Three Monthly Credit Card Please Read This Contin

Questions

1. What steps should Jamie Lee take to discover the reason for the denial of her credit applications?

2. Jamie discovers that she has become the victim of identity theft, as her credit report indicates that two credit cards have been opened in her name without her authori- zation! The police had already been notified the evening of the theft incident in the apartment, but what other measures should Jamie Lee take now that she has become aware of the identity theft?

3. Fortunately for Jamie, she was able to show proof of the theft to the credit bureau and her credit applications for her apartment furnishings were approved. The purchase total for the appliances, living room furniture, and television amounted to $4,250. The minimum payments among the three accounts total $325 a month. What is Jamie Lee’s debt payments-to-income ratio?

4. Oh, no! The television was finally delivered today but was left on the porch by the delivery company. When Jamie Lee was finally able to attach all the wires and cables according to the owner’s manual, it played for half an hour and then shut off. Jamie Lee was unable to get the television to turn back on, although she read the trouble- shooting guide in the manual and contacted the manufacturer’s tech support. Jamie Lee lugged the television back to the store, but they would not accept a return on electronics. What should Jamie Lee do now?

5. Jamie Lee now has to juggle the three monthly credit card bills for each of the retailers where she purchased her home furnishings. She is interested in getting one loan to consolidate the three store consumer credit cards so she may make a single payment on the goods per month. Using Your Personal Financial Plan, sheet 17, compare the consumer loan options that Jamie Lee may consider. What are your recommendations for her to consolidate her monthly consumer charge bills?

Notes:

Write the answers on word doc.