There is a problem with doing any of the above in that it is a felony to lie on a credit or loan application. If you decide to try this, the mortgage lender or whomever you try to defraud will likely catch it, and if they do, they have the right to turn the whole matter over to your local district attorney for prosecution. First offenders convicted of bank fraud usually get a two year prison sentence.
People who sell "credit a new credit identity" information are scam artists who are in violation of the Credit Repair Organizations Act, which is federal legislation that bars anyone from claiming that consumers can create a new credit identity.
If you have bad credit, and you give a. And this is where our system becomes unique, you are not fooling anyone, not lying, with this system you are just avoiding the matches that would normally deny you credit.
Understanding how the CB's identify you is the first step, now you know what they look for, lets now turn our attention on the first step of the program. The First step is to get a TIN, which is a taxpayer identification number. You get one from the IRS. It is used to identify home based businesses and the like.
So you are in effect applying for a business tax ID number not literally. You do not have to say why you want it, but you can say that you are going to start an MLM or some type of home business, which you should. You will receive the form within 2 weeks at most. The instructions for filling it out the will follow, but first read and understand the questions on the form. Fresno, Ca. Ogden, UT. Take the time to read our instructions and understand them before sending the form, if you do not follow the steps, all your efforts will be in vein, and you will never again get the chance to get a new file.
When you have received the form, look it over carefully. You will need to fill in the following parts. Please consult an attorney in your area BEFORE proceeding with the steps to insure you are not violating any local,state,or federal laws or regulations.
Remember from the previous page how the credit bureaus identify you. The goal here is to create a new file, and the only way to do that is to have little or no matching value linked to your new TIN which will become a new credit file notice that the TIN is nine digits like the SS. Do not put your current address in the Address field of the SS-4 form! Use a mailing service which is perfectly legal since you are starting a new business and will be receiving mail at that location You should not use a company like Mail Boxes ETC..
Because they can be linked to you and that would be a match. You can use a secretarial service or rent office space for mail reasons, both are easy and inexpensive to setup.
Get a new telephone number, I suggest you rent a voice mail line for this purpose, as getting a new line in your home would be a match. Now that you have completed getting a new address and phone you can fill out the form SS-4 and send it in. Offer pros and cons are determined by our editorial team, based on independent research.
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You will be able to open your new credit file with an EIN. If you are opening a credit file for your business, be ready to furnish documents like copies of tax returns, copy of articles of incorporation, balance sheet or recent copies of profit and loss statement. The EIN should be specified on the application. Make sure on the new credit application you do not write the same address, contact details, and employer information that you had in the previous credit file.
The credit applications in which you put your EIN will be dispatched to credit reporting agencies. If the credit rating agency comes to know that you are trying to open another credit file, they will merge the file and you will have to continue to bear the brunt of a bad credit rating.
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