What you need to know about Credit Privacy Numbers.
A credit privacy number or CPN was created to provide a number that could be used INSTEAD of a social security number to high profile people like senators or celebrities. They are available to regular consumers but most people won' need them.
The latest scam making the rounds is that a CPN can ERASE bad credit! It doesn't do a thing for your credit since its is used INSTEAD of your social security number. So it doesn't make it any better or any worse!
Whats worse is that most of these companies / individuals offering CPNs are charging huge amounts for a free service! While it is advisable that if you find that you need a CPN for privacy reasons, you should consult a lawyer. Thats not free, but the actual CPN is free from the Social security administration, and you can apply for one on your own if you want to!
What makes this scam is WHERE some of these companies get the numbers! Some are actual social security numbers belonging to children or the elderly. People not actively looking for credit so they won't notice when someone starts using their SSN. Thats fraud! If you want to read more about CPNs, please check out my article - Credit Privacy Numbers - DO NOT Erase Bad Credit