finance

Refer to two articles found at the Federal Trade Commission:

Fair Credit Reporting Act: http://www.consumer.ftc.gov/articles/0155-free-credit-reports

Avoiding Scams: http://www.consumer.ftc.gov/articles/0120-avoiding-scams-101

 Provide answers to 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?

1. 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? 

1. Have you, a family member, or a friend been a victim of identity theft?  How did it happen? Describe the resolution process, i.e., how much time did it take, what credit damage was corrected?

1. Using the FTC site, what can you do to minimize the chance of your identity getting stolen?

Post the Credit Protection and Identity Theft worksheet as a Microsoft^® Word attachment.

5•What steps can you take today to improve or maintain your credit score?

 •How does the FICO score impact your credit behavior?

 •How might you adjust your credit score when you begin working in your desired career?

6. Go to an annual credit report website (www.annualcreditreport.com) authorized by the Federal Trade Commission to provide free consumer credit reports at www.ftc.gov

Explore the Frequently Asked Questions section to learn about credit reporting, credit improvement, information correction, identity theft, and other topics.

Consider why a credit report is important.