Submitted by: Submitted by katylovesyou
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Category: Science and Technology
Date Submitted: 09/08/2013 10:04 PM
University of Phoenix Material
Credit Protection and Identity Theft
Directions
Refer to:
Free Credit Report on the Federal Trade Commission’s site.
Identity Theft resource center on the Federal Trade Commission’s site.
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?
f you happen to find an error on your credit report the way to fix it is by contacting the credit reporting company and the information provider. The credit reporting company and the information provider are responsible for correcting the incorrect or incomplete information on your credit report. In order to fix the incorrect information you have to contact the credit reporting company and the information provider. You have to tell the credit reporting company, in writing, the information that you believe to be incorrect. The credit reporting companies have to look into the information that is being questioned. If the information provider determines that the information is incorrect, they have to notify all three credit reporting companies nationwide so they can correct the information that was incorrect. After the investigation is finished, the credit reporting company must give you written results and a free copy of your credit report.
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?
According to my readings someone should not let an organization repair your credit for a fee. It is simple to get it fixed on your own. All you have to do it call the credit reporting company and in writing tell them the errors you found and they will look into it and once they determine the...