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Getting Using EIN/TIN


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Well...here's the rest of the story.

You can indeed create a company...either a DBA, S Corp, C Corp, LTD, whatever...and use it to get an EIN number...and use it to obtain credit, buy a house, buy a car, whatever.


You'll need to deal with the IRS because of it...and

Almost all the credit you obtain will require a "personal gurantee", which, in effect, puts you right back up against your personal CRs.

There's nothing illegal about creating a company, nor is it fraud to do so. However, it does complicate your dealings with the IRS, and it will not solve your credit problems.

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EIN and SS numbers are in an entirely different format and range. Its obvious when you try to use EIN in place of SS...doesn't work.

The only way you can get an EIN number is by providing a company name. It can be John Q Debtor and Company if you like...but the IRS is going to expect tax returns filed for that enitity each year. 20 years ago, you might have been able to get unguranteed credit for the JQD Co., but these days, it don't work that way.

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I'm not disagreeing with you, just pointing out that the companies that push this type of credit repair want you to establish a new identity or seperate credit file.

From the FTC:

The Pitch: A New Credit Identity

If you have filed for bankruptcy, you may receive a letter from a credit repair company that warns you about your inability to get credit cards, personal loans, or any other types of credit for 10 years. For a fee, the company promises to help you hide your bankruptcy and establish a new credit identity to use when you apply for credit. These companies also make pitches in classified ads, on radio and TV, and even over the Internet.

If you pay the fee and sign up for the service, you may be directed to apply for an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). Typically, EINs — which resemble Social Security numbers — are used by businesses to report financial information to the IRS and the Social Security Administration.

After you receive your EIN, the credit repair service will tell you to use it in place of your Social Security number when you apply for credit. They’ll also tell you to use a new mailing address and some credit references.


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