Selling CPNs and Credit Privacy Numbers has become more prevalent in recent years, particularly touting it as a fast fix for repairing or increasing one's credit score. Many consumers, especially those who have bad credit, have been swayed into purchasing what they call a "clean slate" because of being able to erase negative marks in their reports.
However, buying a CPN is not relatively as easy as these websites make it seem; that is why this blog is going to discuss whether you should trust websites that sell and buy CPN numbers and what dangers exist with it.
What Is A CPN Number?
A Credit Privacy Number, or CPN, is essentially a nine-digit number that is sort of like an SSN, which has been marketed as a way to create a new credit identity. CPNs are sold to people who have run into economic trouble or those who want to hide previous mistakes in their credit history. The claim is that you can use the CPN in lieu of your SSN on credit applications, which then enables the user to build a new credit history apart from the old.
The Legality of CPN Numbers Understanding
It needs to be pointed out that using CPNs instead of your SSN is very controversial and even illegal in some instances. The Federal Trade Commission and other regulatory agencies keep warning consumers about the risks of purchasing and using a CPN.
Fraudulent Use of CPNs: Many online sold CPNs are simply stolen Social Security numbers or fabricated ones. Using a stolen SSN or an illegal number is identity theft and credit fraud, which are federal crimes.
Falsifying Credit Applications: Using a CPN to get credit is a falsification. Lenders rely on the actual and accurate information given by the borrowers. It is considered fraud if intentionally done to obtain credit. If you get caught, it can negatively impact your credit and your legal position for an extended period.
No Legal Basis for CPNs: A valid CPN is not a legally recognized tool in credit reporting. While Social Security Numbers are issued and monitored by the government, CPNs have never been identified, either by the government or by the major credit bureaus. So, trying to establish credit or hide adverse marks by using them is ineffectual and illegal.
The Dangers of Trusting CPN Websites
Since CPN numbers are illegal, purchasing and using them carries a number of significant dangers. Here's why trusting websites that sell CPN numbers is a risk:
Scams and Frauds Sellers: Many websites selling CPN numbers are nothing but scams. The sellers promise you an easy solution to your credit problems by selling CPNs for a specific price.
Identity Theft: Because so many CPNs are just stolen Social Security Numbers, identity theft of the most heinous order is possible. In fact, some sellers will give the purchaser an SSN belonging to a child or someone else.
Long-term financial consequences: If you do successfully procure a legitimate-sounding CPN from an online website, you will regret having done so. Soon enough, creditors and lenders become aware that a CPN instead of an actual SSN is being used.
Criminal Prosecution: The FBI and other authorities monitor cases involving identity theft and credit fraud.
How to Spot a Fraudulent CPN Website
Given the predominance of scams in the CPN market, there is a critical need to know how to protect yourself. Check if:
- The website is ambiguous about how the CPNs work, where they come from, or how they can help you; it is probably a scam.
- Any company offering a CPN that promises guaranteed results, such as instant credit approval or removal of negative marks from your credit report, is almost certainly lying. Search for independent reviews or feedback about the website. If there is no independent review, or such reviews seem to be plagiarized or extraordinarily optimistic and unrealistic, it may be another way to commit a scam.
- Look for fraud-typical warning signs. If the website insists on large advance payments without any kind of explanation of the service to be rendered or requests your personal information, including your SSN or your bank data, then watch out.
What Are Legal Alternatives for Improving Credit?
Rather than buying a CPN and engaging in fraudulent illegal activities, there exist legal alternatives to help improve one's credit score and gain stability in finances.
- Credit Counseling
- Dispute Errors on Your Credit Report
- Pay down Debts
- Secured Credit Cards
Conclusion
The concept behind sell or buy CPN is to escape lousy credit, but in practical reality, it's much more complex and riskier. Sites selling CPN numbers often engage in fraudulent activity, resulting in identity theft, legal consequences, and long-term financial harm from using these numbers.
Instead of taking shortcuts, learn the legitimate ways to maintain good credit and seek professionals like Shape My Score, who may help you walk through the process. Protect your financial future by learning everything about credit and making responsible decisions.
Comments (0)