Olde Hornet
Well-Known Member
If you know someone talking about CPN, please share this with them, its illegal!
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But just a few months later, the FBI showed up at Swatisha’s office with an arrest warrant — and the threat of up to 30 years in federal prison.
CPNs exist in a legal gray area. While sellers claim they offer a valid way to rebuild your credit, as Swatisha found out, there is no such thing as a “legal CPN.”
Scammers target people struggling to repair their credit by promising to quickly erase bad credit and raise their scores. But if you’re looking to fix your credit, the last thing you need is to get scammed.
In this guide, we’ll explain the legal (and illegal) aspects of CPNs, how to identify other common credit repair scams, and what to do if you’ve already fallen victim to one.
But using anything other than your official SSN on an application — such as when applying for a credit card, taking out a personal loan, or filing your taxes — is fraud.
Anyone using a CPN in this way could be charged with multiple crimes, including identity theft and making false statements on a credit or loan application.
So, how do CPNs exist?
CPN sellers use a number of false, misleading, or questionable claims to make these numbers seem more legitimate than they actually are.
Most commonly, sellers quote the Privacy Act of 1974. As part of this Act, Americans could no longer be forced to give their SSNs to a third party, unless it was required by federal law (such as when applying for a passport). However, supplying your true SSN to lenders is required by law.
The bottom line: While it’s legal for CPNs to exist, it’s illegal to use them on any credit application or official document. If you’re using a CPN to apply for credit, you’re committing a crime.
The Truth About CPN Numbers (and Other Credit Repair Scams)
The Truth About CPN Numbers (and Other Credit Repair Scams) | Aura
If you’re trying to rebuild or repair your credit, the last thing you need is to get scammed. Learn how to spot illegal credit repair and CPN number scams.
www.aura.com
Can a CPN Number Really Fix Your Credit?
After feeling as though she’d exhausted all of her options to repair her poor credit history, Swatisha Keith bought a credit protection number (CPN) off of Craigslist [*]. The seller claimed it would give her a “new start” and was an easy — and legal — way to rebuild her credit.But just a few months later, the FBI showed up at Swatisha’s office with an arrest warrant — and the threat of up to 30 years in federal prison.
CPNs exist in a legal gray area. While sellers claim they offer a valid way to rebuild your credit, as Swatisha found out, there is no such thing as a “legal CPN.”
Scammers target people struggling to repair their credit by promising to quickly erase bad credit and raise their scores. But if you’re looking to fix your credit, the last thing you need is to get scammed.
In this guide, we’ll explain the legal (and illegal) aspects of CPNs, how to identify other common credit repair scams, and what to do if you’ve already fallen victim to one.
What Is a CPN Number? Is It Legal?
A credit protection number — also known as a credit privacy number or CPN — is a nine-digit number that scammers claim you can use in place of your Social Security number (SSN) on credit applications or with financial institutions. CPNs are also sometimes referred to as credit profile numbers or consumer profile numbers.But using anything other than your official SSN on an application — such as when applying for a credit card, taking out a personal loan, or filing your taxes — is fraud.
Anyone using a CPN in this way could be charged with multiple crimes, including identity theft and making false statements on a credit or loan application.
So, how do CPNs exist?
CPN sellers use a number of false, misleading, or questionable claims to make these numbers seem more legitimate than they actually are.
Most commonly, sellers quote the Privacy Act of 1974. As part of this Act, Americans could no longer be forced to give their SSNs to a third party, unless it was required by federal law (such as when applying for a passport). However, supplying your true SSN to lenders is required by law.
The bottom line: While it’s legal for CPNs to exist, it’s illegal to use them on any credit application or official document. If you’re using a CPN to apply for credit, you’re committing a crime.