Buy a new credit file

If your credit position is bad and you cannot get the additional borrowings you need, do not be tempted to deal with businesses who claim to be able to help you buy a new credit file. It's not possible and any attempt to do so may be illegal.

There has been a lot of promotional activity on the internet whereby businesses say they can help you in creating a new credit file legally. This was only relevant in the USA where Social Security Numbers (SSN) are used in credit reports, and where, if you applied for and got a new Tax Identification Number you could use this instead of an SSN to apply for fresh credit. Whilst it was in theory possible to get credit this way, you could get yourself in big trouble if and when, a creditor discovered your true identity.

Your credit history is only yours, you can't pretend something that has happened didn't happen, so even if it were possible, buying a new credit file would not make your past credit dealings disappear.

The only way to improve your credit score is to clean up your credit file, and that will take time and effort on your part. It's not difficult but it does require a disciplined approach to your money matters. So beware of any individual or business who says you can buy a new credit file.