Along with death and taxes, there’s a third certainty of life: At some point, your wallet will go AWOL. Whether it’s just temporarily missing under a seat cushion or swiped by a thief and never returned, prepare now because a lost or stolen wallet often results in identity theft.
It’s bad enough that everyday citizens file more complaints to the Federal Trade Commission about sleazy debt collectors than about any other consumer scam. Now, another government watchdog agency reports that military personnel are especially popular targets of collector abuse — often for debts they don’t owe.
No matter where you live, a credit freeze is a great way for you to prevent identity theft — particularly the opening of new credit cards, loans and service accounts in your name. But depending on where you live, a freeze isn’t easy to get for your offspring.
We heard through the grapevine about a boomer couple upset because their son, who graduated from a prestigious college and professional school without loans, was marrying a young lawyer with tens of thousands in educational debt. The parents feared that paying off this financial burden would delay the couple in buying a house and starting a family. Wisely, they chose to say nothing.
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