Study guide chapter 9
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | False
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| Unfortunately errors on billing statements cannot be disputed. | show 🗑
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| If you find you are a victim of identity theft you should quickly close or freeze your credit accounts. | show 🗑
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| One of the warning signs that debt has become a problem is that your cred card balances are at or near your credit limit. | show 🗑
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| show | False
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| show | False
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| Which of the following is NOT one of the Big Credit Bureau | show 🗑
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| Sara Wong has a house valued at $189,900. Her mortgage is for $130,000. How much money can she borrow with a home equity loan if the bank will lend 60 percent of the equity in her home? | show 🗑
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| Jacki Sanchez has a house valued at $325,000. Her mortgage is for $230,000. How much money can she borrow with a home equity loan if the bank will lend 80 percent of the equity in her home? | show 🗑
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| show | Debt settlement
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| All of the following are reasons consumers get into financial trouble except: | show 🗑
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| Your credit card was stolen. You reported the theft within 2 hours. After the theft was reported, the thief charged $4,500 at a jewelry store and $2,500 at an electronics store. How much of the fraudulent charges will you have to pay? | show 🗑
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| show | involuntary bankruptcy
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| This service is available through nonprofit and government sponsored organizations | show 🗑
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| show | arbitration
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| Millions of consumers get into financial trouble because they have too much | show 🗑
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| You filing bankruptcy & have these outstanding debts: Credit card balances $18,000 Unpaid medical bills $21,000 Student loans $14,500 Bank loan$3,200 Delinquent child support $5,800 How much of your debt will be discharged in a Chapter 7 bankruptcy? | show 🗑
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| Who grants a person Bankruptcy? | show 🗑
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| Which of the following is NOT a way to avoid bankruptcy? | show 🗑
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| What are the three most common types of Bankruptcy? | show 🗑
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| show | voluntary bankruptcy
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| show | Income tax return
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| show | Lower interest rates
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| All of the following are reasons for Bankruptcy except | show 🗑
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| show | debt consolidation
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| show | Chapter 11 Bankruptcy
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| show | Chapter 7 Bankruptcy
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| Entails adjustments of debts for an individual with regular income, designed for an individual debtor | show 🗑
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| show | Chapter 13 Bankruptcy
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| Instead of a total lose, this bankruptcy allows repayment of some but not all of the debt to their respective creditors. | show 🗑
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| Most debts can be discharged. | show 🗑
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| show | Chapter 7 Bankruptcy
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| Allows companies to keep their things while repaying debts | show 🗑
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| This bankruptcy is associated with large corporations | show 🗑
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| show | Chapter 11 Bankruptcy
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| show | fraud
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| A(n) __________ is a second mortgage or debt secured with the equity in your home. | show 🗑
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| __________ is a legal process that allows part of an employee’s paycheck to be withheld and sent directly from the employer to the creditor. | show 🗑
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| The process of helping consumers resolve problems with creditors and others is called __________. | show 🗑
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| The __________ Act protects consumers from discrimination in the granting or denying of credit. | show 🗑
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| show | repossess
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| With __________ scams, a company claims to be able to “fix” your poor credit record and give you a clean credit history. | show 🗑
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| To help monitor your credit file, you may want to enroll in a(n) __________, which is a plan that provides credit monitoring for a fee. | show 🗑
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| show | plaintiff
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| A(n) __________ is a court order that pardons the debtor from having to pay debts. | show 🗑
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Ms.Ayodele