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Show Consumers must learn how to protect their credit rating KEN M. CARL sustain Vu e Piesident timl Miuuier oj Dun I Consumer Loans 11 st One Bank By With extremely low interest rates, many consumers aie busy arranging financing for new homes, cars, iemodelmg projects, and other big ticket items. But een the best interest rates cant help out if a faulty uedit report deters lenders. Thats why it is important to piotect your ci edit rating and know where you stand bet 01 e applying for a loan. Nearly every consumer who finances a significant pm chase, such as a car, a college education, or a new house, establishes a credit history that is tracked and filed by one or more agencies called credit bureaus, (here are three main credit bureaus in the United States. These bureaus obtain your financial history mm your bank and other creditors. The history reveals it you made timely payments on outstanding loans, and if you completely fulfilled your financial obligations. It also shows the status of your revolving debt (credit cards). When you request financing from a bank, a car deal-e- i ship, and even some furniture stores, the lender will contact a credit bureau to review your credit history. From this information, the lender will determine your credit rating. For example, timely payments on an installment loan and a low balance on credit cards will impiove your rating. If a credit bureaus files contain negative information regarding late payments or loan delaults, it can jeopardize your chances for getting a loan. It's piudent to verify your credit reports accuracy periodically and correct any mistakes before you apply for a new loan. Each year, about three million consumers ask to have their credit reports changed because of wrong or old information. You can request a complete credit report at any time for a minimal fee, and in some cases at no charge. If you are denied credit due to information supplied by a specific credit bureau, you aie entitled to a free report from that bureau. But, you must contact the credit bureau within 60 days of the I Martin Doors earns awarddoor Martin Doors, a garage manufacturing company in Salt Lake, recently received the Presidents E award for excellence in exporting. This award was presented by Secretary of rejection. When you receive the report, look for old information. Suits, judgments, tax liens, arrest records and other unfavorable information must be removed after seven years. Bankruptcies must be deleted from your report after 10 years. Also, look for errors, such as mistaken identity, incorrect age, income or marital status. Some credit reports contain numbers and symbols for use by the credit bureau or lending agency. If you have difficulty deciphering the report, call the bureau for assistance. If you find a questionable entry, inform the credit bureau. Under the Fair Credit Reporting Act, the burden of ensuring accuracy rests with the credit bureau, under proposed legislation, the bureau has 30 days to investigate questionable information. In the meantime, the bureau will usually remove the questioned item from your report. If the original creditor can verify the questioned data, the entry will be returned to the report. If it is an error, it will be permanently removed and you can request that the bureau provide updated reports to anyone who has received your report in the past six months. If you feel that special circumstances resulted in a negative entry, you can submit a statement (up to 100 words) to be included with your report whenever it is requested. Also, if you have a good credit history that is not reflected in the report, you can ask that additional information be included. Contact one of the three main credit bureaus for a copy of your credit report to verify information. You may want to contact all of them, since your creditors may report information to more than one bureau. Generally, youll need to provide your full name and spouses full name, current address, previous address (if less than five years), social security numbers and birth dates. The fees vary, but they may be as high as $16 per report. Contact the bureau for further information before you order a report. The three major credit bureaus include: TRW, Inc., Equifax Credit Information Services, and Trans Union Corporation, years, also created the E award. Martin Doors started exporting five years ago to Israel. With help from the Commerce Department, business expanded to 32 countries in Europe, South America, Asia, Africa, and the Middle East. Exporting has presented many rewards and challenges to Martin Doors. International clients often visit their company for training. Brochures have been printed Two form Wholesale Carpet Two competitors have joined under one roof. Each will run their own separate floor covering business, but Sterling Sill of Sterling Floors and Mike Watkins of Mr. Carpet have joined as partners to open the first ceramic tile store in Bountiful. Wholesale Carpet, Tile & Supplies specializes in the do it yourself market. They also carry supplies for carpet and vinyl installers, as well as padding, carpet and vinyl remnants, and roll specials. Both Sill and Watkins have been in the business for over 10 years and joined forces to share the cost -A- of a showroom. Both are members of a national buy- ing group which helps them lower the costs for their customers. Instead of meeting their customers by appointment as has been done in the past, they now post hours Monday through Friday 1 p.m. to 6 p.m. and Saturday 10 a.m. to 4 p.m. Wholesale Carpet, Tile & Supplies is open Monday through Friday from 8:30 a.m. to 6 p.m. and Saturday from 10 a.m. to 4 p.m. All three businesses are located at 485 N. 500 West in Bountiful. DVERTISEMENT- Dinner Bell calling all local gastronomists less chicken breasts and high quali- ty ground beef. All dishes are Commerce Ronald H. Brown in a ceremony at the Red Lion Hotel. Four residents of Davis County have helped Martin Doors achieve this award. They include: Ken Martin, president; Larry Martin, vice president; Keith Martin, chief export officer; and Dave Haslam, territory sales director (Southwest U.S. and Northern Mexico). The prestigious E award is given to companies who improve the balance of trade by developing an export business. Presentation of the E award began during World War II, when companies who made war materials received E pennants. In a recent interview Keith Martin stated Its ironic that World War II, which forced Martin Doors to close for a few PAIR FORM NEW BUSINESS: Two competitors have joined under one roof. Each will run their own separate floor covering business, but Sterling Sill of Sterling Floors and Mike Watkins of Mr. Carpet have joined as partners to open the first ceramic tile store in Bountiful. Wholesale Carpet, Tile & Supplies specializes in the "do it yourself market." BE OUR GUESTS: Tom and Alisa Milligan are partners with Dave Milligan (not pictured) and have combined their talents to offer gourmet cuisine to Davis County residents in their new establishment the Dinner Bell. The store located at 463 W. 500 S., Bountiful offers a variety of gourmet meals for takeout. BOUNTIFUL With the carry out of gourmet meals. grand opening of The Dinner Bell on March 14, comes a new concept in dining. The Dinner Bell will be the first in the area to offer the delivery and Ordering convenient fresh meals will be only a phone call away. Due to its dedication to healthy foods, the Dinner Bell reduces fat and cholesterol by using only skin healthy, cooked one at a time, and prepared using a low fat cooking process. The Dinner Bell prepares two main entrees per night, one chicken and one beef. All meals are carefully packaged to retain heat and freshness. Adding to the pleasure of each meal are exquisite cookies. Five different savory cookies are sold as the Cookie of the Day. The Dinner Bell has been established by three individuals who have had extensive experience in the restaurant business. Dave Milligan also manages a childrens furniture store in Midvale. Tom Milligan is employed at Franklin Quest. Alisa Milligan, also works at Franklin Quest in the mornings and at the Dinner Bell in the afternoons. Having been in the busy work BETTER THAN MOM: Chicken Cacciatore, Chicken Enchiladas, and Traditional Lasagna are just a few of the Epicurean delights offered at the Dinner Bell. environment, Dave, Tom and Dinner Bell is also available to cater functions as well as provide their soon to be famous cookies and other bakery items. Alisha are acutely aware of the importance of not only a good meal at the end of the day, but also a healthy one. As the Dinner Bell expands, future plans include providing the same opportunity to order gourmet The meals at Dinner Bell range Cacciatore to Chicken Enchiladas, and from from Chicken Cornucopia Bake to Traditional meals for lunch. For now, the Lasagna, each a taste delight. The Dinner Bell at 463 West 500 South in Bountiful will celebrate its grand opening on March 14 and invites residents to drop in or request delivery of a gourmet meals that is sure to delight. in Korean, Chinese, Spanish, Arabic, Hebrew, Greek and Taiwanese. All door and hardware measure- ments have been converted to metric. Many countries also require special orders. For example in England, the standard size of a garage door is 76, as compared to 92 in the United States. Protect your nest egg With April 15 just around the comer, if you're retired, you should be taking a very hard look at some special tax considerations that can make a significant difference in your personal financial future. of the year after you turn By April 70 12, you must begin to take distributions from IRAs and other qualified retirement plans," says Blaine Nelson, Tax e of the Salt Lake City office of Deloitte and Touche. 1 Partner-in-charg- And, if your recomputed adjusted thousand gross income is above thirty-twdollars and youre married and filing a joint return, 50 percent of your social security benefit may be taxable. Starting in 1994 if your recomputed adjusted gross r thousand dolincome exceeds lars and you're married filing a joint return then, 85 percent of your social security benefit may be taxable. In addition to the regular standard tax deduction, if you are 65, you are provided with an additional deduction of seven hundred to nine hundred dollars, depending on your tax filing status. If youre visually impaired, this deduction doubles. It's important to remember that your nest egg, your pension and your social o forty-fou- security payments, may not all be tax-fre- ON ANY ORDER FOR 4 OR MORE WITH THIS COUPON (REGULAR PRICE $22.00) 463 West 500 South, Bountiful Petite &w&ed Tfteolb a&out tAe nice z For Delivery OR Carry-OLimited Delivery Area ut tad x menu. ytycit cwtfiUtfUKt&u Expires April 30, 1994 Not valid with any other offer. VFSI DELIVERY HOURS: Mon.-Fr- i. 5-- Ordering Hours: Mon.-Fr- i. 3-- 7 P.M. cmUc itt 8 p.m. Drivers Cannot Accept Tips Complete Meal Includes: Beef or Chicken Entree Fresh Mixed Vegetables Tossed Salad Dinner Beil Sourdough Bread ((?xrie & Seda rfetcUtiOKal r--i U J f V ) $e) to to |