Question

4. A negative account that is four years old is being reported incorrectly in your client’s credit report. This account shows that in the past, it was delinquent six times. How should you dispute this account?

1. Determined how this particular account affects your client’s credit score before you dispute it. Because this account could be helping your client’s credit score.
2. Dispute the inaccurately reported account to have it corrected.
3. Do not dispute this account because you need at least one negative account on a credit report for a greats score.
4. Determined how many days this account has show late and dispute the late days.
5. Dispute the account because it is negative.

5. Under what circumstances are consumers entitled to a free credit report from a credit bureau?

1. After they have been denied credit within the last 60 days.
2. Under the FACT Act, Americans will have the right to one free statutory credit file disclosure evert twelve months from each of the three national credit reporting agencies, residents of Georgia will be entitled two
3. When not denied credit, they write to a bureau and request a copy of their own report
4. A and B only

6.How do most credit repair companies get paid?

1. Various ways: monthly fees, per item deleted, via how many points have increased in credit score, flat fee
2. Per credit report and per lender or per credit system point but not credit scores.
3. Monthly only ad recurring for at least four years
4. Monthly for three years but no more than 10 years
5. All of the above

7. When you purchase a credit report from the credit bureau directly, there is an arbitration agreement that will prevent you from Suring with a jury trial. Consumer SHOULD NEVER Opt of Binding Arbitration Clause within 30 to 60 days of receiving a credit report from a credit bureau.

1. True
2. False

8.There is a status you must check first on a client’s credit report if a chapter 7 bankruptcy is listed. This status must show and will have an affect on the way you can dispute accounts.

Looking at the options below, what should you dispute first if this status is NOT showing property? This is not a trick question.

1. Check for the discharge date.
2. Check to make sure that all accounts listed in the bankruptcy are spelled correctly because it could give you an opening to dispute.
3. Check to make sure the[TL(1] bankruptcy code is properly showing in the credit report.
4. Check for spelling if the word bankruptcy because it could give you an opening to dispute.
5. Check all accounts listed in the bankruptcy foe the closed dates. Dispute any accounts that are showing open without a closed date.

[TL(1]

Answer 1

4. Option A, Determined how this particular account affects your client’s credit score before you dispute it. Because this account could be helping your client’s credit score.

5. Option d, A and B only

6. Option A, Various ways: monthly fees, per item deleted, via how many points have increased in credit score, flat fee

7. Option B, false

8. Option B,Check to make sure that all accounts listed in the bankruptcy are spelled correctly because it could give you an opening to dispute.