How To Create A New Credit Profile, Obtain New Credit, And Rebuild Your Old Credit: A detailed step-by step process designed for anyone recovering from bad credit

Book Synopsis: Learn the proven method to create a new credit profile, obtain new credit and rebuild bad credit.* * TABLE OF CONTENTS * * Why We Wrote This Book How This Book Can Help You 1. Establish a new credit profile and obtain new credit 2. Build a credit score of 700 or higher in 12 months 3. Minimize creditor harassment The 3 Steps to Success 1. Establish new personal information 2. Apply for secured credit cards 3. After one year, convert secured cards to unsecured Old Credit Profile vs. New Credit Profile 1. Build a wall around your old information 2. Never mix your old and new information Managing Old Credit Problems 1. Forwarding mail to a PO box 2. Porting your phone number 3. When to disconnect your phone 4. Updating lender accounts online Establishing Your New Information 1. Obtain copies of your existing credit reports 2. How to establish a new residence address 3. How to establish a new email address 4. How to establish a new phone number Establishing a Slight Variation of Your Name 1. Review the names on your old credit reports 2. How to modify your first name 3. How to modify your middle name 4. How to pay new credit cards with an old bank account Should I use an SSN or an EIN? What is a CPN? Creating a Virtual SSN 1. First 3 digits (State) 2. Middle 2 digits (Group) 3. Last 4 digits (Serial) 4. Determining your age 5. Generating your new virtual SSN 6. Establishing your birthday Establishing Your Salary and Expenses 1. Look like a recent college graduate 2. Understand the DTI ratio 3. Do you rent or do you own? 4. How long have you lived at your current address? 5. What kind of car do you have? 6. Determine your profession and salary 7. Determine other sources of income 8. Determine your employer name Applying For A Credit Card 1. Start with a secured credit card 2. No-fee cards preferred 3. Avoid credit unions and retail store cards 4. Apply for cards that include free monthly credit scores 5. Only use your new information when you apply 6. You have both a checking and saving account 7. You rent instead of own 8. You have lived at your address for more than two years 9. You have very low or no monthly debt payments 10. You are currently employed 11. You have no other sources of income 12. Security deposit amount 13. What happens if my application is declined? Managing Your New Profile 1. Give as little information as possible to creditors 2. When to never use your new profile 3. Convert secured accounts to unsecured after one year 4. Pay off each card in full each month 5. Understand how FICO scores work 6. Wait 6 months between credit applications 7. Give yourself a pay raise every year 8. Ask for an annual credit limit increase 9. Put a security freeze on your credit reports 10. Closing an account Managing Your Old Profile Other Items 1. Should I update my photo ID and bank account? 2. What about car loans and apartment rentals? 3. The 7 year limit on negative items 4. Should I file for bankruptcy? 5. Time-barred collection of old debts 6. Dealing with debt collectors and “zombie” debt 7. Paying off old debt at a discount may cause tax problems 8. When you no longer need your new profile 9. Am I using someone else’s SSN? 10. Avoiding legal problems 11. Final words APPENDIX 1. Social Security Numbers - First Three Digits (State Number) 2. Social Security Numbers - Middle Two Digits (Group Number) 3. Social Security Numbers - Last Four Digits (Serial Number) Read more