Chp 9 Credit Management

What consequences does a person experience if they have a low credit score?

What are some alternatives to using credit?

Something that is owed that will decrease future earnings.

A ____________ is the amount of debt a consumer has at a given point in time.

Which of the following is not a negative aspect of using credit?

A person's financial personality is..

Of the following, which is not a result of a credit problem?

An organization that provides debt and financial management advice and services to people with debt

problems at little or no cost is called a _________________________.

Taking of collateral when a borrower fails to repay a loan.

Perhaps the most serious type of repossession, when there is a forced sale of a property, such as a house,

is ____________.

Which of the following always results in lost ownership of property?

Legal state in which the courts excuse a debtor from paying some or all debt.

Eliminates most types of debt and stays on a person’s credit report for up to ten years.

Permits debtors with regular incomes to pay all of a portion of their debts under the protection and supervision of the court.

What type of debt cannot be wiped out by declaring bankruptcy?

Of the following, which is not a result of a credit problem?