Customer Reviews

Credit Secrets: How To Erase Bad Credit

5 star:		(0)
4 star:		(0)
3 star:		(1)
2 star:		(0)
1 star:		(3)

 

 

He touts something called "file segregation". He also claims it's legal.

It is ILLEGAL...do an Internet search for "ftc.gov" and "file segregation" for more details. It involves getting another social security number (actually it's an EIN--employer ID number that's used for business purposes--but you're asked to use it as an SSN).

Don't waste your money on this...there is no quick-fix for credit problems. There are much better books out there that show you how to rebuild your credit legally.

This book has good information for those with minor credit problems. It also has info on file segregration, which is only useful if credit applications do not ask if you had previous credit problems. Disappointingly, for anyone who has a bankruptcy, this book does not provide information on how to re-establish your credit with what I consider to be 'straightforward' means.

Hiding Bad Credit Is Illegal.

Some credit repair schemes promise you that they can "hide" bad credit by helping you to establish a new credit identity. If you pay a fee for such a service, the company may direct you to apply for an Employer Identification Number (EIN) from the Internal Revenue Service, and to use the EIN in place of your social security number when you apply for credit. You may also be instructed to use a new mailing address. This practice, known as file segregation, is a federal crime.

This book covered very basic information on how your credit report works & offered some very dubious ways to clear it up. For example: Change your social security number. I'm pretty sure there are some illegal things going on with that!