Credit Course Overview
COURSE TITLE: Credit Building Is Asset Building – A Credit Builders Workshop
LENGTH OF COURSE: ¼ DAY (2 HOURS)
The credit building is asset building course is designed to provide participants with a hands-on approach to understanding the process of credit building and/or credit reestablishment.
The course consists of two sessions:
- Understanding the Credit Reporting Process;
- Establishing and/or Reestablishing Credit.
This introductory course provides the basics of credit reports, credit scoring and how both are used by lenders to determine access to credit. The course also orients participants to credit build methods that can be used to strengthen a credit profile. By the end of the course participants will be able to:
• Describe the credit bureau reporting process and know how to order your credit report
• Read and interpret a credit report
• Describe the different factors that affect your credit score
• Apply techniques to establish and/or re-establish credit
• Dispel myths associated with credit
COURSE COMPETENCIES and LEARNING OBJECTIVES
Competency 1: To understand the credit reporting process
- 1a: describe how consumer credit information is collected and stored by a credit bureau.
- 1b: list the three main credit bureaus.
- 1c: identify four ways a credit report can be obtained by a consumer.
- 1d: By the end of the session, participants will be able to describe ….. xxxxxx
Competency 2: To know how to establish and/or reestablish a strong positive credit profile
- 2a: know the purpose of credit scores.
- 2b: describe the five categories used for FICO credit scoring.
- 2c: identify the steps to reviewing a credit report for inaccurate or incomplete information.
- 2d: describe how long debts are owed and how long derogatory items can stay on a credit report.
- 2e: describe how state statute of limitations can affect a creditor’s ability to pursue a consumer in court and how this knowledge may be helpful in creditor negotiations