Show Slow paying your bills Someone keeps track mortgage payment for a month or two It cant can't hurt you no one Is keeping track In this time when so many people are living on credit there is someone keeping keep keep- keeping ing track In Vernal that someone Is the Credit Bureau of Vernal Forthe For the past 24 years the Credit Bureau of Vernal has been owned and operated by Mr and Mrs Brian ONeil O'Neil This year Mrs ONeil O'Neil was elected to toa toa a year two term as president of the Associated Credit Bureaus of Utah a So what does a credit bureau do A credit bureau compiles a credit report to provide credit grantors with within within- in- in information formation they need to make reasonable granting decisions This information is obtained from credit applications submitted by the con con- consumer consumer sumer to credit grantors credit grantor records that describe how a consumer pays his or her debt or from public record Recorded on a persons person's credit report Is the consumers consumer's name address social security number and name of spouse Also recorded on the report Is the con con- consumer's consumer's sumers sumer's employer with former employers and the spouses employer is also recorded The credit report shows shows a record ot of payment of bills with credit grantors such as stores bank and credit card companies In In these times of tight money supply supply ly grantors credit are particularly cautious in extending credit to those per per- have been late 30 or more to the computer Such a number is given only to firms who have a contract with the bureau Anyone by properly filling out an ap- ap application application can see a copy of their credit record If they have been denied credit within 30 days the service Is provided free but if not there Is a small charge The Vernal credit bureau charges 5 If a person doesn't believe something is correct on his record we reinvestigate to see what the grantors grantor's records show Mrs ONeil O'Neil said In some cases the disputed records are cleared she added If the credit problem remains unresolved a person can enter up to a word statement explaining the reason for the nonpayment nonpayment or delay in payment This statement Is put on the credit report Persons can be interviewed review their record over the telephone if they send a written request Mrs ONell ONeil said Only once that I am aware of so- so someone someone meone trying to get the credit record of another person Although the l local al credit bureau relies heavily on computers they also keep a amanual amanual manual on file file When we do a mortgage report we keep a written copy on file Mrs ONeil O'Neil said Credit do not interview third parties or collect personal information on lifestyle political activities and reli religion ion This type of investigation is in paying their bills Mrs ONeil O'Neil said The Vernal credit bureau obtains the bulk of its information from credit gran- gran grantors grantors tors who supply information to TRW Credit Date In Anaheim Calif A ter ter- ter terminal minal located at the Vernal office is con con- connected to the main computer by a telephone line When credit grantors request the credit record of a consumer they must give an Identification number to allow them access through the credit bureau done by other types of agencies for tor tn- tn insurance purposes Our bureau does not do any in- in investigating investigating Mrs ONeil O'Neil said Also a credit bureau does not rate a persons person's credit as either good or bad It ItIs Itis Is merely a clearing house of Information Mainly what a credit grantor is in- in interested interested in Is a persons person's ability and will will- willingness willingness to payoff pay off a debt as indicated by past record Mrs ONeil O'Neil said According to the Utah Department of Business Regulations Consumer Affairs many con artists con artists are taking advantage of people by promising a credit card with without without out a credit check or to clear up a had bad credit record Usually these services cost the person about bout and the consumer must also open a savings account with enough money in It to cover whatever the amount their is These companies are simply charging for services provided at a much less cost at many banks or credit bureaus Dont be mislead by fa false se claims that some one is going to cleanup clean your credit report say a statement by the Associated Credit Bureaus of Utah It Is your right under Federal Law that a credit reporting agency reinvestigate consumer You dont don't have to pay for this advice Mrs ONeil O'Neil said that the ethical way to clear ones one's credit is to check the record for errors and insert an tion If disputed items cannot be cleared Good credit is the most valuable financial asset you can have Mrs ONeil O'Neil said Mrs ONeil O'Neil said that she is often ask ask- asked ed to speak at club and other meetings concerning credit bureaus because many people dont don't understand what a credit report is or or how the credit bureau can help them d 4 d L tJ DOROTHY ONEIL O'NEIL is new president of the Associated |