An attorney can prove helpful for a real estate transaction

Dear Bruce: I am in the process of purchasing my first house. I've asked my real estate agent to provide copies of the closing paperwork before I am required to sign. He said no, because the escrow company gets all that information the day before the closing. Is this true? Should I demand to review all the closing paperwork beforehand? &#8212; Juan, via e-mail

Dear Juan: Your real estate agent is reciting a lovely fairy tale. I don't have to ask the question: I know counsel is not representing you. You're treading where angels fear to go. They want you to sign things that you haven't reviewed, don't understand and, even upon reviewing, probably still won't understand. Please do yourself a kindness and find a real estate attorney who can handle the entire transaction for you. He is well worth the cost. It's likely that nothing will go wrong, but if things do, they can go drastically &#8212; and expensively &#8212; wrong.

Dear Bruce: I have $10,000 in credit card debt that I am steadily paying off. I only have $700 in my &quot;emergency&quot; savings fund. During the next four to six months, would it be better to pay down the debt or put money in my emergency fund?

I am 39 years old; my income is $44,900 a year; I'm single with no children; and I have only one other debt, a student loan for $2,000. My plan is to pay off the credit card in 2 1/2 years, but I will need to extend that if I use the next six months to save. I have cut out everything (cable TV, fancy coffee, movie clubs, etc.) to have more money each month for the debt or savings. &#8212; R.P., via e-mail

Dear R.P.: Paying off the credit card debt is the only way to go. While traditional wisdom says an emergency savings fund is important, it has been relegated to the trash heap for those people who have credit available &#8212; as you do with your credit card. In other words, the odds of having an emergency are relatively remote. If there is an emergency, be clear about true emergencies versus a hiccup; if that money is necessary, you can use your credit card until such time that you can arrange for more reasonable financing. I would keep whacking away at the student loan and credit card debt. You also have taken the other step &#8212; living closely &#8212; so you'll have more money to pay off the debt. Congratulations on your mature attitude.

Dear Bruce: I have several charge-offs on my credit report. My report shows the same debt twice, one by the original creditor and the other by the debt collector. Is there a way of erasing these &quot;dups&quot;? I plan to settle the debt; however, I am concerned it will still appear as if I owe a lot. &#8212; I.M., via e-mail

Dear I.M.: It's not good to have charge-offs on your credit report. If there is duplication, do whatever you can to eliminate it. Write the credit-reporting agency and ask it to &quot;reaffirm the obligations,&quot; explaining that there is a duplication. The creditor is obliged to reaffirm, and generally the original collector will not, but the debt collector will. Don't neglect this. Time is your enemy.
