Not in charge.Q What are the best ways to reestablish your credit? Also, are there any loop-holes that African Americans African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. have missed out on because of lack of resources? --J. Freemont III, Laurinburg, North Carolina Laurinburg is a mid-sized city in Scotland County, North Carolina, United States. It is the county seat of Scotland CountyGR6. Located in southern North Carolina near the South Carolina state border, Laurinburg is southwest of Fayetteville and is home A There are no shortcuts See Win Shortcuts. to rebuilding your credit, so don't fall for any of the many credit repair scams that exist (see Verve, "Battling Online Credit Repair Scams," November 1999). Order a copy of your credit report from each of the three major credit reporting agencies: Experian (www.experian.com or 800-422-4879), Equifax (www.equifax.com or 800-685-1111) and Trans Union (www.transunion.com or 800-916-8800). Check the Websites of each credit agency to determine whether there are conditions that may qualify you for a free report, such as if you've recently been refused credit. Otherwise, credit reports are about $8 each. Inform the credit reporting agencies about any inaccuracies you find in your reports. By law they must investigate these claims and provide you with written verification from the creditor An individual to whom an obligation is owed because he or she has given something of value in exchange. One who may legally demand and receive money, either through the fulfillment of a contract or due to injury sustained as a result of another's Negligence within 30 to 45 days or these claims must be erased e·rase tr.v. e·rased, e·ras·ing, e·ras·es 1. a. To remove (something written, for example) by rubbing, wiping, or scraping. b. . If you're still not satisfied with their response, file a complaint with the National Center for Financial Education (www.ncfe.org) or with the Federal Trade Commission (877-FTC-HELP or www.ftc.gov). To avoid the credit trap in the future, only purchase items within your budget, pay off all credit card balances in full at the end of the billing period and pay your bills on time. --M.R.B. Mail your consumer questions to Ask Your Advocate, BLACK ENTERPRISE, 130 Fifth Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10011, or send an e-mail to brownmr@blackenterprise.com. |
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