National Credit Education Week (April 25 - 29, 1994)
Five 60-Second Radio Public Service Announcements
Produced & Distributed By Usable News Productions

Dawn Lockhardt Of Consumer Credit Counseling Service On Recognizing Debt Problems

Being able to recognize debt problems is critical to your financial well-being.  Common warning signals include:  making only the minimum payment due each month; not talking with your spouse about money; talking only about money; or, allowing your indebtedness to go beyond your ability to repay.  Dawn Lockhardt of the Consumer Credit Counseling Service says these warnings are often ignored ...

"If any of these warning signals apply to you, step back and take a hard look at your household budget and come up with ways to reduce expenses.  That's easier said than done.  But, you can't ignore your credit problems.  Your long-term financial security demands that you take action."

Write down this toll-free number:  (800) xxx-xxxx.  Again, (800) xxx-xxxx.  Talk with someone at the consumer credit counseling service who understands debt problems and how you can deal with them.  A public service announcement from the Financial Empowerment Campaign, AT&T Universal Card Services, and this station.

Chris Lewis Of The Consumer Federation Of America On Understanding Your Credit Report

Have you ever taken a look at your credit report?  If not, you should!  It may contain inaccurate or incomplete information that is being used against you.  Credit reports are maintained by private credit-reporting agencies and made available to creditors who may be considering loaning you money.  These reports contain detailed information about your credit history.  Chris Lewis of the Consumer Federation of America says it's a good idea for everyone to periodically review their credit report ...

"You may have to wade through a lot of fine print, but you need to see the information potential creditors are using to pass judgment on you.  If you find inaccurate or incomplete information, fill out the consumer dispute form provided.  You should also contact the creditor who's reporting the information."

Lewis says that creditors are required to investigate your complaint and to send copies of your revised report to creditors who received the flawed information.  You're also entitled to have a one-hundred word statement detailing your side of the story included in your credit report.  A public service announcement from the Financial Empowerment Campaign, AT&T Universal Card Services, and this station.

John Barker Of The National Fraud Information Center On Avoiding Credit Card Fraud

Billions of dollars each year are fraudulently rung up on credit cards.  Unsuspecting consumers continue to be victims of credit card scams.  Many of these frauds start with a friendly voice on the other end of the phone saying you've won a fabulous cash prize or trip -- as long as you provide some simple information, like your date of birth and credit card number.  John Barker of the National Fraud Information Center says these words should sound an alarm ...

"Treat your credit card number just like cash.  You wouldn't give away a handful of cash without being certain you knew exactly who was taking it or for what.  Protect yourself by asking the caller to put the offer in writing, requesting the caller's phone number, or hanging up."

If you've received a suspicious telephone or mail solicitation, call the National Fraud Information Center toll-free at (800) 876-7060.  That's (800) 876-7060.  The advice you'll get may keep you from becoming the latest victim of credit card fraud.  A public service announcement from the Financial Empowerment Campaign, AT&T Universal Card Services, and this station.

Ruth Susswein Of BankCard Holders Of America On Resolving Billing Disputes

Suppose you find a charge on your monthly credit card bill for something you didn't purchase, or that your account was not credited for items you have returned.  People make mistakes, and so do computers.  Because of this, you should always compare copies of receipts with the charges listed on credit card statements.  Ruth Susswein with BankCard Holders Of America says correcting a mistake requires a letter to the creditor within 6-days of receiving the statement ...

"While helpful, a phone call is not enough.  Send a letter that says you believe the statement contains a billing error.  Identify the amount in dispute.  If possible, include copies of sales slips.  While your appeal is being considered, you are not required to pay the amount in dispute."

The Fair Credit Billing Act requires a creditor to acknowledge receipt of your letter within 30-days, to conduct a reasonable investigation, and to send you a letter explaining either how your account has been corrected, or the reasons it does not believe a billing error has been made.  The bottom line?  Don't wind up paying for someone else's mistakes.  Check your credit card bill carefully and report errors promptly.  A public service announcement from the Financial Empowerment Campaign, AT&T Universal Card Services, and this station.

Susan Grant Of The National Association Of Consumer Agency Administrators On Spotting Credit Repair Scams

Blemishes on your credit report can be a source of embarrassment and make it difficult to get credit.  But before paying your hard-earned money to a credit repair company, consider this.  It is highly unlikely that anyone can remove accurate adverse information from your credit report.  You're much better off, says Susan Grant of the National Association of Consumer Agency Administrators, avoiding credit repair agencies ...

"Credit repair companies take advantage of people desperate to once again by credit-worthy.  Don't be fooled by claims that they can make a few phone calls and straighten everything out.  You'll end up frustrated, angry, and worse off financially."

According to Grant, there's nothing a credit repair agency can do for you that you can't do for yourself.  Get a copy of your credit report from the local credit bureau.  Take steps to correct inaccurate or incomplete information yourself.  Use the money you'll save to reduce your debt.  A public service announcement from the Financial Empowerment Campaign, AT&T Universal Card Services, and this station.