Creating A Completely New Credit
The most questionable form of credit repair
is File Segregation. It completely gets around the credit reporting
bureaus because it creates a new credit file with a clean slate.
It is perhaps the only 100% effective method of erasing extremely
bad credit overnight.
This method first came to light about ten
years ago when a couple of credit repair specialists found a
hole in the identification system used by the major credit bureaus.
They discovered that some of their clients
had more than one credit file. It just so happened that there
are many more credit files at the bureau than there are consumers.
This bit of information brought them to the realization that
there was a weak link in the file identification system.
They learned the most effective methods to
create these new files. These methods include, changing your
name, changing your address, creating a new social security number
or transposing the numbers of your current number. The process
is easy to do.
Is It Illegal?
These credit repair specialists believed that
creating more than one file was not an illegal act and this may
be true. Creating a new credit file becomes illegal when it is
used to commit fraud or break laws. i.e. applying for a loan
under false pretenses.
So they started creating new files for consumers
at $3,000-4,000 each. This gave their clients the ability to
"start over." Since then, this method has been picked
up by many, many credit repair agencies. It is simple to do and
they can charge big dollars for it.
I know of at least 25 web pages that will
perform this operation for you for a price. I strongly suggest that you stay away from them like
Your Obligations Don't Go Away!
Creating a new file does not erase your previous
debt or obligations. They are just stored in an alternate place
in the credit bureau.
The Federal Trade Commission (FTC) published
a bulletin warning consumers to be aware of unscrupulous credit
repair companies that offer to create a new file. Some of these
companies suggest that you use a EIN (Employer Identification
Number) in place of your Social Security Number. They have the
same amount of digits and the purpose is to create a new credit
The FTC sayes, it is a
federal crime to make any false statements in a loan or credit
application. It is a federal crime to misrepresent your Social
Security Number. It is a federal crime to obtain a EIN from the
IRS under false pretenses.
You could be charged with mail or wire fraud
if you use the mail or telephone to apply for credit and provide
false information. You may guilty of civil fraud under many state
People who use an EIN in place of the Social
Security Number, for the purpose of creating a new credit file,
could be criminally liable for falsifying tax records. Credit
repair agencies who promote this program could be liable for
participating to defraud the government.
Yes, file segregation works... but I've also
been told that robbing banks can make you lots of money.
Well... What Does Work?
That subject is what my book, "60
Day Guaranteed Credit Repair!" is all about.
Here Are Some Of The Credit Secrets You Will Learn...
How you can use our Simple 3 Step Program to quickly and easily clean the credit
problems you have with retail stores, major credit cards, car
loans, mortgages and gas credit cards.
How to erase your bad
credit with one easy letter even
if you've tried before and failed. It's easy if you know the secret to wording your
letters. We give you the pre-written letters, word-for-word.
(All you have to do is highlight the letters, copy them, and
paste them into your word processor.)
How you can get a new
mortgage for a home with little or no down payment... regardless of your credit history.
How to erase all the negative
information from your credit file... no matter how bad it is.
It Does Work...
Click here to see proof.
And if that doesn't convince you, read my guarantee below.
But it doesn't cost $3000... It doesn't cost
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If you are not happy with this guidebook for
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Still Not Certain That The
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