Credit Report Repairs


Utilization Strategies Lesson Plans Meet the Teachers NTTI WNET LEARN IdahoPTV	CREDIT REPORT REPAIRS & LIVING WITH ROOMMATES by Shawna Frisbee University of Idaho ITV SERIES RIGHT ON THE MONEY GRADES 11 - 12 OVERVIEW Bad debt happens to good people, the question is "How can people repair their credit, once the damage has been done?"
	LEARNING OBJECTIVES Students will be able to determine the steps in checking a credit report. Students will be able to analyze a credit report. Students will be able to create a plan to develop and/or improve credit history.	MATERIALS VCR Television Computers with Internet Access Paper Pencils

	PREVIEWING ACTIVITIES Discussion of "Why don't people analyze all the costs of using credit cards before they make a purchase?"	FOCUS FOR VIEWING To give students a specific responsibility for viewing, students will be asked to listen for and write down four ways that will help develop or improve credit history.

	Viewing Activities START the video segment when Chris asks guest Gerri Detweiler "But they find themselves in a lot of debt trouble, and then they sort of would like to get away from it and they can't?" PAUSE the video after Gerri talks about the three reporting credit bureaus. Discuss with students how they could improve a bad credit history and what steps they should take to improve their credit rating. START the video when Chris asks Michelle what to look for on a credit report. To give students a specific responsibility for viewing, students will be asked to listen for and write down five things they should look for when examining their credit report. PAUSE the video when Michelle says "But at least be sure that you're paying them on time." Discuss what things you should look for when examining your credit report and the procedures for fixing errors.	POST VIEWING ACTIVITIES Students will develop a financial plan on how to develop a positive credit report and report to the class. Students will also request a credit report and will need to analyze their report and what they need to do to adjust/improve their credit rating. Students will play the Credit Card games at http://www.themint.org/documents/parents _teachers_cash_or_credit.htm Students will need to keep track of purchases, expenditures and finance charges on a separate piece of paper as they play the game and report back to the class. ACTION PLAN Invite a credit counselor, bank officer, or loan officer into the classroom to discuss how to build a good credit report and what lending institutions are looking for in applicants. EXTENSIONS Additional online activities about spending and credit can be found at Love the Idea of a Credit Card? http://www.themint.org/documents/parents _teachers_love_the_idea.htm The Credit Card Mystery http://www.econedlink.org/minute /archive/minute_981005.html How to Choose a credit card http://www.nice.emich.edu
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