What Does The Social Security Administration Have To Do With Credit Reporting?

Question

Every time I'm asked for my Social Security Number for something that doesn't relate to Social Security or taxation, I either refuse to give it or make a number up. Now, I'm fighting with my mortgage loan agent because my credit report has six different Social Security numbers listed and none of them are my real one. He wants a copy of my original SS card to prove my real number, but he can't explain to me how buying a house ties in with Social Security? On my card it states "not to be used for identification" but that's what they're apparently trying to do. Can anyone shed some light on this subject?

Answer 1

It doesn't tie directly into Social Security in terms of any money you might receive once you retire, but your Social Security Number is a government issued ID that is your unique identifier, and a much more solid form of identification than simply your name and address because each one is unique. Your SSN is what most colleges and universities used to use as student identification numbers for that reason, until it became so easy for people to use a person's SSN for identity theft, damaging personal information, etc. It can't be used for identification on its own, because it is not a picture ID, and it could really cause a LOT of problems if it were accepted on its own as solid proof of identification. What I don't understand is how you have gotten any credit with your method, because generally speaking, if the social security number you provide does not match the information that a creditor gets when they run your credit before granting new credit, they won't issue the credit, at least not without verifying the correct (and matching) social security number.

Answer 2

Your social security number is the only way to specifically indentify you as an individual with credit reporting. Think about how many Joe Smiths there are in the US....How you pay your bills directly impacts what rates the lender will charge and/or if they will approve the loan.

You need to read the section on the 3rd page of the mortgage application. It is a federal crime to put false information on a mortgage application. If the lender questions your social security number then they should ask for the copy of the card to verify your specific credit history. Otherwise they can't make a sound credit decision.

It boils down to following the system or not getting a loan. That simple.

Answer 3

First of all, we are required by the Patriot Act to verify the identity of the person borrowing money. We usually ask for a goverment issued photo id and a SS card. Also, because you have so many different SS numbers in your credit file, the underwriter is required to verify your actual number. Please stop making numbers up. You could be accidentally using someone else's SSN and that will mess up their credit reports.

Answer 4

I recommend that the top shrink for contributions be accomplished away with, and that the optimal payouts in retirement nevertheless stay as they are, adjusted for inflation. Social safety isn't a "supply away" application yet one which all of us make contributions to love a reductions plan, and could be risk-free against different makes use of by using the government. Do you compromise or disagree and why? in case you're so aggravating approximately it then why do no longer you; first placed it back into the indoors maximum sector and make to have been no can take out funds from it for his or her very own interest, 2d pay back each penny you have borrowed from the two Social safety and Medicare, third take the unlawful immigrants off of it and people who come over right here yet under no circumstances paid a penny to it, and ultimately have it an identical for each individual; in different words government officers are to take area in it and in the event that they choose something greater they do it on their very own without the tax payers investment it?yet, the economic stytem feeding the imbalances had under no circumstances been particularly replaced. They, a team of pupils, reported that each physique expenses of interest would be 3% or much less for each individual to alter into rich if needed (that would desire to be genuine additionally to taces). the wonderful economic subject would be, they suggested, while there have been no expenses of interest. Why no longer attempt this answer? the rich would nevertheless be rich. My question is: while soial safety will become a topic linked to federal charges, why no longer artwork with a balanced or benefit budget and spend no greater advantageous than is provided in, as any kin has to attempt for? Why no longer ban all loobying presents as a manner to get regulations that serve the country? God bless united states of america.

Answer 5

I'd like to see the source to the Patriat Act that demands that I give my SS# on a loan. Care to point me in that direction?

When it comes to a mortgage loan, there are other tlhings besides identification and credit checks. Tax information must also be turned over.

When you give out a bad SS#, the creditor will pull a credit check, and come back empty. No credit is worse then a low credit score, and that could cost you a loan.

But I sure understand your reluctance in giving out SS#. With identity theft as bad as it is, you have to protect yourself.

Answer 6

It has to do with verifying your identity, work history and income.

A lot of disreputable people give a SS# a digit or two off from their own when making apartment rental applicaitions if they have a judgemetn against them already. This returns a clean bill of health most of the time!

Answer 7

It just for identification purposes. It has nothing to do with you benfits from SS. The rules have changed now everything is linked to your ss number.

Answer 8

if there are multiple ss # on your credit report, then you may have been a victim of identity fraud.

Answer 9

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