This is definitely an arduous situation. I know firsthand because it happened to me about four or five years ago. Two credit cards opened in my name and max'd out, and I would have not found out when I did had I not gotten the mail one day as it was being delivered (this was real lucky considering I was just home for holiday break in between semesters at college). Luckily (if you could say that) for me, the accounts, although max'd, were not late nor had they drastically affected my credit profile.
When family is involved, there are a few things that will probably be considered by the person affected by the credit fraud before they take any kind of final action. How was their relationship with their parent before the situation took place? Why did they take out credit in your name in the first place? And how far along has your credit been affected?
To make a long story short, I did not take legal action. My mother was in legitimate financial troubles, but after things settled, she did promise to help pay down the debts (totaling around $9K), even if it just meant paying the monthly payments to keep the accounts in good standing (as in no late's, even if they were close to max'd). But keep in mind, I did end up having to take the brunt of the debt, and if I wasn't proactive in paying it down, the accounts would probably still be close to max'd as of today. All in all, the accounts are now at $0 balance, but mostly due to my hard earned money paying them down.
At the very least, freeze your credit reports. Take initiative, so that this can't and won't happen again. And good luck with your credit profile, and let's hope it's not too far gone and is still in good standing.
