Chapter Excerpt

Protect Yourself and Your Credit An excerpt from Chapter 3 to The Unofficial Guide to Beating Debt by Greg Pahl: P.T. Barnum is widely believed to have said, "There's a sucker born every minute." Actually he didn't say that. The quote was falsely attributed to him by a show business rival in a newspaper interview. But Barnum, ever the savvy promoter, did nothing to dispel the free publicity. Regardless of who actually said it, the comment is as relevant today as it was in the nineteenth century. Maybe even more so. You have to be constantly on your guard to protect your credit rating, your financial rights, your credit accounts, even your good name and reputation, from a host of perils. But now that your wallet is equipped with a shiny new credit card or two, you're probably itching to venture out into the marketplace and flex some of your newfound purchasing muscle. Okay, but before you do, I urge you to read the next two chapters. Even if you are a relatively seasoned financial veteran, I think you will learn some new tips that could potentially save you hundreds--maybe thousands--of dollars. Establishing credit for the first time may be a short-term hassle for the beginner, but protecting it (and yourself) can be a full-time, ongoing job for everyone. Don't believe me? You soon will.

In the next few pages, we'll start by looking at some commonsense ways to help you keep your credit rating safe. Then we'll explore the maze of federal consumer credit laws in greater detail and look at how they can protect your interests in a variety of different situations. I'll tell you the best ways to resolve your billing problems and explain what your creditors are required to do under the law. And if they don't, I'll tell you about your options. Finally, I'll offer tips on how to protect yourself against the many forms of fraud and theft that are lurking in the shadows, just waiting to take your money--and even your identity. It can happen. Don't be a sucker.