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Modules 6 to 10 (Full Module List)

[6]

Costly Credit Alternatives

Students often seek short-term "crisis" loans without understanding the terms of their agreements or use money orders to avoid returned check fees from banks. The most popular options are cash checking outlets, rent-to-own stores, pawnshops, payday loans, car title stores, and cash leasing. The total cost of these forms of credit are explained (from 60% to 730% annual percentage rate) as well as their advantages and disadvantages in establishing a sound credit history.


[7]

Repairing Your Credit Report

The rapid flow of information in the computer age has increased the importance of a sound credit report. This has spawned an army of credit "repair" companies with costly fees and limited results. The basics of correcting mistakes in personal credit reports are explained as well as suggestions for rebuilding a sound credit history. Addresses and phone numbers of the major Credit Reporting Agencies (CRA) are listed with sample letters for correcting omissions and errors.


[8]
Consumer Credit Rights

Explains the legal rights of consumers as specified in the 1971 Fair Credit Reporting Act (FCRA). Discusses how to receive free copies of personal credit reports, provides sample letters for disputing errors, how to initiate investigations, procedures for contesting creditor claims, and reporting fraudulent charges. Lastly, explains consumer rights concerning bill collectors and how to limit their intrusive activities.


[9]

Student Loan Refinancing

Favorable changes in the tax deductibility of student loan interest payments, the growing use of high-interest private student loans, and escalating student debt levels have increased the desirability of refinancing student loans after graduation. Discusses tax deductibility issues, deferment options, debt consolidation, extending length of loans, and prepayment advantages/disadvantages.

 

[10]

Privacy Issues

The "cashless society" threatens individual privacy by recording all personal credit card transactions. The "cross-marketing" of individuals' purchasing histories and use of powerful computer systems has led to increasingly detailed data banks that can monitor consumers' daily activities. The refinement of "smart card" (computer chip) technology means that different forms of personal information will be easily accessible to corporate information systems. Reviews your consumers rights and ways to safeguard the computerized scrutiny of everyday activities.

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