Credit Myth #7 of 10 (Series 1)

Getting Sneaky and Tricky will land you in JAIL. Don’t do this.

Q:By changing numbers in my social security number or by using an EIN tax number, I can fool the bureaus into creating a completely clean, new credit file under my name.

A: This scheme has proven to be complex, difficult, and illegal. Lying about any personal information on a credit application is usually a criminal offense. Using these “file segregation” schemes requires an enormous amount of coordination, not to mention personal risk. In addition, making false statements on any application is considered fraud. You really do not need to get tricky to re-build a credit profile.

If there are negative accounts reporting,then you need to challenge that reported information immediately. After all it ism you right under the FCRA Fair Credit Reporting Act. Like builder that can build a home from scratch, a credit repair professional can show you how to re-build your credit from scratch. Most professionals are just a phone call away.

We encourage you to make that call now. Stay far away from faking your social security number and using false information when applying for new credit. This is a federal offence in most cases. Be smart!Don't do it.