Why Is Porsha/Porsche Belle/Bell Pushing Credit Privacy Numbers? 11/13/17

by **Ssmith** Tue Nov 14, 2017 9:12 am

Having good credit is important..... but when you have no money, How are you going to pay for what you just bought on credit?

But not to worry! Porsha/Porsche Belle/Bell is there to save the day! For just a small fee (lmao) she will promise to discharge your debt, clean up your credit so you can do it all over again. Of course this is just until she launches her WeThePeople Bank so you can all access your secret TD account and become gazillionaires! Woo-Hoo!!!

WARNING!!!! Before you send Porsha/Porsche Belle/Bell a penny, be sure you have a contract with her detailing what exactly she is going to do for you. You might also ask for her qualifications, e.g., schooling, how long she's been in the credit repair business, business license, etc.

Why Is Porsha/Porsche Belle/Bell Pushing Credit Privacy Numbers? 11/13/17 Porsha33

Why Is Porsha/Porsche Belle/Bell Pushing Credit Privacy Numbers? 11/13/17 Porsha33

Credit Repair Scams

You've probably seen ads from companies promising a “new credit identity” — that is, a fresh start for your credit history. It may seem like just the thing you need to get your credit back on track, but it’s actually a scam. These companies often sell Social Security numbers illegally. If you use a number other than your own to apply for credit, not only won’t you get credit, but you also could face fines or prison.

If your credit is less than golden, there are steps you can take to repair it on your own, at no cost. Only time and a personal debt repayment plan will improve your credit.

Signs of a Credit Repair Scam
Ads That Promise a "New Credit Identity"
Your Credit Rights
Report Credit Repair Fraud

Signs of a Credit Repair Scam

You’ll know you’re encountering credit repair fraud if a company:

insists you pay them before they do any work on your behalf
tells you not to contact the credit reporting companies directly
tells you to dispute information in your credit report — even if you know it's accurate
tells you to give false information on your applications for credit or a loan
doesn’t explain your legal rights when they tell you what they can do for you

Ads That Promise a "New Credit Identity"

Companies promising a “new credit identity” say they can help you hide bad credit history or bankruptcy for a fee. If you pay them, these companies will provide you with a nine-digit number that looks like a Social Security number. They may call it a CPN — a credit profile number or a credit privacy number. Or, they may direct you to apply for an EIN — an Employer Identification Number — from the Internal Revenue Service (IRS). EIN’s are legitimate numbers, typically used by businesses to report financial information to the IRS and Social Security Administration — but an EIN is not a substitute for your Social Security number.

The credit repair companies may tell you to apply for credit using the CPN or EIN, rather than your own Social Security number. And they may lie and tell you that this process is legal. But it's a scam. These companies may be selling stolen Social Security numbers, often those taken from children. By using a stolen number as your own, the con artists will have involved you in identity theft.

If you follow a credit repair company’s advice and commit fraud, you might find yourself in legal trouble. It’s a federal crime to:

lie on a credit or loan application
misrepresent your Social Security number
obtain an EIN from the IRS under false pretenses

The bottom line is that if you use the number they sell you, you could face fines or time in prison.

Your Credit Rights

The Credit Repair Organization Act (CROA) makes it illegal for credit repair companies to lie about what they can do for you, and to charge you before they've performed their services. This law, which is enforced by the Federal Trade Commission, requires credit repair companies to explain:

your legal rights in a written contract that also details the services they'll perform
your three day right to cancel without any charge
how long it will take to get results
the total cost you will pay
any guarantees

What if a credit repair company you hired doesn't live up to its promises? You have some options.

You can sue them in federal court for your actual losses or for what you paid them, whichever is more
You can seek punitive damages — money to punish the company for violating the law
You can join other people in a class action lawsuit against the company, and if you win, the company has to pay your attorney's fees

Report Credit Repair Fraud

State Attorneys General

Many states also have laws regulating credit repair companies. If you have a problem with a credit repair company, report it to your local consumer affairs office or to your state Attorney General (AG).

Federal Trade Commission

You also can file a complaint with the Federal Trade Commission. Although the FTC can't resolve individual credit disputes, it can take action against a company if there's a pattern of possible law violations. File your complaint online at ftc.gov/complaint or call 1-877-FTC-HELP.

https://www.consumer.ftc.gov/articles/0225-credit-repair-scams

by **Ssmith** Tue Nov 14, 2017 9:37 am

by Eyes Wide Shut Thu Nov 16, 2017 7:48 pm

So now she has jumped on the credit scam until that blows up in her face. Then up will be the go scam me campaign to start an credit union/business or some bullshit.

by **Kevind53** Thu Nov 16, 2017 8:31 pm

Your One-Way Ticket to Jail, the Credit Privacy Number

https://www.creditsesame.com/blog/credit/one-way-ticket-jail-credit-privacy-number/

An excerpt:

According to the Federal Trade Commission, lying on a credit application and misrepresenting your Social Security number are both federal crimes. Even if you obtain a CPN from a company that looks 100 percent legit, you’re still breaking the law if you plug that into the Social Security box on a credit application. Bascially, you’re lying by omission by substituting a credit privacy number for your real information.
What’s worse, that credit privacy number you’ve paid so much money for could be stolen. Some credit repair companies are actually just recycling Social Security numbers that have been issued to other people and passing them off as credit privacy numbers to unsuspecting consumers. According to a report from the Federal Reserve, credit repair scammers will swipe Social Security numbers belonging to children, seniors and people who are incarcerated just for this purpose.
Using someone else’s Social Security number to get credit in your name is also a federal crime. Currently, the max penalty for identity theft is 15 years in prison, not to mention having to pay some substantial fines. That’s on top of any punishment you might get at the state level if you’re convicted of identity theft. When you put it in that perspective, it’s pretty easy to see why credit privacy numbers are more trouble than they’re worth.

by Eyes Wide Shut Thu Nov 16, 2017 9:27 pm

Time to start reporting Porsha/Porsche/LaPorsha Bell/Belle. RTN.fraud@ny.frb.org.

Why Is Porsha/Porsche Belle/Bell Pushing Credit Privacy Numbers? 11/13/17