Chapter 6 Lists

Question 1

Explain the steps to take if you find an error on your credit report

Answer 1

1) write a separate letter for each inaccuracy
2) Staple a copy of your credit report to each letter
3) Circle the account number

Question 2

List some precautions to take to help safeguard against identity theft

Answer 2

1) place a fraud victim alert on your credit bureau report
2) Get a pilote report
3) Remeber that you owe nothing and should pay nothing
4) Contact the fraud victim division of each creditor and furnish documentation
5) Be persistent

Question 3

List the 5 components of the FICO score

Answer 3

1) 35% debt history
2) 30% debt levels
3) 15% Time in debt
4) 10% new debt
5) 10% type of debt

Question 4

Four walls of priorities

Answer 4

1) food
2) shelter
3) clothing
4) transportation