Topic Guide
What Is Parental fraud?
Parental fraud is a subject covered in depth across 1 podcast episode in our database. Below you'll find key concepts, expert insights, and the top episodes to listen to — all distilled from hours of conversation by leading experts.
Key Concepts in Parental fraud
Identity theft by a family member
This refers to the act of a close relative, specifically a mother in this episode, fraudulently opening a financial account like a student loan in another family member's name. The episode underscores that while legally a crime, pursuing justice against a loved one creates a profound moral and emotional dilemma for the victim, forcing a choice between legal recourse and familial relationships.
What Experts Say About Parental fraud
- 1.A caller is dealing with two student loans totaling $40,000, one she agreed to, and a second one totaling "just over 21,000" that her mother fraudulently took out in her name.
- 2.The caller is primarily "upset and angry and confused" about the second loan, which she did not sign for.
- 3.Dave Ramsey presents two "ugly" options for the fraudulent loan: reporting it as identity theft or accepting the debt and paying it.
- 4.Reporting identity theft for a student loan fraudulently signed by a parent requires filing a police report and reporting them to law enforcement as a criminal.
- 5.Dave Ramsey unequivocally labels the mother a "criminal" and "scummy" for her actions.
- 6.The host also critiques the "ridiculous student loan program" for enabling such situations.