Will a Secondary Credit Number Give Me a New Credit History?

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If you, like many other Americans today, have found yourself with a less-than-desirable credit score, you most likely feel frustrated and powerless when it comes to getting a loan. Buying a home, a new car, or even a home appliance can prove next to impossible with a bad credit score. There are loan companies that will lend to borrowers with low credit scores, but you’ve probably already realized that they’ll charge you an astronomical interest rate.

You may find yourself wondering if any other options exist: is there a way to “get around” the fact that you have a low credit score? It can be difficult to accept your limited sub-standard loan options, especially if you are currently in a good place financially and your credit score just hasn’t caught up yet.

If you’ve found yourself in this position, beware of companies who will gladly capitalize on your desire to borrow money with bad credit. Businesses like this may offer you something called a “Secondary Credit Number” or a “Credit Privacy Number.” They’ll be sure to tell you that their strategies are legal, and that you can use this new number (for which they will charge you a hefty flat fee) to apply for new lines of credit without using your own personal information.

You may be wondering – “How can I apply for a loan without giving any of my real personal information?” The answer is simple: you can’t, unless you’re ok with committing fraud.

These shady credit repair companies will tell you to use the “Secondary Credit Number” instead of your Social Security Number on loan applications, in order to keep lenders from seeing your actual credit score. By using verbal trickery or simple omission, they’ll fail to reveal that your “Secondary Credit Number” is actually a fraudulent Social Security Number. Sometimes they are numbers taken from children or people who are deceased.

Rather than doing business with scammers who only have fraudulent practices to share with you, there are legal steps you can take to improve your real credit score. It’s important to realize that it does take some time to lawfully clean up a really bad financial past. However, if you’re patient and diligent about making the right changes, your credit score can improve significantly in 6 months to a year.

By working with a legitimate credit repair specialist who is certified and experienced with debt negotiation techniques, you will guarantee yourself aboveboard results that will last a lifetime. Steer far away from any “debt settlement” or “credit repair” companies that are not licensed by the State of New Jersey. If they are not licensed, they are not abiding by New Jersey laws.

A New Jersey bankruptcy attorney who specializes in credit repair will be able to help you attain your goals while staying on the right side of the law. Some attorneys offer free office or phone consultations so they can assess your financial circumstances and lay out a plan to raise your credit score. Although you may be wary of attorney’s fees, your return on investing in the right person will give you an exceptional pay-off that will be well worth every penny.

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2 Responses to Will a Secondary Credit Number Give Me a New Credit History?

  1. Pingback: My SS Number was Compromised; What are my Options? | Veitengruber Law

  2. Pingback: How to Recognize a Credit Repair Scam | Veitengruber Law

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