CNN Money has named Charlotte, NC one of its “10 Fastest Growing Cities.” Every day more and more young people are setting down roots in the Queen City with the hope of starting a family. These people generally talk to us about long-term planning to ensure the financial safety and stability of their loved ones and young children. Thus, we felt we should make our clients and site visitors aware of an exciting new North Carolina law that could solidify their children’s financial health and prevent headaches in the future.
As of January 1, 2016, North Carolina residents can now create a credit report for their young children – only to freeze it. What does this mean? Identity thieves will be unable to use unsuspecting children’s social security numbers to open credit cards or apply for loans. The fee to freeze your child’s social security number is only five dollars, and it can only be unfrozen upon your approval or your child reaching age 18. The law was enacted in response to increasing thefts of children’s social security numbers. Some of the children targeted before the passage of the law were as young as one month old. Lawmakers have made it simple to help protect your family and avoid a frustrating struggle to reclaim your children’s identity.
This easy and inexpensive step will leave your child with a clean credit report when it comes time for them to apply for student loans, credit cards, or other necessary loans. We at Nosal & Jeter, LLP want to help families be successful and use all that the law has to offer to protect their future. When you have finished freezing your child’s credit report, call us or email to find out what else we can do to protect your financial future.
Click here to freeze your child’s credit report: https://www.ncdoj.gov/Protect-Yourself/2-4-3-Protect-Your-Identity/Protect-Yourself/Freeze-Your-Credit.aspx”