Image you’re a college freshman getting ready to start school. You apply for your first student credit card, but you’re denied by the first credit card company you apply to. So you apply with another company and you’re denied again. After some digging, you discover someone has stolen your identity and run up $1.5 million of debt in your name. But what is even more shocking is, you discover someone stole your identify when you were 9 years old!

While you may think your child’s identity is safe, this may not be true. Over 140,000 children are victims of identity theft each year according to the Federal Trade Commission. Thieves target children because it can be several years before you or your child learn that their identity has been stolen.

Unfortunately, by the time you discover the theft, your child’s credit record is in shambles – ultimately making it difficult for them to get a job, a student loan, a car or an apartment. Your child can even have difficulty obtaining a home mortgage in the future.

However, here are 8 things you can do as a parent to protect your child’s identity.

1. Lock up your child’s social security card, birth certificate and other important papers in a safe place.
2. Don’t give out your child’s social security number unless it’s absolutely necessary. Ask schools, doctors and other businesses if they can use another identification method for their records.
3. Keep a list of all businesses you’ve given your child’s social security number to, so you know who to follow up with in case a theft occurs.
4. Cross-shred any documents that contain your child’s identification info when you’re ready to dispose of them.
5. Install and maintain antivirus software and firewall protection on your home computer. If possible, don’t keep any personal identification info on a computer with Internet access. Don’t send any personal information through an unsecured connection – especially an unsecured wireless connection in a public place.
6. Investigate all credit card offers, account statements, or collection agency calls you receive in your child’s name. These could be warning signs that your child’s identity has been stolen.
7. Request a Social Security Earnings report for your child each year to see if someone is using their social security number.
8. Request a free credit report from Equifax, Experian and TransUnion each year for your child. Note: If a thief is using a different name and birth date, these reports may not alert you to possible abuse.

At Grandview Lending, we hope your child’s identity is never stolen. But by following these tips, you can protect your child and act immediately if you ever suspect a theft. And, remember we can help you with all your mortgage needs when you’re ready to buy a new home.