Credit Protection and Identity Theft

Directions

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?

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?

3. 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?

4. 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.