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San Diego, CA - The Fair and
Accurate Credit Transactions Act of 2003 (FACTA) was
enacted to provide many new protections and rights for
consumers, many of which will take effect in 2004. Many
financial services professionals, including debt and
credit counselors, plus lenders and real estate agents
among others, are enrolling in the credit report reviewer
certification program to get up to speed with the new law.
One of the main features of FACTA, is the requirement of
free credit reports annually for all consumers that takes
effect about November 2004. There are also important new
protections for victims of identity theft.
Reviewing credit reports and credit scores for consumers
has now become more important because it can reveal areas
where consumers might be paying more for credit because of
a lower than deserved credit score.
Credit Report Review applicants complete an educational
study program on the new law and after an examination
become certified as a Credit Report Reviewer, by the award
winning, nonprofit Institute of Consumer Financial
Education (ICFE) based in San Diego, CA. The ICFE is
dedicated to helping consumers become better spenders,
regular savers and wiser users of credit and has been
publishing do-it-yourself credit file correction guides
for consumers and counselors since 1992.
The growth of consumer credit and indebtedness has been
explosive over the past ten years and relatively few
Americans bother to look at their credit profiles, usually
because they have had little difficulty in obtaining
credit. Now Identity Theft is the nation's fastest growing
crime, and most consumers aren't even aware they are
victims until they look at their credit report and see a
new credit account they did not originate.
This is an area of great concern to consumers, especially
active credit users. An important new help for consumers,
is the credit report review service, which can help
consumers protect against identity theft, plus identify
inaccuracies (that also might be lowering one's credit
score) and teach how to remove them.
The Credit Report Review is offered only by ICFE Certified
Credit Report Reviewers. "Credit report reviews should be
conducted annually for the average consumer, semiannually
for active credit users - those paying on three or more
credit cards and/or loans per month," indicated Paul
Richard, a Registered Financial Consultant (RFC) and the
Executive Director of the ICFE.
For more information about the Credit Report Reviewer's
Certification Course, you may visit the ICFE web site at:
www.icfe.info or call:
619 239 1401.
ORDER HERE
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About the ICFE:
About the
ICFE:
The Institute of Consumer Financial Education (ICFE), founded in 1982 by the
late Loren Dunton (creator of the “certified financial planner” (CFP)
designation) and it is dedicated to helping consumers of all ages to improve
their spending, increase savings and use credit more wisely. The ICFE trains and
certifies Personal Finance Instructors for its own curriculum. It also trains
and certifies Credit Report Reviewers and Identity Theft Prevention Specialists.
The ICFE is an award winning, nonprofit, consumer education organization that
has helped millions of people through its education programs and resources. It
publishes the Do-It-Yourself Credit File correction Guide, now in its 16th
printing and has distributed over one million “Credit/Debit Card Warning Labels”
and “Credit/Debit Card Sleeves” world wide.
The ICFE became an official partner with the Department of Defense/Financial
Readiness Campaign in June of 2004.
The ICFE is also a partner in the national Jump$tart Coalition for Financial
Literacy and the California Jump$tart chapter. The ICFE staff is also active
with San Diego Saves, an offshoot of America Saves, and the California Student
Debt Resource Awareness Project (CASDRAP) (studentdebthelp.org).
The ICFE’s on-line help for consumers who spend too much was featured in PARADE
Magazine in the Intelligence Report section. The money helps and tips are from
“The Money Instruction Book,” a course in personal finance, positioned to become
among the premier programs in the new bankruptcy and debtor education
initiatives.
The ICFE Web site at:
http://www.icfe.info helps consumers with mending spending, learning about
the proper use of credit, budget and expense guidelines, how to set up and
implement a spending-plan and also how to access financial education courses and
videos and how to teach children about money. Other ICFE services include a free
eNewsletter, and an online resource center of financial education learning
tools, including videos, books, software and personal finance courses.
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