Q. I have a friend who recently found out that his mother used his Social Security number to take out credit in his name before he was 18. He wants to fix his credit, but he doesn't want to get his mom in trouble. Do you have any suggestions for him?

A. First he should obtain his credit report from all three credit bureaus (Equifax, Experian, and TransUnion), which will show every lender that has given credit in his name. Next he should file an extended fraud alert with each of the credit bureaus. For the next seven years, lenders will be required to call before extending credit, making it harder for anyone to commit fraud against him.

To clear a credit report of false information, your friend would have to report the identity theft at ftc.gov. By reporting the theft, he will have the best chance of getting step-by-step help to wipe away any debt that doesn't belong to him.

Unfortunately, the FTC has no way of controlling whether the lenders will attempt to find the perpetrator of the fraud. The only way to find out is to check the fraudulent debt reclamation policy of each lender. Depending on the lender's policy, your friend may or may not be able to report the theft without any consequences for his mom. It will be a gamble. If he's determined to avoid repercussions for her, he might have to deal with the credit issues as if they were his own.
 

Editor's Note: When answering your questions, brass consults with experienced professionals from a wide spectrum of industries. We utilize their expertise to give you the answers you need, but it's always wise to seek additional opinions from other professionals.

Sources: idtheftcenter.org, privacyrights.org, ftc.gov