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Is it Legal?


FBI: CPN NUMBER & SCN NUMBER

In the FBI Website (FBI.GOV) there is info about CPN Numbers that will tell you a CPN IS LEGAL. “Credit Privacy Numbers(CPNs) are nine-digit file numbers that follow the same algorithm as Social Security Numbers(SSNs) Currently, federal law allows individuals to legally use CPNs for financial reporting purposes and protect those individuals who do not wish to disclose their SSN. Individuals who acquire CPNs are completely responsible for any debt they incur using this number.”
http://www.fbi.gov/stats-services/publications/mortgage-fraud-2008


FEDERAL LAW: CPN NUMBER & SCN NUMBER

Remember the SCN & CPN is solely for credit purposes only. Currently, federal law allows individuals to legally use CPNs for financial reporting purposes and protect those individuals who do not wish to disclose their SSN. Individuals who acquire CPNs are completely responsible for any debt they incur using this number.” Federal Law allows a person to legally utilize a private ID number for financial reporting intentions instead of his social security number.

Credit Bureaus aren’t legally required to see the SSN of a person. One has the right to keep his SSN private and not rebuffed due to his refusal. Credit Bureaus aren’t government agencies, so the applicant does not have to give them his SSN.

SO this means that those who do not want to disclose their personal information, except when they’re required to do so, are protected by federal law.

RULES OF THE ROAD

Don't mix your old information and new information used with creditors, cable, utilities, bank, etc. When using CPN OR SCN Ur new credit profile credit information should be utilized the same way every time you apply for credit.

Don't after you received your new CPN OR SCN and get over excited and apply for everything you can think of applying for. Building credit takes time. Plus 10% of your Credit Score is based on the number of inquiries on your credit file. Apply for one credit card at a time. When you get one stop applying. Receive the card, use it, and pay the bill. DO NOT USE MORE THAN 30% of the available credit. Do this for two billing cycles. NOW apply for credit card number two.

Don't use the same old credit companies or references you have used in the past on any application. Don't ever use any old information when utilizing your new credit profile. This could possibly merge your credit file with your social security and it is not reversible. Use only the information that you are provided on your reminder card(your new credit profile information) when applying for credit.

When it comes to the FICO score, any new credit file which is automatically created by the bureaus computer will be blank and you will need to reestablish credit to it by applying for a credit card or other credit lines under the law.

REMEMBER..

Building credit the right way is hard work, so do it right…slowly and over time. Your CPN can be offered in place of your Social Security number. THIS IS NOT A SECOND SOCIAL SECURITY NUMBER. YOU ARE LEGALLY RESPONSIBLE FOR ANY MISUSE OF YOUR CPN. It will not replace your current social security. Your CPN will be assigned to you to establish credit only.

You will continue to use your Social Security number for employment taxes state benefits and for your driver’s license. Additionally, you are still liable for any debts you incurred on your Social Security Number.

YOU ARE RESPONSIBLE FOR ANY AGREEMENTS YOU MAKE USING YOUR CPN





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