Parents can ruin children’s credit score if they don’t come to visitBy Mason White 9:40 AM April 10, 2016
|Elderly people (illustration)|
By: Mahesh Sarin
The government in China, decided to punish children who do not visit their elderly parents.
In response to a rapidly aging population, Shanghai officials are implementing a new law, requiring children to visit their parents or suffer the financial consequences.
Children in Shanghai, who do not regularly visit their parents, can expect their credit situation to be negatively impacted by their disloyalty.
The new law allows parents to sue their children who do not visit them. After a court ruling, if children continue to neglect their elderly parents, it will be reported to the credit bureau.
The affected credit can have consequences in the future, affecting work and life.
Such laws have been in the works since 1996. This new policy is part of a movement to improve support for the 220 million elderly people in the country.