Have you ever heard of parents taking on debt in their kids name?

[Lynx122]

I just saw on the internet someone claimed that her parents borrowed almost 1 million dollars in her name and now she has to pay it back. I've never heard of something like this happening in my life. Is it possible in the U. S. ?

[hahahmm]

Some parents are users/losers or maybe only 1 of the parents is. Add a gullible kid and boom. Happens a lot. The reverse happens too where parents give a lot to a kid who lies about what they're doing with the cash which is very similar. Either way someone is getting robbed.

[DrPepper12]

YES!! There's specially packaged products for this!! It's a trap for kids and parents. American education K-PhD is a capitalist dystopia.

[Lynx122]

I know what you mean. But I meant even more evil, like the parents purposefully leave the kid with debt while they spend the money. Like signing up for loans using the kids social security number and name. I didn't even know that was possible. Maybe it was just internet bullshit but I saw people talking about this online.

[DrPepper12]

That's horrible. And no it's not bullshit, I've heard of the same thing. I am very good friends of mine who stole their own kids money that was their savings account from birthdays holidays bar mitzvahs sweet 16s and now the money is all gone and the kids have nothing.

[thegreenyogi]

Yes in Italy it's common for parents to guarantee for their children in case of a loan.

[Lynx122]

That's not what I meant. I meant underage children and their parents take out a loan in the name of the child and use up the money and leave the child with debt.

[thegreenyogi]

Apologies.

[thegreenyogi]

Thank you!

[Drewtate]

Yes but the parents fraudulently signed forms relating to their daughter.

[NathanDavis]

we...

do business together, also... we're family

[exitseven]

I imagine it happens a lot to kids in show biz.

[jahaims]

Yeah