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Author: vangor94 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121333  
Subject: Junior vs. Senior Date: 1/31/2000 5:13 PM
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My wife and I are about to have a baby boy. We'd like to give him my full name but call him by my middle name. What should I watch out for in terms of taxes and credit reports as far as how to report our names. Do i need to start using 'Sr.' after my name? With custodial accounts, should they be set up with 'Jr.' after his name? I'm concerned since several of my friends have had problems with their parents loans or bad credit showing up on my friends accounts (they either had similar names or initials).
I realize that the IRS (and credit reporting agencies) should be able to separate us based on our SSN# but I'd like to avoid any problems before they happen.

john (Sr.)

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Author: vargaj Three stars, 500 posts 10+ Year Anniversary! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 26476 of 121333
Subject: Re: Junior vs. Senior Date: 1/31/2000 5:22 PM
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All I can tell you is that I have a son-in-law with the same name as his father. His credit report is so screwed up, I see no chance of him ever straightening it out in his lifetime. It creates endless problems including the inability to buy a house. I would not wish this on anybody.

Be creative: give him his own name.

Joe Varga

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Author: JABoa Big gold star, 5000 posts Feste Award Nominee! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 26477 of 121333
Subject: Re: Junior vs. Senior Date: 1/31/2000 5:31 PM
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I'd do "Jr." The Rockefellers are up to John Davison Rockefeller IV (he's Senator Jay Rockefeller of West Virginia) and they seem to keep things straight by their numbering system.

In our family we distinguish by changing the middle name. As it happens signatures are almost identical (the acorn does not fall far from the tree, I guess). But I am aware of only one case in 60 years when the signature of JBoa was confused with that of JCBoa, and none in 45 years when that of JCBoa was confused with that of JABoa.

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Author: Wiggy4 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 26490 of 121333
Subject: Re: Junior vs. Senior Date: 1/31/2000 6:23 PM
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I, myself, am a Junior, although I do not use the Jr. suffix in my name. It is on my birth certificate, but not on my SS card or DL and therefore, not on my credit report. While I have been seperated from my father since 2 years of age, I don't know much about him. But I digress. From my understanding, my father was "creative" in many ways (financially among them), however, I was never stung by any of his financial transgressions.

The short version is: keep track of your own fiscal responsibilities (including periodic credit report evaluation) and all should be well. Remember, the burden of proof is on the creditor.

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Author: RooCat Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 26569 of 121333
Subject: Re: Junior vs. Senior Date: 2/1/2000 3:11 AM
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I agree with Joe. I have a client who is a Jr. He is constantly harrassed as if he was his father, Sr., who's credit is bad, not to mention parking tickets, etc. I vote for giving him his own name.

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