Has anyone new here ever gotten an EIN for credit purposes?

Answer 1

The feds will prosecute you if they catch you. You will be responsible for all debts incurred. They can not be dissolved in bandruptcy because the credit was obtained fradulently.

You will mess this up just like you did the credit obtained using your ss.













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Answer 2

Why would you get an Employer Identification Number for credit purposes? The only reason would be to set up a secondary credit account for you. Basically fraud.

Qoute:

3. What is the truth about credit agencies that promise to completely eliminate your bad credit history by creating an "alternate credit file" for you?

Beware of credit repair agencies that promise to eliminate your credit history by creating a new credit identity for you. They may be causing you to commit federal and state crimes. Typically, these agencies market their scheme by giving you a doom-and-gloom scenario regarding your credit. For instance, they will tell you that your bad credit history will prevent you from getting credit for up to 10 years. Often they will claim that their program is legal and some will even claim that their program is affiliated with the federal government. Recently, the federal government has been cracking down on these practices and even taking action against agencies that duped clientele.

Here is how it works: some credit repair agencies promise to create a new credit identity for you so that your bad credit is no longer shown on your credit report. For a fee, they promise to hide any unfavorable credit information by establishing an "alternate credit file" in your name. They do this by directing you to apply for an Employer Identification Number (EIN) from the Internal Revenue Service. EIN numbers are typically used by businesses to report financial information to the Social Security Administration and the IRS and resemble a Social Security number. Then they direct you to use your EIN number on credit applications in the space where the credit application asks for your Social Security number. This way, when a potential creditor pulls a credit report using the EIN number that you gave them, the creditor will only see your new untarnished credit history and not your real credit history. To buttress this scheme, they typically advise you to use a new mailing address and references.

The problem with this scheme is that it is potentially illegal in several ways. For example, when you are filing for an EIN number with the aforementioned intent, you may be committing the crime of false pretenses. Similarly, when you use your EIN number in the space on a credit application where it asks for your Social Security number, you're committing fraud. Further, if you misrepresented your Social Security number by telephone or mail you may also be guilty of wire and mail fraud. In addition, if you ever want to discharge your debts by filing bankruptcy, you may not be allowed to if you used false information to obtain credit. Also, many states have laws classifying the creation of an alternate credit file as civil fraud.

As you can see, this shortcut to better credit is typically not worth the risk, especially given the fact that if you follow the steps provided by this site, you can reestablish an "A" credit rating again in a relatively short time.

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Answer 3

I believe it is not legal to use an EIN like a social security number. EINs are for tax purposes. It's for the government to distinquish a (*edited) company.