Looking for some life hacks or advice about managing money? There’s no shortage of online influencers ready to help. But not all advice is good advice (or truthful). And in some cases, what they’re telling you might be more than a bad idea — it might be illegal.
Credit matters. What’s in your credit report can be used to decide things like whether someone will loan you money, give you credit, offer you insurance, rent or sell you a home, or even hire you. If there’s a lot of negative information in your credit report, you also might have to pay more in interest to borrow money.
Some online influencers are telling people they have a fix: file a false identity theft report about a debt they owe. That’s advice not to take. Filing a false identity theft report may leave you worse off — and it’s a crime that could get you a fine, imprisonment, or both.
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