Blogs

A lot of people find it uncomfortable to give out their own social security number to financial institutions. Mostly, this concern arises from the fear of becoming the victim of stolen social security numbers or identity theft. At times, the Social Security Administration can even leave you more confused than ever after asking for help with your credit profile.

A lot of people have come across the term Credit Privacy Number (CPN). If you have not stumbled on this term yet, let us discuss it right now. This discussion will save you from future hassles. So, let us start with – Whats a CPN?

What Is A CPN Number?

Credit Privacy Number (CPN) refers to a person’s credit file. Just like a social security number, this nine-digit number is likely one of the reasons their credit repair scams become successful in committing fraud and identity theft. Many begin their false deceptions to sell CPN as the replacement for one’s social security number.

In times like these, having a CPN number might seem like a new beginning. Particularly when the companies claim to help settle debts with credit card companies, help your credit records, and enhance your bad credit score. You might even hear of celebrities, individuals, and government officials who use a CPN rather than their own social security number.

When people influence you into believing that all your financial issues can be resolved completely by using a CPN number, it might become easier for you to overlook the alarming signs. You might even forget about what does CPN mean or if it is even legal. Without thinking twice about it, you will dive head first to grab the opportunity. A lot of individuals jump on this advancement in a heartbeat, particularly when they have a bad credit history. They might even consider it if they have been poorly handling their bank accounts in the past.

Where To Get A CPN Number?

As a matter of fact, CPNs are not at all a legal means of identification or credit. So, there is no legal way to use them. If you come across any ads that market these numbers as a way to repair your credit score, know that it is all a scam. There are plenty of law-abiding credit repair companies that guide their clients on the right way to repair their credit. If you are looking to find ways to repair your scores, then give Gifted Financial Services a chance. They offer genuine and authentic ways to keep your scores high. However, you must know that credit repair does not happen overnight; it might take some time.

While we are discussing CPN meaning, it would be best if you know that there is no government entity that issues a credit privacy number. Despite this, there are some illegal sellers of these numbers who claim to have attorneys to get the paperwork done on your behalf. But in fact, no reputable attorney would ever issue a CPN.

How To Obtain A CPN Number?

If you are still wondering how to get CPN, we want to reiterate that it is probably not a great idea and that we strictly do not recommend it. This is because these numbers attempt to look exactly like authentic social security numbers. However, you cannot use them legally for IRS documents, for social security documents, or even to get a free credit report.

Using these numbers might be considered a form of identity theft if you unknowingly use the same number as another person. Additionally, using them on tax forms is no less than fraud. So, in order to get a CPN number, you have two options.

1. A decent algorithm generates a random nine-digit number. Once it is done, the number is run through a huge database to find the ones that might serve as real SSNs.
2. You can steal SSNs from the vulnerable, i.e., the deceased, the elderly, or even the children. If the scammers promise to offer you a credit score, it means that the CPN they are offering you is fake.

Are CPNs Legal?

No government entity recognizes these numbers. Moreover, the Federal Trade Commission states that CPNs do not exist. So, it is safe to say that CPNs are not legal. Using them can have severe consequences. A bunch of companies say that a CPN is issued by the government. Nevertheless, it is a complete lie. We have just told you the two options you have to obtain a CPN number.

According to federal law, individuals must not use CPNs on any credit application. If they do so, they would be sentenced to jail for their misconduct. This sort of action is said to be federal fraud and carries a massive 30-year prison term, fines, and fees. If you use CPN on credit application instead of using your real SSN, then you might face to face two separate charges, i.e.:

1. Federal crime
2. On top of the federal crime, there might be a separate fine at the state level. It will put you in a whole different world of trouble

Companies who use the CPN as a miracle number, which solves all your credit issues, are only out to make some $$$. Many scam companies use the CPN as bait for getting a car or house. Dealing with the repercussions of bad credit is difficult enough. So, never risk state or federal action by using a deceptive CPN number. It is so not worth it.

How to Avoid CPN Scams?

It is extremely beneficial for everyone to understand how they can steer clear of any scams related to CPN number. Bad marks against your credit or your credit card companies’ debt might nudge you to consider working with a credit repair company. But beware, you might have to be on your toes all the time. It would be best if you learn how to protect yourself against fraudulent credit repair companies’ scams and identity theft. Here are some signs you need to be careful with a credit repair company.

Requests You To Participate In Making False Statements

Using CPN loans to commit fraud and use someone else’s stolen SSN as your own. Moreover, Federal Law discourages falsifying or using information on loan applications or credit. So, playing into these scams might land you with a federal criminal charge.

Payment Upfront

Ninety-nine times out of a hundred, genuine credit repair companies will never ask you to pay hefty amounts of money upfront. Furthermore, any company that is not able to display any past payment transaction for your history also has no business for you to dive in.

Failure To Explain Rights

Credit repair companies that are authentic will make you explain your rights at the very start of the conversation. By doing so, they help you gain insights into your credit identity security as well as the security of the company’s credit applications.

Threatens With Consequences

Scaring or threatening someone is a typical move to manipulate people. This sort of jab at someone might make them lose more than just lost money. When scammers feel they can manipulate you with threats, they are also likely to take your very own SSN for a separate credit attack.

Summing It All Up!

And that is it! Now that you are totally aware of what is a CPN we need you to understand that it is true that bad credit scores can have bigger impacts on life. However, opting to get them repaired through scams and fraud is only going to help you in a shorter period. Remember, these things come with far greater consequences, and they are not just worth it. CPNs can cause more harm than good. Understanding the various ways to protect yourself is going to help you from getting your identity stolen. If you really wish to prepare your credit file and boost your credit score, then why not do it in a legitimate way? You can ask experts from Gifted Financial Services to guide you. The end of this journey will be a perfect score that you will be generally proud of.