Fixing Credit Reports – Is Creating a New Identity Legal

Fixing credit reports is what some companies do best by what I hear all day on the radio and while watching some TV.  Many options are legal, disputing validity, questioning the companies’ ability to collect and a few other tactics work because you have the law on your side.  Creating a new identity was a little risky for me.  I took the safe route on this one.  I get my thrills from roller coasters not jail bunk beds.

 

Fixing credit reports isn’t creating a new identity.  There’s some companies that claim you can create a new identity with a tax id number better know as EIN, legally.  Though EIN numbers are available it doesn’t open the doors to just forget about your social security number and what might be on it.  Creating a new identity might seem like a good idea except for the fact that it can create legal consequences for you.

 

I didn’t follow this option when I was looking to fix my credit for one reason.  I’ve never had legal problems and my credit problems weren’t a good enough reason to risk it.  By what I read it’s a Federal crime to lie on a credit or loan application, you can be prosecuted for mail or wire fraud for using either of those two means to apply for credit fraudulently.  Crazy at it seems, when they want to nail you they’ll use any of their tactics available.  Remember Capone?  Not murder, tax evasion.  Need I say more?

 

I stayed to the tried and true disputing of erroneous accounts and settling on debts I wasn’t able to remove or delete by any of the means I found on my credit repair manual.  Some of these dispute tactics are very advanced.  Re-aging issues, statute of limitations, checking companies licensing are all legal tactics I used to make progress while fixing my credit report.  You can go as far as demanding the collection companies provide proof they can collect from you and that they have proof you actually owe the debt.  The beauty is they have to use original documentation, not internal records.  That’s where you get them.

 

In my opinion, creating a new identity is to high a risk for me.  Not everybody has a daughter to think about but I intend to stick around.  Just in case, I’m keeping my identity.

Fix Credit Reports – Dispute Smart to Improve your Credit Score

What’s a dispute letter?  To fix credit reports its better to think outside of the box.  The reason so many say that credit repair and disputing doesn’t work anymore is that they keep on beating the dead horse.  Meaning they use the same old tired tactics that don’t get any results.  Denying isn’t disputing and that’s what many dispute letters do.  You have to take the law into your own hands.  Wait, let me rephrase that, before anyone goes a little nuts.  You have to use the laws that are in your hands.  That’s better.

 

There are laws that can help you fix credit reports without having to use old tactics that rely on just a delay of time.  That’s what the old tactics did.  They simple expected to have the creditor not comply within the response window and use that as a way to have the derogatory credit account removed.  They’re much faster at responding, some of you might have figured that out already.  That’s why the old dispute letters don’t work.  A smart dispute letter would address certain issues with the account and the collection company.  It would ask a specific question.  Ask for proof of the debt, accounting and perhaps proof of the company’s right to collect from you.  You see how it changes?

 

Another thing is violations to your rights.  I don’t fix credit reports for a living.  I learned all this from research and credit manuals.  I don’t need an expert to read something from a book to me.  I can do that myself and save 1,200 dollars.  The violation issues are usually re-aging of your debt.  By law they cant start the clock on you again.  If they do, they’re negatively affecting your credit reports for a longer period than allowed.  See where this is going?

 

One last thing on collections, it wont fix your credit reports to simply pay a collection.  It can actually do more damage than good.  Depending on how old the collection is it can bring the debt current and have a damaging impact on your credit.  To improve credit reports by paying of collections you have to settle and get a deletion letter.  That letter will have the account removed.  Otherwise, the credit report is simply updated as paid and continues to reflect a negative account.

 

That’s it remember to be smart and you can fix your credit reports.  Take the law and make it work for you.  They’re there to protect you.

More Fix Credit Articles

Credit Counseling For Credit Reports And Credit Repair Workbook.
A Hands On Guide To Building And Keeping Excellent Credit. Tons Of Little Known Info And Tips In A Workbook Format. Includes Three Excellent Bonuses: 1) Mortgage Ready Planner. 2) Give Yourself Credit. 3) Home Budget / Debt Management Workbook.
Credit Counseling For Credit Reports And Credit Repair Workbook.