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Essay / Research Paper Abstract
This 4 page paper talks about problems with identity theft and why freezing credit is not the answer. Several examples are provided.
Bibliography lists 2 sources.
Page Count:
4 pages (~225 words per page)
File: RT13_SA527cc.rtf
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Unformatted sample text from the term paper:
believe that with excellent credit they will never have a problem purchasing an automobile or the home of their dreams. Of course, many people can attest that the loss of
a job, or a serious illness not covered by medical insurance, can create significant financial problems that result in a loss of good credit. Sometimes just ignoring a credit card
bill once or twice will jack up a low percentage rate to a whopping twenty-five percent or more. Other credit card companies get wind of the breach and they too
are allowed to increase the rate. And while such things can ruin an otherwise excellent credit history, what is more frustrating is that people, through no fault of their own,
can end up in serious debt and lose their good name due to identity theft. There are presently about seven to ten million people who are the victims of
identity theft every year ("Reducing," 2003). Estimates vary, but identity theft obviously costs a lot of money to those who have been defrauded in lost opportunities as well as
in time and money to correct the problem. Phishing, and other techniques designed to steal the identity of consumers, has received much attention. With a recent major breach of
credit history, some consumers want to freeze theirs and not allow for new credit transactions to be approved until he or she decides to remove the freeze. Of course, this
means that no new credit can be approved without a significantly complicated move. Here, credit thieves cannot get instant credit and drive a car out of the showroom with a
social security number for example, but this means that neither can the consumer. While some consumers believe that they are protecting themselves from being scammed, freezing credit is not
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