Introduction to CPN Scams
Some companies will offer you a CPN number claiming that a CPN number can be used as a substitute for your social security number. However, shortly after you use a CPN number for filing taxes or obtaining personal credit, you may end up in jail or prison.
A Credit Privacy Number and Committing Fraud
The fact that you didn’t intend to commit fraudulent activity doesn’t mean you can avoid a conviction for wire fraud. You may feel like you can’t get credit without a CPN, but people usually use CPNs to file false tax returns to claim a refund. They often use CPNs to defraud banks and commit identity theft. Law enforcement usually charges you with wire fraud or attempted wire fraud.
Nothing is worse than time in a federal prison where sentences can be long and hard. Prison inmates often use a CPN to scam banks, individuals, and the IRS. The different and creative schemes may look innocent to you. You may only be trying to apply for a car loan or a mortgage.
However, using a false social security number often looks like IRS or bank fraud to a federal judge. Anytime you lie under oath or in a financial application, you can face charges which will cause you to do the same time as a robbery.
What is the CPN Number?
A CPN is often called a credit protection number. A CPN number looks like a social security administration number, but the social security administration office did not issue it. Instead, it was made up.
Many think using a CPN can help them recover from a bad credit report and poor credit. It doesn’t. What people are doing is they are attempting to create a fake identity.
Often, the business that has a website and sells these CPNs are telling people to make a false credit identity with false addresses and employers. The new credit identity has no credit history. It has no credit report from the credit bureaus to verify the necessary information for a credit or loan application.
How to Obtain a CPN Number Legally?
Your Social Security number SSN was assigned to you based on your state. For Kentucky, the social security numbers starting with a number in the 400 range. CPNs are a nine-digit number that attempts to look like social security numbers. They cannot be used to obtain credit score, for social security administration offices, or for IRS purposes. If you use them, the use is fraudulent.
If you accidentally use a CPN with the same number as someone else, it would often be considered identity theft. Using a CPN on a tax return would probably be seen as an internal revenue service (IRS) scam.
Some companies charge thousands of dollars for random numbers with no verification method or useable for the purpose you need. It should not be used for credit applications or internal revenue purposes.
Can a CPN Number Help Bad Credit Scores?
NO. What helps your bad credit score is payment history with on-time payments. Also, a proper credit utilization ratio where you don’t max out your credit cards helps. If you file bankruptcy, your accounts with a bad credit history are replaced with notations that the account is closed. You can begin rebuilding your credit report by paying debt on time.
Are CPN Numbers Legitimate?
Those nine-digit numbers are often marketed as being verified or fully merged. Being fully tri-merged means that all three credit bureaus have listed this as a valid social security number and identity.
Most credit card companies and government officials can easily spot them, and credit privacy numbers are ineffective in getting credit applications approved.
CPN Scams as a Social Security Number
If they claim this as a new SSN social security number, it isn’t. The same CPN scam business which tells you to provide false information doesn’t mind lying to you. They often claim you can use it as a second social security number. Usually, they charge you for what they claim is a verified new SSN. It is a made-up nine-digit number that criminals attempt to use to defraud credit card companies.
However, the social security administration office states that these are not social security numbers you can use. The federal trade commission has said the same information warning people that these are scams. There are no legal CPN numbers. There are illegal companies that sell CPNs. These credit profile numbers and fake credit applications will get you in trouble.
Building Credit Scores Again Legally
We have a detailed webpage devoted to getting your credit score back to 725 after bankruptcy. Most people who file for bankruptcy already have a long credit history, bad credit, or poor credit. There are several factors which will lower or increase your things which will lower or increase your FICO score.
Credit History
A long history of on-time payments will improve your credit report. Your credit report is based on your payment history. If you recently had problems, returning to paying on the due date and paying a loan in full will improve your credit score.
Multiple Credit Applications
If you apply for credit too often, it lowers your credit score. You must apply for credit when you want to re-establish your credit. But there is a credit utilization ratio that tracks how often you apply for credit and how much of your credit you use.
Lenders Which are More Likely to Approve First-Time Borrowers
Sometimes you can get a loan based on being truthful about your need for a loan and explaining how you will pay it back. Small banks, finance companies, and credit unions are more likely to lend to the person instead of the credit score.
Lenders Will Approve Loans If Your Problems Are in The Past
If you are getting turned down, use a CPN or credit profile number may be tempting, but you can also get flagged for impersonation and identity theft. If you commit wire fraud, a federal crime, your credit score will be the least of your problems.
Getting caught using a CPN will often flag the person as a criminal and prevent you from getting loans. Some lenders will lend to the honest but unfortunate debtor who intends to repay and has put problems behind them.
How to Avoid CPN Number Scams?
The best way to avoid these CPN number scams is to simply not use them. When someone promises you something too good to be true, it usually is too good to be true. Applying for loans under false pretences is a crime and fraud. The fact that someone else sold you on doing it does not mean you will not do prison time for theft.
They are promising you that you can commit fraud to escape your past and that it will work. They often encourage you not just to use a fake social security number but also fake your residence, age, employee identification number, and work history.
Essentially, individuals commit fraud by faking a new credit file using what they may call a credit privacy number and a fake credit profile, which is often easily spotted.
People rarely use these numbers for credit privacy. Instead, they use them for credit applications for personal loans. There are proper methods for rebuilding credit. You want some source of available credit in rebuilding your credit report. This requires using your personal SSN instead of living a lie.
Rebuilding your credit may require a comaker or first having a secured card to obtain a loan. Bankruptcy can also help you do a credit reset so you no longer owe debts and eliminate current negative reporting. You should never use a CPN or credit privacy number in a credit application.
Contact Professional Bankruptcy Attorneys in Louisville, Kentucky, for Free Consultation
Bankruptcy will often help reset your credit because after you file for bankruptcy, creditors report your debts as no longer in default. Instead, they report them as accounts closed. A legal professional can advise you on state and federal law. Your financial goals are essential.
Resources for Bankruptcy
Louisville, Kentucky Bankruptcy Forms
Rebuilding Credit after Bankruptcy
Credit Repair after Bankruptcy
Credit after Foreclosure Bankruptcy
Bankruptcy Time Limits and Filing Periods
If you are facing bankruptcy, don’t delay because timing is essential. I am here to help you. So, contact my office immediately to start the conversation—Nick C. Thompson, Bankruptcy Lawyer: 502-625-0905.
