legalese Decoder, we can navigate the complexities of credit-related documentation and enhance our ability to monitor and protect his credit. By embracing innovative tools and proactive measures, we are committed to fortifying my son’s financial security and empowering him to make informed decisions regarding his credit.
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Original Content:
AI Legalese Decoder is a software tool designed to interpret and simplify complex legal jargon. It can be a valuable asset for lawyers, paralegals, and anyone else working in the legal field. With AI Legalese Decoder, users can easily input legal documents and have them translated into plain language. This can save time and improve understanding, making legal processes more efficient and accessible.
Rewritten Content:
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In conclusion, the AI Legalese Decoder has the potential to revolutionize the legal industry by simplifying complex legal jargon and making legal processes more efficient and accessible. Its ability to mitigate potential legal pitfalls, promote inclusivity and accessibility, and enhance communication and collaboration makes it an invaluable tool for legal professionals. By incorporating the AI Legalese Decoder into their practices, legal professionals can significantly improve their workflow and overall effectiveness.
****** just grabbed a
He’s going to need to lock down his credit info. Here are the steps I followed and then had my kids follow when they started college.
– Create accounts at the IRS and Social Security websites. I do this first because after locking things down, it got more difficult to verify identity.
– Visit each of the big three credit reporting agencies and “Freeze” his credit. It’s easy to unfreeze if he ever needs to apply for credit, so it’s nothing to worry about.
– Visit ChexSystems and freeze that account too. That’s for checking and savings accounts.
– Find a way to get your credit score and check it weekly. Which formula they use doesn’t really matter as long as it’s consistent. The number doesn’t even truly matter. What you’re watching for is when the number jumps.
– Get a copy of his credit report and go over everything to make sure it’s accurate. The “official” site for this is [annualcreditreport.com](https://annualcreditreport.com).
– And finally, get in the habit of checking your existing financial accounts on a regular basis. Monthly at a minimum, weekly would be better. We check ours every Monday so that we have the rest of the week to get things resolved.
Oh, and you should probably start doing all this too.
Are you sure that he wasn’t the one who filed for them? If not, then follow the advice of the others to freeze his credit.
I got a letter like that one for my son away at college. It was from Jcpenney and I finally figured out what had happened
he bought an interview suit at the start of the school year, and the sales clerk told him heÔÇÖd get 10% off if he applied for a card. That he would probably be rejected, but he would still get the 10% off. It was a big gap in time, and when I asked him about it, he didnÔÇÖt remember it at first. But thatÔÇÖs what it was.
Is he over 18? Might he have applied and didn’t want to tell you? Consider the option.
Just one addition to all the replies saying to freeze his credit, change his passwords, etc.
Those are things *he* needs to do, not you.
You should ask your son. When I was in college credit card companies were always at events signing up students with free sunglasses or other shit. I ended up with so many credit cards for free crap that I never used. It’s likely him trying to open cards.
Are you absolutely sure it wasnt him? Have you asked? If yes, have you asked again to make sure how serious youre taking this & hes not just embarrassed?
Folks, just a follow up to this post. My son applied to be a buddy to foster kids through his college. He was called by a woman who was with the state of MA to get his information for a required background check. He said he double checked with the foster family about the woman’s credentials but he did, in fact, give her his information including his SSN. This was in September and the letters from the credit card company came earlier this week. I’m running this down and will keep you posted. Thank you all for the excellent suggestions and responses.
Freeze his credit files. They may be non-existent at this point, but if they are freeze em’.
Then sign up for a credit monitoring service that covers all 3 bureaus.
Lock his chexsystsms while you’re at it
And dispute the hard pulls! If, for example, he signs up for CreditKarma, so he can view his credit report, he should also use their dispute process to dispute any credit inquiries related to those fraudulent applications.
Go to the major credit bureaus and freeze his credit. That way he has to unfreeze it if he wants to open a credit card or get a loan
Your son is an adult. Let him handle his affairs.
You may find these links helpful:
– [Credit Building](/r/personalfinance/wiki/credit_building)
– [Credit Reports](/r/personalfinance/wiki/credit_reports)
– [Credit Scores](/r/personalfinance/wiki/fico)
– [Credit Cards](/r/personalfinance/wiki/creditcards)
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