appendix D
University of Phoenix Material
Credit Protection and Identity Theft
Directions
Refer to:
Building a Better Credit Report on the Federal Trade Commission’s site: www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm Identity Theft resource center on the Federal Trade Commission’s site: www.ftc.gov/bcp/edu/microsites/idtheft/consumers/deter.html.
Provide answers to three of the following questions based on your readings and your personal experiences. Answers should be 100-to 150-words each.
1. If you find errors on your credit report, what steps would you take to correct them?
A very important thing is to always keep documents of everything you do dates, times of phone calls, who you spoke with and why did you call them and make sure you keep copies of what you send to them before you send it. Do not send originals make sure that you only send them copies. Make sure that you stay presistant because this process can take up to 6 months. when you get a written response from the credit agency, you'll also get a new copy of your credit report. If any information is changed on the report, the CRA cannot change it back unless the creditor provides proof that it was accurate. You'll receive the contact information for the creditor or merchant so you can begin your battle.
2. There are many organizations that claim they will repair your credit for a fee. From your readings, should someone use a credit repair service? Why or why not? What are some actions these organizations can take that should be a red flag?
Some credit repair clinics use practices that are fraudulent, deceptive, and even illegal stealing the credit files or Social Security numbers of people who are under 18 or have died, and substituting these for the files of people with poor credit histories, and advising clients to create a new identity by applying for an IRS Employer Identification number.
3. Have you, a family member, or a friend been a victim of identity
Credit Protection and Identity Theft
Directions
Refer to:
Building a Better Credit Report on the Federal Trade Commission’s site: www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm Identity Theft resource center on the Federal Trade Commission’s site: www.ftc.gov/bcp/edu/microsites/idtheft/consumers/deter.html.
Provide answers to three of the following questions based on your readings and your personal experiences. Answers should be 100-to 150-words each.
1. If you find errors on your credit report, what steps would you take to correct them?
A very important thing is to always keep documents of everything you do dates, times of phone calls, who you spoke with and why did you call them and make sure you keep copies of what you send to them before you send it. Do not send originals make sure that you only send them copies. Make sure that you stay presistant because this process can take up to 6 months. when you get a written response from the credit agency, you'll also get a new copy of your credit report. If any information is changed on the report, the CRA cannot change it back unless the creditor provides proof that it was accurate. You'll receive the contact information for the creditor or merchant so you can begin your battle.
2. There are many organizations that claim they will repair your credit for a fee. From your readings, should someone use a credit repair service? Why or why not? What are some actions these organizations can take that should be a red flag?
Some credit repair clinics use practices that are fraudulent, deceptive, and even illegal stealing the credit files or Social Security numbers of people who are under 18 or have died, and substituting these for the files of people with poor credit histories, and advising clients to create a new identity by applying for an IRS Employer Identification number.
3. Have you, a family member, or a friend been a victim of identity