Your Name – Your Your Name – Your CompanyCompany

Helping People Improve & Protect Their Helping People Improve & Protect Their CreditCredit

Credit Credit ConceptsConceptsIIII

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Provide usable information to Provide usable information to help you manage and protect help you manage and protect

your creditworthinessyour creditworthiness

Learning ObjectivesLearning ObjectivesHow to Improve Your Credit How to Improve Your Credit ScoresScoresProtecting Your Credit and Protecting Your Credit and Your IdentityYour Identity

Workshop GoalWorkshop Goal

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Credit Concepts QuizCredit Concepts Quiz

1.1. True or False? Could an employer refuse to hire you if True or False? Could an employer refuse to hire you if your credit score was too low? your credit score was too low?

2.2. A credit restoration company has the ability to remove A credit restoration company has the ability to remove which of the following negative items from your credit which of the following negative items from your credit report?report?

3.3. True or False? Paying off a collection account will True or False? Paying off a collection account will remove that account and the account history from your remove that account and the account history from your credit report?credit report?

4.4. Clearing your name is hardest after which type of Clearing your name is hardest after which type of identity theft?identity theft?

5.5. The unauthorized disclosure of a company’s secure The unauthorized disclosure of a company’s secure employee personal information is known as____?employee personal information is known as____?

6.6. What’s the first thing you should do when you become a What’s the first thing you should do when you become a victim of identity theft?victim of identity theft?

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

As Your Credit Score Improves:As Your Credit Score Improves:

You qualify for better mortgage loansYour mortgage and auto payments decreaseYou qualify for better insurance rates

You have more employment opportunities

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

How to Improve Credit ScoresHow to Improve Credit Scores Credit RestorationCredit Restoration

– Derogatory items disputed and not verified within 30 Derogatory items disputed and not verified within 30 days must be deleted from the credit report (Fair Credit days must be deleted from the credit report (Fair Credit Reporting Act). Reporting Act).

– TypicallyTypically,, 4-6 4-6 months to removemonths to remove 40%-60%40%-60% of derogatoryof derogatory items will often increase score items will often increase score 40-100 points.40-100 points.

Establish Positive CreditEstablish Positive Credit

– Open New Trade Lines (Open New Trade Lines (Secured Credit Cards & Installment Secured Credit Cards & Installment LoansLoans))

– Pay On Time With Existing AccountsPay On Time With Existing Accounts

– No Positive Trade Lines = Lower Scores.No Positive Trade Lines = Lower Scores.

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Identity TheftIdentity Theft

“Identity theft occurs when someone uses your personal information

without your permission to commit fraud or other crimes.”

Federal Trade Commission (ftc.gov)

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Nowhere to Hide!Nowhere to Hide!

The Average The Average American is American is Listed in At Least Listed in At Least 50 Databases50 Databases

- PC MagazinePC Magazine

July ‘04July ‘04

Your Personal Information is Your Personal Information is No SecretNo Secret

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Types of Identity TheftTypes of Identity Theft

– Department of Motor VehiclesDepartment of Motor Vehicles – – Obtaining a Obtaining a driver's license in your name.driver's license in your name.

– Social SecuritySocial Security - A person steals your SS # to gain - A person steals your SS # to gain employment.employment.

– Medical InformationMedical Information – – Obtaining drugs or medical Obtaining drugs or medical care in your name.care in your name.

– Criminal IdentityCriminal Identity - - Someone impersonates you and Someone impersonates you and commits a crime. commits a crime.

– Financial IdentityFinancial Identity – – Someone opens new or uses Someone opens new or uses your existing accounts.your existing accounts.

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Real Incidents. Real ThreatReal Incidents. Real Threat

Most ID Theft Cases Never Get Resolved.Most ID Theft Cases Never Get Resolved. Tyler Morning Telegraph. – Tyler Morning Telegraph. – 6/16/05 6/16/05 Driver’s License IDTDriver’s License IDT

What Happened:What Happened: People in a crime ring stole identifying information from People in a crime ring stole identifying information from mailboxes to print fake driver IDs.mailboxes to print fake driver IDs.

Victim Impacts:Victim Impacts: Many counterfeit checks were written and thousands of $ were Many counterfeit checks were written and thousands of $ were spent using victims’ names.spent using victims’ names.

1282 Illegal Aliens Use SSA Numbers For Employment In US. 1282 Illegal Aliens Use SSA Numbers For Employment In US. U.S. U.S. Immigration and Customs Enforcement , the Investigative Arm of The Department Immigration and Customs Enforcement , the Investigative Arm of The Department of Homeland Security – 12/13/06. of Homeland Security – 12/13/06. SSA # Identity TheftSSA # Identity Theft

What Happened: What Happened: Crime organizations hijacked and sold US citizens’ SSA numbers Crime organizations hijacked and sold US citizens’ SSA numbers to illegal aliens. to illegal aliens.

Victim Impacts:Victim Impacts: 1282 illegal aliens from Mexico and S. America used those SSA 1282 illegal aliens from Mexico and S. America used those SSA numbers to gain employment.numbers to gain employment.

Medical Identity Theft Nearly Ruined A Good Mother's Life. Medical Identity Theft Nearly Ruined A Good Mother's Life. CBS News – CBS News – 10/9/06. 10/9/06.

What Happened: What Happened: A woman stole the driver’s ID of Anndorie Sachs, walked into a A woman stole the driver’s ID of Anndorie Sachs, walked into a hospital, had a baby, and left.hospital, had a baby, and left.

Victim Impacts: Victim Impacts: Authorities accused Sachs of being an unfit mother and threatened Authorities accused Sachs of being an unfit mother and threatened to take away her children. No one believed Sachs until she physically to take away her children. No one believed Sachs until she physically went and had her blood tested.went and had her blood tested.

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

More Incidents. More ThreatMore Incidents. More Threat

ID Theft Victim Battling Problems For A DecadeID Theft Victim Battling Problems For A Decade.. Eagle Tribune.Eagle Tribune. – – 3/21/07 3/21/07 Criminal Identity TheftCriminal Identity Theft

What Happened:What Happened: Darryl M. Landry used Daryl A. Landry’s identity to freely commit Darryl M. Landry used Daryl A. Landry’s identity to freely commit crimes. When abducting children, he had them call their parents, crimes. When abducting children, he had them call their parents, naming the innocent Daryl A. Landry as the culprit. naming the innocent Daryl A. Landry as the culprit.

Victim Impacts:Victim Impacts: The innocent Daryl has been fighting angry phone calls and arrest The innocent Daryl has been fighting angry phone calls and arrest warrants for nine long years.warrants for nine long years.

Breach of data at TJX could be the biggest ever.Breach of data at TJX could be the biggest ever. The Boston Globe – The Boston Globe – 3/27/07 3/27/07 Financial Identity TheftFinancial Identity Theft

What Happened: What Happened: Thieves hacked into the system firewall to TJX and planted Thieves hacked into the system firewall to TJX and planted malicious software that stole data.malicious software that stole data.

Victim Impacts:Victim Impacts: 45.7 million credit and debit card numbers were stolen. 8 million 45.7 million credit and debit card numbers were stolen. 8 million dollars was spent by thieves. dollars was spent by thieves.

Cyberthieves Stole 1.3 Million Names from MonsterCyberthieves Stole 1.3 Million Names from Monster. . USA Today – USA Today – 8/24/07 8/24/07 Financial Identity TheftFinancial Identity Theft

What Happened: What Happened: Thieves organized a massive operation that stole 1.3 million Thieves organized a massive operation that stole 1.3 million customer names & emails from Monster; they sent out an email that customer names & emails from Monster; they sent out an email that when clicked, allowed the thief to highjack the computer.when clicked, allowed the thief to highjack the computer.

Victim Impacts: Victim Impacts: Many people have lost and will lose personal information to thieves Many people have lost and will lose personal information to thieves and will suffer identity theft.and will suffer identity theft.

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Protect Your IdentityProtect Your Identity

Practice Good Mailbox HabitsPractice Good Mailbox Habits

--Pick up immediately; use post office for outgoing mailPick up immediately; use post office for outgoing mail

Shred or Burn Personal DocumentsShred or Burn Personal Documents

Place a Fraud AlertPlace a Fraud Alert--Provided for up to 7 years at NO COSTProvided for up to 7 years at NO COST

Place a Security Freeze Place a Security Freeze --$10 to place/$10 to lift; per bureau$10 to place/$10 to lift; per bureau

Purchase Identity Theft Protection PlansPurchase Identity Theft Protection Plans--Monitoring Services- Monitoring Services- Notification is sent to alert the consumer of a new Notification is sent to alert the consumer of a new

accountaccount

--Restoration Services- Restoration Services- Helping the consumer restore their credit and their nameHelping the consumer restore their credit and their name Obtain Yearly Free Credit ReportObtain Yearly Free Credit Report

((www.annualcreditreport.com)www.annualcreditreport.com)

Helping people improve and protect their credit

Credit Concepts

Your Name – Credit ExpertYour Name – Credit Expert

Thank You For Your Time!Thank You For Your Time!

Opt in FormOpt in Form- Fill out top half of form to receive our newsletterFill out top half of form to receive our newsletter

- Fill out bottom half if you’d like to meet about any of the Fill out bottom half if you’d like to meet about any of the related topics.related topics. QUIZ ANSWERSQUIZ ANSWERS

1.1. (A) True. Everyday, more employers legally deny employment to job (A) True. Everyday, more employers legally deny employment to job applicants based on their credit score. applicants based on their credit score.

2.2. (D) A credit restoration company can remove all of these items. (D) A credit restoration company can remove all of these items.

3.3. (B) False. Paying off a collection account will not remove it from your credit (B) False. Paying off a collection account will not remove it from your credit report.report.

4.4. (C) Victims of criminal identity theft can take up to 9 years to clear up their (C) Victims of criminal identity theft can take up to 9 years to clear up their criminal record.criminal record.

5.5. (B) This is known as a data breach.(B) This is known as a data breach.

6.6. (E) If you are a victim of identity theft do all of these things as soon as (E) If you are a victim of identity theft do all of these things as soon as possible.possible.