Repairing Credit

By LIFELines Staff Writer

The media is replete with offers to repair your credit, improve your credit score and make borrowing for a home, a car or other consumer products easy. The approach is the same and sounds something like this:

“Credit problems? No problem!”

“We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”

“We can erase your bad credit — 100% guaranteed.”

“Create a new credit identity — legally.”

Check out the federal consumer departments at the FTC,HUD or the Federal Reserve to find out more about these so-called credit repair programs. They are among the most predatory scams preying on those who are already in or near financial difficulty.

Lawyers at the nation’s consumer protection agency say the fact is there’s no quick fix for creditworthiness. To improve your credit report legitimately takes time, a conscious effort, and sticking to a personal debt repayment plan.

SOME FACTS ABOUT BACK-TO-SCHOOL HOLIDAYS

By LIFELines Staff

Tax holidays have become routine during peak buying periods like back-to-school, but maybe not this year.

According to the National Retailers Federation, spending on back-to-school supplies, clothing and electronics related has reached $50 billion annually despite up-and-down turns in the economy.  As a result, children returning to school are a critical period for retailers and a time for families and teachers to watch their spending.  The average savings on sales tax, because of tax holidays, is 5-percent.  However, because of economic conditions, State and local governments are questioning the tradition.

The good news; you can still count on the Navy and Marine Corps Exchanges for school related purchases.  This year’s savings are expected to run at 23% below the market, and, there is NO sales tax.

Best numbers by the Retail Merchants Association and the National Retail Federation, show families with school-age children will spend over $500 on school supplies and clothes this year.  College bound spend more, over $600, not including the standard price of books and fees.

Obviously, shopping for back-to-school is better at the Exchange.

BACK-TO-SCHOOL, BACK TO THE NAVY AND MARINE CORPS EXCHANGE

By LIFELines Staff

For several years, Navy and Marine Corps Exchanges have offered $1 deals on necessary school supplies based on school lists in their regions.  In addition, kids clothes are cut as much as 50% for back-to-school and sales continue through Labor Day.  Levis, underwear, school supplies, all sold at bargain basement prices, according to the Navy Exchange.

Back-to-school sales are a major source of funding for the Exchange system, accounting for more than 30 percent of the business for the year.

In addition, the Navy & Marine Corps Exchanges work with the Navy-Marines Corps Relief Society, operating thrifts shops at several bases that enable service members and their families to purchase used clothing and other school items at minimal cost.

Recently, the Navy Exchange Service Command hired an independent research firm to conduct a survey on how much customers save when they shop at their NEX. The group shopped for 400 products in various departments including audio, clothing, shoes, cosmetics, greeting cards, hardware, appliances, sunglasses, and toys.  The results showed that customers save an average of 23%, plus NO sales tax.