What is a Credit Privacy Number?

What is a Credit Privacy Number? Ever heard of a Credit Privacy Number (CPN)? It is a nine-digit identification number that looks like a social security number (SSN) and may be used instead of a SSN, for certain purposes. Consumers are often required to disclose their SSN to the IRS, employers, the DMV, when buying a gun, or applying for a federally insured loan. In certain circumstances, federal law allows consumers to legally use a separate identification number. CPNs are commonly used by celebrities, members of Congress, and witnesses in a federal protection program. However, CPNs can be misused. Shady...

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IRS Makes it Easier to Get Tax Liens off Credit Reports

IRS has changed its rules concerning the filing of tax liens against taxpayers, which IRS reports to the credit reporting agencies. Tax liens dramatically reduce credit scores. It has been difficult to get the tax liens off one’s credit reports even when the lien is paid. IRS said it changes will help people with tax debts get a fresh start. One of the biggest changes is that people who pay their tax debt in full or enter into a direct debit installment agreement can ask to have the tax lien withdrawn. Once that is done, the taxpayer may ask the...

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Identity Thief Steals Bay Area Couple’s Tax Refund

Will and Gracie Tan suffered through identity theft, fake credit cards in their name, had their bank accounts raided and then learned that their tax refund was going to someone else, as Ken Garcia recently reported in the San Francisco Examiner. The Tans’ horrible experience illustrates how much damage sophisticated identity thieves can inflict upon consumers’ credit–and their bank accounts–with a few key items of identification. The Tans’ problems seems to have started last year, when they refinanced their mortgage. Garcia’s column doesn’t say who actually stole their identifying information, only that a ring of thieves in El Paso, Texas...

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