Identity Borrowing - Is This Fraud?
There seems to be a gray area between what constitutes identity borrowing and identity theft and fraud. We recently received a letter from a reader basically asking us if someone "gives" you their SSN to use on a credit application - Is this fraud?
Your site discussed identity theft, what about identity borrowing? For example, I thought it was permissible to give my son permission to use my SS# on his application to strengthen his credit.(not as cosigner, but in lieu of his ). However, he was sued and received a judgment against him, but it doesn't appear on my credit report. Will they see their error and go after me? Has he committed fraud in this case, even with my permission (of course I wouldn't turn him in).
Don't you just want to yell "Duh!" at this guy? (Well, I did.) Even if his son "borrowed" his dad's number, didn't he sign the application that said "all information is true to the best of my knowledge and I understand I may face prosecution for false statements."
For shame on the parent for getting his/her son in such trouble. Not only wasn't the parent prosecuted, but no credit report damage was done!
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