1. The Fair Credit Reporting Act identifies your rights regarding your credit. Synthesize a scenario where your credit has been damaged (history of late payments, foreclosure, bankruptcy, etc. This can be a situation you create in order to fully illustrate the concepts). Explain the scenario and the steps necessary, in detail, to repair your fictitious damaged credit rating. From your readings in the text, estimate how long it will take for you to improve your score.

2. Mary Stevens of Denver, Colorado, had taken her brother to an expensive lunch to celebrate his job promotion. When it came time to pay the bill, Mary noticed that her Visa credit card was missing from her wallet, so she paid with her Mastercard. While driving home, Mary remembered that she had last used her Visa card a week ago. She became concerned that a salesperson or someone else could have taken it and might be fraudulently charging purchases on her card.

a. Summarize Marys legal rights in this situation.

b. Discuss the likelihood that Mary must pay Visa for any illegal charges to the account.