Credit Advocacy Industry Overview
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Questions and Answers

What is the primary goal of the Fair Credit Reporting Act (FCRA)?

  • To provide access to credit reports and dispute inaccuracies (correct)
  • To prohibit discrimination based on gender, race, and marital status
  • To regulate credit advocacy organizations
  • To ensure fair treatment by debt collectors
  • Which legislation protects consumers from abusive practices by debt collectors?

  • Credit Repair Organizations Act (CROA)
  • Fair Debt Collection Practices Act (FDCPA) (correct)
  • Fair Credit Reporting Act (FCRA)
  • Equal Credit Opportunity Act (ECOA)
  • What is the main focus of the Equal Credit Opportunity Act (ECOA)?

  • To regulate credit advocacy organizations
  • To provide access to credit reports
  • To protect consumers from debt collectors
  • To ensure fair access to credit opportunities (correct)
  • What is the Credit Repair Organizations Act (CROA) primarily concerned with?

    <p>Regulating credit advocacy organizations</p> Signup and view all the answers

    What is the significance of understanding consumer rights in the credit system?

    <p>To navigate the credit system with confidence</p> Signup and view all the answers

    What is the primary goal of this certification program?

    <p>To equip with in-depth knowledge, practical skills, and a strong ethical foundation</p> Signup and view all the answers

    What is the focus of Module 1 of the certification program?

    <p>Laying the groundwork for understanding the credit system</p> Signup and view all the answers

    What is the significance of credit advocacy services?

    <p>To enhance financial health</p> Signup and view all the answers

    What is the next step in the certification program after Module 1?

    <p>Deep dive into credit health and reports</p> Signup and view all the answers

    What is the ultimate goal of understanding consumer rights and the credit system?

    <p>To advocate for fairness, transparency, and respect within the credit advocacy industry</p> Signup and view all the answers

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