November 30, 1974
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It's pay day, and just in
time. You get out your
checkbook and start writing
checks. There's the mortgage
payment, the utility bills, the
furniture payment, the department
store bills, the payment
payment, the charge card
accounts. Suddenly there isn't
enough for the insurance
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family is going to eat this
month.
So you start juggling. You
might figure out which bill you
can let slide until next month.
But that. will mean late
charges or. a double payment
next time. And if something
unexpected happens -- if your"
* kid breaks his "leg again"you'll
be up to your neck in
debt.
This predicament is be
coming more and more
common. According to the
National Foundation for Consumer
Credit, a non-profit
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or six out of a hundred
families are in . serious
financial trouble.
Inflation is just one of the
culprits. Easy credit is
another. Credit can be very
easy to get, but not so easy to
pay for.
Before you buy something
else on credit, the Better
Business Bureau suggests you
ask yourself a few questions:
_Can_ you make the
payments out of your regular
income?
How much does interest
add to your cost?
? *Are you willing to give up
part of your regular income,
Reynolds Is
Selected For
Committee
Warren Reynolds, head
basketball coach at North
Carolina A&T State University,
has been selected by
Mutual Black Network Sports
Director Ron Pinckney, to
serve on the rating committee
of black cage teams.
"Mutual Black Network is a
fine organization and I think
they have done a very
commendable job in rating
black college football teams
this past season," Reynolds
said. "This is the type of
exposure that predominately
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DiacK colleges neea in oraer 10
give teams and athletes the
credit they so rightly deserve."
*
Subscribe to
The Chronicle
> P.O. Box 3154
Winston-Salem, N.C. 27102
ing Out Of
for a number df months, for
the sake of the credit
? purchase? ? ?
Do you have any reserve to
cover an unexpected illness,
accident or loss of job?
How far is your credit
no more than 15 percent of
your monthly take-home pay,
not including^mortgage payments,
should be involved in
time payments.
^-yotr find yourself paying
more than that amount, you
better reevaluate your financial
situation:
Don't use credit cards for
day-to-day purchases. Remember
that credit costs
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money.
If you can, try to pay off
- high-interest loans quickly.But
protect long-term lowinterest
secured loans. If you
fall behind on payments, you
may have to renegotiate the
loan at a higher interest. Be
especially careful to keep up
with mortgage payments.
If for some reason won
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cannot make a montly
payment, call your creditor
and explain the situation.
Don't wait for. him or her to
contact you.
If you are swamped by
heavy debts, there are several
things you cair do.
One is taking out a
debt-consolidation loan.
Banks offer these loans at 10
to 13 percent interest;
consumer finance companies
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I NORTHSIDE
I MILLER ST.
The Winston-Salem Chronicle
Debt
charge an average of about 20
percent.
Be wary of getting help
from debt consolidators who
handle repayment of bills in
return for 10 to 25 percent of
"the amount owed:1 While some
others will take your money
and- pay off only a few
creditors. Check with the
* a '
Better Business Bureau before,
you deal with such a firm. In
some states, they are not
allowed to do business at all.
Another alternative is to
consult with a consumer
counseling service. These
non-profit credit clinics usually
charge nothing, or onlv a
nominal fee, to get you back
on -a pay-as-you-go basis,
without resoring to bankruptcy
Usually a detailed budget is
worked out between the client
and the counselor. The client-may
be asked to sign an
agreement stating he or she
will follow the budget and not
make more credit purchases.
The counselor contacts the
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a debt-repayment plan, with
smaller monthly payments
spread out over a longer
period of time.
Credit counseling services
usually deal with consumers
who are employed. However,
very often free counseling
services are offered to those
on welfare and social security.
If you want a list of such
services in your area, write to
the National Foundation for
Consumer Credit, 1819 H.
Street, N.W., Washington,
D.C. 20006.
THE MAMA Ijjf
WIG I)
I $0*2i
J Capless ?
Shopping Center I
{I
Ardmore Post Office
<* . .
P?ge S rr?
|~ "JUppuy' |
by E.L. CInorch
f~%* For
the past several months I have been observing some of
?the things that go oil at ascertain institution of higher learning ?
here. Now, I don't mean to be accusatory, but what it is, is what
U?
IS.
Why just the other day . (it was raining "cats 'n dogs").I was
the door of the student'sjjavorite building (I think it's the lounge
hall or something). Anyway. I went up to the crowd to see what
was happening. There wasn't anything going 011 except wet
people trying to get in and out of the same door.
Now, as minor as that may seem, when it's pouring down
raining and 20 people with raised umbrellas are trying to get in
and more than 20 are trying to get out of the same
door...brother you have got yourself a scuffle.
1 try to be a person of action myself. So I went to the young
lady on the desk, who. by the way, was half asleep. I asked her
if she knew who could open the other door so that the crowd
could flow a little better. Seeing as how it was raining and all.
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phone them and ask them to send someone over to take care ol.
it. She toftfr mirsomething that wouldbave made the devil sick.
Well, not easily discouraged, I approached a person who had
. a uniform on and looked extremely important. I says, excuse me
sir, could you get someone to open the other door here so people
can get in and out of the building a little better? Seeing as how
it's "raining and all?
Being a typical uniform wearer, he said "that ain't my
department. Them maintenance people take care of all that and
I know they ain't coming out here in all this rain to do
nothing...not even to get something to eat."
Well, that took all Ibad in me out. So, 1 left that place just as I
had entered...discouraged, depressed and scared as the
dickens. Something as simple as opening a door to allow better
access dtlrino fl moncnnn cHaiiM nrvf f
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institutions to get so uptight. Someone should have seen the
wisdom of opening the other dpor. Oh well, who cares anyway?
Here's hoping I can RAP to you about something next week.
AN ESCAPE PROM "SOCIAL ENSLAVEMENT"
POR THE "NEGRO" TO PREE SOCIAL BLACKNESS FOR
TODAY S BLACKS.
)tdungeon Club, Sine.
TERRIFIC BLACK ATMOSPHERE
CATERING TO PARTIES. FUNQ RAISINGS, MEETINGS.
RECEPTIONS. ETC. ~
FEATURING THE BEST IN SOCIAL ENTERTAINMENT
*" Rodney J. Sumlcr
prcsidknt 1410 n. liberty st.
919/740-9700 winston-0alkm, N. c.
p i -? ??, ???aac
LADIES NIOHT ? WEDNESDAY ? 9-1^0 AIL
Lidls Admitted Tree ? >799 Moris Poms (19) ? Special Tibiae
Special Rates for Colleffe Males
College night ? Thursday ? 9 - a aji
rMrtudac opus 1 and other bands 8p?cUI nafim With OnR?i
TtL, Sat EMtur. Artlrf 9:00 9:00 or 4:00 AJI. ? Lhr. itafrtnmmt
Sun...... Lire Entertainment'
C.LIfc'5 Kl ICHEN!
Home of Real i
-Soul Food' I
Hours: Breakfast 5:30 a.m. vm
Lunch 11 a.m. m
1247 N. Patterson Ave. M
d See Dollie for a Real Good Meal. 1
* ' r