CREDIT by leader6


									to reduce your payments. They may be            Have A Consumer Complaint?
willing to work with you if you’ve paid
promptly in the past.

  An alternative solution is to contact the
                                                Need Consumer Information?         CREDIT
Consumer Credit Counseling Service. It               Need A Speaker?                   GET IT,
is a non-profit organization that works to
arrange a repayment plan agreeable to                                                  USE IT,
both the consumer and creditor.
                                                                                   DON’T ABUSE IT!
  Be wary of advertisements that promise
“instant credit” or credit cards
“regardless of past credit history or lack
of credit”.    These operations usually
cannot keep their promises to repair or
clean up credit histories.

  Beware of companies that claim to offer        DELAWARE COUNTY
assistance in solving debt problems! Be         OFFICE OF CONSUMER AFFAIRS
sure you understand the services offered                      and
and possible hidden costs. Your home          WEIGHTS AND MEASURES
could be required as collateral!

NOT TO LET IT HAPPEN IN THE                          MEDIA, PA   19063
FIRST PLACE!                                                                            DELAWARE COUNTY
                                                                                   OFFICE OF CONSUMER AFFAIRS
                                                                                     WEIGHTS AND MEASURES
                                                 PHONE: (610) 891-4865               Government Center Building
                                                      FAX: (610) 566-3947                Media, PA 19063
                                                    EVELYN YANCOSKIE
                                                                                          (610) 891-4865
                                              DIRECTOR              CHIEF SEALER
                 CREDIT                        to a credit bureau so it becomes a part of     right to have a 100-word explanation
                                               your credit history.                           included in your credit report. Your
  With credit you have the power to buy                                                       credit report will explain how to submit
now and pay later. Unless you can pay in       Q: I’ve Used Credit For Years, But Only        your statement for inclusion.
cash for a car or home, access to credit is    In My Spouse’s Name. How Can I Get
essential! A GOOD CREDIT RATING                Credit In My Own Name?                                          USE IT
                                               A: If you are currently sharing an               Once you have established credit, use it!
Q: How Is Good Credit Determined?              account with your spouse, notify the           Make small purchases each month - $10
                                               creditor in writing to report it under both    or $20 is adequate. Pay at least the
A: Lenders will generally contact your         names. This is your right under the            minimum on your bills before the due
local credit bureau for a copy of your         “Equal Credit Opportunity Act”, and the        date stated. It is a good idea to pay the
credit report. Your bureau report is           creditor is obliged to do so at your           bill in full, as doing so will save you a
based on information supplied by prior         request. Include in the request your           sizeable amount in finance charges (Be
creditors about your payment habits. It        social security number and full name.          aware that most cards have finance
includes payments made on credit cards                                                        charges as high as 18%). Use your credit
and installment loans. It reveals how          Q: My Credit Application Was Rejected,         card wisely – never charge more than you
timely payments were made, whether you         What Should I Do?                              can comfortably afford.        Now, start
paid the loan in full, or if the account is                                                   building your credit history and prove
still open and the credit limit currently on   A:    The creditor who rejected the            you are a good credit risk.
the account. Other information that may        application must identify the credit
be included is where you live and work, if     bureau that reported your credit history         When using credit, proceed with
you have ever been sued, and matters           as negative. Within 30 days of rejection,      caution – it is very easy to overextend
such as judgments or bankruptcies. After       you can write the credit bureau for a free     your credit. Remember that you must
reviewing how you’ve managed past debts        copy of your credit report.                    have the money to pay for anything you
lenders can determine if you will be a                                                        charge. Take your increased buying
good credit risk.                                Make sure the information in the file is     power very seriously.
                                               accurate. If it is inaccurate, correct it by
                 GET IT                        contacting the creditor.       Explain the                DON’T ABUSE IT
                                               problem and have them inform the credit
Q: What If I’ve Never Had Credit?              bureau of the error. Request a copy of         Q: I Have Credit, But I’m Having
                                               the correction be sent to you.                 Trouble Keeping Up With The Payments.
A: A good way to begin building credit is                                                     What Can I Do?
to apply for a credit card with a local          Some information can only be deleted
business, such as a department store.          by the passage of time.           Negative     A:    Don’t wait until your bills are
Another option is to borrow a small            information is reported for seven years,       forwarded to a collection agency!
amount from a credit union or bank             and bankruptcies for ten years. If the         Acknowledge your problem at the very
where you already have checking or             unfavorable information is accurate but        beginning by contacting your creditors.
savings accounts. Be sure they report it       not a result of your actions, you have the     Try to work out a modified payment plan

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