CPN's
Before we start, there are a lot of uneducated nay-sayers that will insist that Credit Privacy Numbers(CPN) or Secondary Credit Numbers(SCN) are 100% illegal....WRONG they are 100% legal if used properly for credit purposes only! How you intend to use it determines it's legal vs. illegal actions. It is used to give very important people in the political, government and corporate world total protection of their real personal information by keeping it in total privacy. What is illegal is when you intend to cheat or defraud any creditor. *
Legality of the CPN:
Presently, federal law allows the ability for someone to legally use a private ID # for financial reporting purposes instead of a Social Security Number. Title 5, Section 7 of Publication Law 93-579 of Government Organization and Employees Act:
...(a) (1) It shall be unlawful for any Federal, State or Local Government
Agency to deny any individual any right, benefit, or privilege provided by
law because of such individual's refusal to disclose his or her's Social
Security Account Number.
The law states that No federal, state, or local government agency may deny you any right, privilege or benefit due to your refusal to provide your SS # for any other reason than producing money for retirement account with the Social Security Administration, the IRS and your employer today. Credit Bureaus are not legally allowed to "require" your Social Security Number. In our country's present credit reporting system a person may be assumed guilty and then must expend a great deal of time and resources to prove his or her innocence. Additionally, once a negative item is in a credit file it may remain long past the 7 year time period most people believe is used. Additionally, a misreported item can show up in a credit report multiple times.
When it comes to credit, banking and loans, there are two things you must know. The first relates to the law pertaining to the usage of your social security number as an identification tool. The second, credit bureaus are private companies and are not affiliated with the government in any way, whatsoever. Although, the credit bureaus would like you to think otherwise.
---What all this means is Federal Law protects those who do not wish to disclose their personal information (SS#) except when required to do so. All that to say: Instead of a Social Security Number, with the right planning, you now have the opportunity to establish a Credit Privacy Number (CPN), as it is your right to have one.
CPN Scams....Identity Theft is this nations fastest growing criminal offense.
Please be aware that there are many CPN scams going around. Anything from re-issueing a CPN number to more than one person to taking money and giving you someone else's social security number. It is for this reason that an SSN Validator check and an Equifax First Search check is completed on all numbers before they are issued. Many companies and individuals do not perform these searches/checks. A CPN number is not a social security number but CPN's are legal as long as they are used in the proper manner...see our CPN page
CPNStore4You, is aware that many people have bad intentions and for every "Credit Guy" out there, are 100's of scammers perpitrating fraud on unsuspecting buyers looking to better their credit situation. At CPNStore4You, we are committed to helping clean up our industry as these scammers give the entire Credit Repair & Restoration Community a bad name!
