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Consumer
Information
Consumer
Rights
Equal Credit Opportunity
Credit is used by millions of consumers to finance an education or a house,
remodel a home, or get a small business loan. The Equal Credit Opportunity
Act (ECOA) ensures that all consumers are given an equal chance to obtain
credit. Understand what creditors may and may not do in response to your
application for credit. Features include "A Special Note to Women"
and "If You Suspect Discrimination…" [Read
Full Selection]
Mortgage Discrimination
The Equal Credit Opportunity Act and the Fair Housing Act (FHA) protect
you against discrimination when you apply for a mortgage to purchase,
refinance, or make home improvements. This selection explains your rights
under both acts and discusses how to strengthen your application and what
to do if your application is rejected. [Read
Full Selection]
Fair Credit Billing
Fast Facts
The Fair Credit Billing Act generally applies to "open end"
credit accounts that include: credit cards, revolving charge accounts,
and overdraft checking. Learn the steps to correcting a mistake on your
bill and how the status of your credit rating or report is affected during
the dispute. [Read Full Selection]
Credit and
Your Consumer Rights
A good credit rating is very important. Businesses inspect your credit
history when they evaluate your applications for credit, insurance, employment,
and even leases. The Federal Trade Commission (FTC) enforces credit laws
that protect your right to obtain, use, and maintain credit. This selection
explains your rights under these laws and offers practical tips to help
you solve credit problems. [Read Full
Selection]
Consumer
Alert (Credit Scams, Fraud)
Unfortunately, credit
fraud and scams abound and could affect your credit. An understanding
of these scams and how they work will allow you to avoid detrimental hazards
to your credit.
Secured Credit
Card Marketing Scams
While secured credit cards can be an effective way to build or re-establish
your credit history, some marketers of secured cards make deceptive advertising
claims to entice you to respond to their ads. Understand the difference
between secured and unsecured cards and how to avoid the scam. [Read
Full Selection]
Gold & Platinum
Cards
If you’re looking for credit, be wary of some gold or platinum card
offers promising to get you credit cards or improve your credit rating.
Learn to recognize and avoid the deceit specific to gold or platinum card
offers. [Read Full Selection]
File Segregation
– A New Credit Repair Scam
If you have filed for bankruptcy, you may be the target of a credit repair
scheme called "file segregation." "File segregation"
is illegal. If you use it, you could face fines or even a prison sentence.
Learn more! [Read Full Selection]
Credit and ATM
Cards - What To Do If They’re Lost or Stolen
Many people find it easy and convenient to use credit and ATM cards. The
Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA)
offer procedures for you and businesses to use if your cards are lost
or stolen. [Read Full Selection]
Advertisements
Promising Debt Relief May Be Offering Bankruptcy
Ads promising debt relief may be leading you towards bankruptcy. Although
bankruptcy is one option to deal with financial problems, it’s generally
considered the option of last resort. Become aware of when and why to
claim bankruptcy and whether or not it is the option for you. [Read
Full Selection]
Automatic Debit
Scams
Fraudulent telemarketers have found yet another way to steal your money,
this time from your checking account. Consumers across the country are
complaining about unauthorized debits (withdrawals) from their checking
accounts. Discover how the scam works and what you can do to protect yourself.
[Read Full Selection]
Avoiding Credit
and Charge Card Fraud
Credit and charge card fraud costs cardholders and issuers hundreds of
millions of dollars each year. It's not always possible to prevent credit
or charge card fraud from happening. But there are a few steps you can
take to make it more difficult for a crook to capture your card or card
numbers and minimize the possibility. [Read
Full Selection]
Home Equity Scams
- Borrowers Beware!
Do you own your home? If so, it's likely to be your greatest single asset.
Unfortunately, if you agree to a loan that's based on the equity you have
in your home, you may be putting your most valuable asset at risk. Abusive
lending practices range from equity stripping and loan flipping to hiding
loan terms and packing a loan with extra charges. The Federal Trade Commission
(FTC) urges you to be aware of these loan practices to avoid losing your
home. [Read Full Selection]
Identity Thieves
Can Ruin Your Good Name
Identity theft is the act of stealing your good name to commit fraud.
Be sure that you know how to guard against it. [Read
Full Selection]
Credit
Repair
If you are in debt,
you are not without options. The following selections are provided to
assist you in repairing your credit.
Knee-Deep In Debt
Whether your debt dilemma is the result of illness, unemployment, or overspending,
it can seem overwhelming. Don’t despair. Legal alternatives can help
you regain your financial foothold. [Read
Full Selection]
Credit Repair:
Self-Help May Be Best
Learn how self-help is the foundation to repairing your credit. Only time,
a conscientious effort and a personal debt repayment plan will improve
your credit report. [Read Full Selection]
Credit Repair:
Help Yourself First
Newspapers, radio, TV, and the Internet are filled with ads that offer—for
a fee—to erase accurate negative information in your credit file
so you can get a credit card, auto loan, home mortgage, or even a job.
The scam artists who run these ads can’t deliver. Only time, a deliberate
effort and a personal debt repayment plan will improve your credit. [Read
Full Selection]
Credit
Tips and Information
Information and tips
regarding your credit are available about everything from home financing
to cosigning a loan. The following resources are provided to aid you in
making sound credit choices.
Using Ads
to Shop for Home Financing – Fast Facts
For many home buyers, shopping to find the best home financing is as important
as shopping to find the right house. Many consumers learn about available
credit terms for new homes from newspaper advertisements. This selection
offers answers to some questions you may have about home credit advertising.
[Read Full Selection]
Utility Credit
– Fast Facts
A utility is generally a credit account. Utility credit discrimination
is illegal under the Equal Credit Opportunity Act. Understand more about
your rights and how this type of credit is regulated. [Read
Full Selection]
Getting a Loan:
Your Home as Security – Fast Facts
If you need a personal loan and are thinking about using your home as
security, you should know about a credit law that gives you extra time
to reconsider the loan agreement. [Read
Full Selection]
Mortgage Servicing
– Fast Facts
When you apply for a home mortgage, you may think that the lender, or
loan originator, will service the loan until it is paid off or your house
is sold. This is not always true. In today's market, mortgage servicing
rights often are bought and sold. In 1990, the National Affordable Housing
Act was passed to address some of these concerns. This selection explains
what a mortgage servicer does and what your rights are under the Housing
Act. It also tells what you can do if you have a complaint about the transfer
of your loan servicing. [Read Full
Selection]
Ready, Set…Credit
A credit card is a great financial tool and a big responsibility. Here
is some important information that may help you determine whether you’re
ready for plastic, what to look for when you select a company to do business
with and how to use your credit card responsibly. [Read
Full Selection]
Refinancing Your
Home – Fast Facts
Should you refinance your home mortgage? How do you decide if refinancing
makes sense in your particular case? The answer depends on many factors.
This selection offers information to help you decide whether to refinance
your home mortgage and how to go about doing it. [Read
Full Selection]
Home Equity Credit
Lines – Fast Facts
Using a credit line to borrow against the equity in your home has become
a popular source of consumer credit. And lenders are offering these home
equity credit lines in a variety of ways. Find out if a home equity loan
is right for you and understand the specifics of obtaining the right one.
[Read Full Selection]
Cosigning A Loan
What would you do if a friend or relative asked you to cosign a loan?
Before you answer, make sure you understand what cosigning involves. [Read
Full Selection]
Choosing and Using
Credit Cards – Fast Facts
Chances are you have received offers in the mail asking if you would like
to open credit card accounts. Before accepting a credit card offer, understand
the card's credit terms and compare costs of similar cards to get the
features and terms you want. [Read
Full Selection]
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