Consumer Credit Directory – credit application

www.CreditRepairPublishing.com NEW CREDIT REPORT The Truth About Creating a New Credit File. Brouight to you by www.creditsecretsbible.com New Credit File in 24hrs? Solve all your bad credit problems? 100% Legal and backed by the federal Goverment? Too good to be true? You’re right. It is too good to be true. But these types of ads are appearing again even though it’s been 8 years since the FTC launched “Operation New ID – Bad Idea!” over 8 years ago… Operation targeted and took down over 50 credit repair companies. The con was simple.. The companies targeted consumers with bad credit and offered to create a new credit file for them by using an Employer Identification Number (EIN) or Taxpayer Identification Number (TIN) for their Social Security Number (SSN) along with a new address, new previous address and phone number etc. EIN’s and TIN’s were obtained from the IRS with form SS-4. The consumer would then apply for credit with this false information and trick the credit bureaus into creating a new credit report or new credit file. This was actually illegal since lying on a credit application is credit fraud. Some privacy experts will argue this tactic as being legal claiming credit bureaus are on shaky ground asking for your SSN. However, the Federal Trade Commissions (FTC) actions were NOT up for debate! Companies were claiming this was legal when it was a direct violation of the truth in lending act (TILA). Companies were turning consumers into felons claiming this …

Frances