Student Discovers A $60k Loan In Their Name, Calls Police On Parents Who Secretly Took It Out

Would you ever have your parents arrested? You might think your answer is no, but what would you do if your parents racked up huge debts in your name, that you couldn’t afford to pay off? Just imagine being a college student, saving up to move out of your parents’ home, only to find out that your credit score is ruined because of debts you never knew existed.

This is what the OP (original poster), had to deal with when they were suddenly hit with a $60K debt they were not able to pay off.

More info: Reddit

Kid gets parents arrested after they open accounts in kid’s name, racking up $60k worth of debt

Image credits: Drazen Zigic (not the actual photo)

Student saves up to move out of parents’ home, finds out they can’t as their credit score is ruined by the debts they had no idea existed

Image credits: Drazen Zigic (not the actual photo)

Image credits: jcomp (not the actual photo)

“I am about $60,000 in debt because of them”: the parents take out loans and credit cards using their child’s identity, racking up huge debts they can’t pay off

Image credits: No-Mushroom3470

“My parents got arrested and charged”: the student turns his parents in and has them arrested, as it’s the only way they can clear their credit score

After finishing the third year of university, the OP was ready and excited to spread their wings and move out of the parents’ house. But that excitement didn’t last long as they found out a $60K debt was ruining their credit score.

If you’re wondering how that happened, you’re in for a surprise. The OP’s parents had secretly taken out credit cards and loans in the OP’s name. At first, they were using the money for paying the bills, but things took a nosedive when they started falling behind on payments. But the OP had no clue about any of this because they didn’t have a key to the mailbox and never saw the bills.

Things got even more complicated when the OP’s parents found out about their plan to move out and completely freaked out, prohibiting the OP to go anywhere. Their reasons? It was financially irresponsible to waste money on rent when the OP could just stay at home. Look who’s talking about financial responsibility!

The OP thought that maybe their parents’ dislike for their boyfriend was the real issue, but oh boy, were they wrong. “Long story short, I am about $60,000 in debt because of them. I cannot afford to pay that off,” the OP recalls.

The OP discovered they were the main character in a financial nightmare, having a whopping $60,000 debt in their name, because of their parents’ actions. Can you imagine the shock and horror? The OP demanded their parents clear the debt immediately and even asked for a change in house rules so their boyfriend could spend the night. But the parents refused.

Feeling desperate and betrayed, the OP reached out to their aunt for help, who welcomed them with open arms and started asking all the right questions. She even pulled up a dozen Reddit posts about parents messing up their kids’ futures by stealing their identities.

Image credits: jcomp (not the actual photo)

Identity theft is a nightmare, but when it’s committed by your own parents, it adds an extra layer of horror. “Family identity theft is a crime that occurs when someone steals a relative’s personal information and uses it fraudulently. Family members often commit identity theft out of financial desperation,” experts explain.

The OP’s parents not only racked up $60K in debt but did so by exploiting their child’s identity, leaving the OP to face the harsh consequences. Experts explain why kids can be vulnerable to identity theft: “A child has a blank credit history, which makes it easier to open new accounts and then run up bills. If the parent uses a child’s identity and leaves a trail of bad debts, the child will pay financially and emotionally for years to come.”

With their aunt’s support and determined not to allow their parents to mess up their future, the OP decided they had to do something about the mess, so they went to the police and reported their parents, which led to them being arrested and charged. Obviously, they were furious with their kid.

But from the OP’s perspective, they had no other choice, as this was the only way to clear their credit score. “To get the debt off my record, I have to show it was fraudulent. To do that, I needed the cops,” the OP explained in a comment. Their future was on the line, and they couldn’t let their parents’ betrayal ruin it.

Dealing with betrayal from close family is a gut-wrenching experience, especially when it comes from a parent. According to experts, family betrayals can lead to deep emotional scars and lasting trust issues. “Any betrayal can cause emotional distress. But you might experience lingering trauma when someone you depend on to respect your needs and help safeguard your well-being violates your trust,” experts explain.

The OP felt bad for having their parents arrested, but they knew they couldn’t let them ruin their future. If sometimes protecting ourselves means making difficult choices, so be it. It’s okay to prioritize our future and make sure it’s not ruined by someone else’s bad decisions.

What’s your take on this financial drama? Was the OP a jerk for having their parents arrested or were they right to protect their future? Drop your comments below.

Netizens are shocked by the story saying the student is not a jerk for having his parents arrested for stealing their identity

Instances like this highlight the devastating impact of family identity theft, where trusted relatives misuse personal information for financial gain. If you want to understand the potential consequences and emotional toll of such situations more deeply, consider exploring stories that reveal how credit card fraud within families can unravel lives, adding layers of complexity beyond typical fraud cases.

For more detailed insights on similar cases and the emotional repercussions faced by victims, check out the intricacies of credit card fraud within families.

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