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6 money habits that are illegal

Using someone else's identity to obtain credit
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Using someone else's identity to obtain credit

The use of someone else's name and identity to obtain credit is an obvious no-no. But suppose -- and Kaplan says she's heard tales of such situations -- a parent whose credit has been ruined uses a child's name and identity to open new credit accounts. Illegal? You bet.

"It's illegal to pose as someone else," Kaplan says, "but there is also a moral question: Do you want to punish your child and wreck their credit as well?"


 

 

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