There are different ways to open a new credit file each of which works to help one build a new credit file and utilize simultaneously while repairing ones credit or establishing credit. This is another do it yourself credit repair technique that can increase your credit score while repairing your credit. It is a loophole in the system. In trying to fix credit most people get very frustrated because once you have bad credit it is even harder to repair your credit without going into more debt.

An advantage of utilizing do it yourself credit repair is that you will definitely be in control of your credit score and you can watch the step by step of your credit repair. One can use their own name with different personal information. You can also use the same personal information with different first or last name, or use an alias with different personal information. Before you decide which way to go you must know exactly what you are trying to do.Personal information data include birthdate, social security number and address. Variations can be made easily to the address, but other variations including social security number and birthdate require you to be very keen to the inner workings of credit and how credit bureaus work. Most people dont realize that credit bureaus are private firms that issue rankings on your credit when a credit check is done. Once you have set up a new credit file you can now build that file by obtaining collateral bank loans and before you know it, you can have AAA credit in that name. This is a very unorthodox technique and I would advise you to really research the law before going forward.

People with bad credit are not doomed and there are ways out of the bind. Ways to erase bad credit can be found all over the net but you have to be very careful on which direction you are going.

Understand that a credit bureau is a massive data base and new names are entered every second. If you call the credit bureau and give them your information they are able to pull your credit report and FICO score. All three credit bureaus work in the same way. Any variation in the way your details are presented lodges the details as a new credit file because there is no history of the person. Therefore you have essentially created a new credit file therefore a new identity.

This kind of loophole allows you techniques that are easy to apply and can help you erase bad credit from you credit file or build new credit.