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Reel Estate Show Place Sept 1978 The Law and You Continued from page 5 Itemized price list the goods a detailed statement of the terms payment the actual cost of all finance charges shown in dollars and cents and as a percentage anything paid as a down payment a tradein or any other credit or security all additional charges which demanded if you fall behind payments Q Some time before Christmas my wife and I bought a new color television sit We signed an executory contract and agreed to pay in four instalments We My husband business went into bankruptcy several years ago will this always affect his credit rating A Afterseventtlyeorsall reference to a consumers previous Bankruptcy must be removed from his credit record unless he has been bankrupt more than I am being at home and at work by a collection agency Can they do this A The Collection Agency Act of Ontario requires that all collection agencies be registered and registration will not be granted unless the agency has a history of financial responsibility Continued from page id heal met valve look for ill no Ihe wells will run dry should mills to the by laipink hem in lop llu Hut irnifuny llul lulf Toronto Jiid how I think I may have a bad credit rating How can I find out A The Ontario Consumer Reporting Act passed in 1973 provides that every consumer may enquire of a reporting agency whether or not a file Is maintained concerning his credit standing The con request be in writing and the information must be supplied without charge aged the first three payments good conduct Complaints but make the fourth concerning the practices of Now the salesmen Is coming to our door demanding the return of the set I refused to let him In the door and also refused to hand over the set Was I within my rights in doing so A The Consumer Protec tion Act states that where a buyer under an executory contract has paid twothirds or more of the purchase price of the goods as fixed by the contract and if the buyer then defaults In payment then the seller may not retake possession of or resell the goods without a court order lie he has to obtain leave of a County or District Court Judge to do so When the seller demands to be let in you arc entitled to refuse him entry It is your property and his refusal to leave amounts to trespass Remember however that you arc still required to pay the balance owing needed to make emergency repairs to my home I I get a bank loon and being desperate I borrowed from a finance company I now think that the cost of the loan was ex Is there anything I can do a person the right to have a court determine whether the cost of his mortgage small loan or consumer purchase Is harsh and unreasonable Whether or not there is a substantial discre pancy the court will not concern Itself with minor discrepancies in the cost of the transaction may be deter mined by considering the market rate of borrowing in the particular location and at that particular time It is helpful if one can show that the vendor lender and the purchaser borrower were not In equal bargaining lions due to education and or lack of financial expertise resulting in an unfair ad vantage to the dor lender It the cost is determined as excessive and the terms are harsh and unreasonable the court may in effect the con tract so as to reflect the true coat of the mortgage loan or purchase or order the creditor to reimburse the debtor for Ihe excessive amount Can I challenge mistakes in any credit report concerning myself A Where a consumer disagrees with Information in his file he may require the agency to re- Invest gate and make appropriate changes to the report If the consumer is still he may apply for a ruling of the Registrar Registrar of Consumer Reporting Agencies Ministry of Consumer and Commercial Relations Street Toronto Ontario M4Y 13 Estate Homes in a country setting close to Main Street Each lot 100 x 325 ft Custom designs sq ft homes choose your own design Town water supplied Good selection in exclusive area Bank financing FROM 98i AND UP Trade in your old house Chateau Belair Developments CONTACT TOM REED or PHIL CARNEY 74 Mill St 8770633 GEORGETOWN 8776121 belair A CHATEAUX