Lying to collect a debt is a violation of the:A.Truth in Lending Act.B.Equal Credit Opportunity Act.C.Fair Credit Reporting Act.D.Fair Debt Collection Act.

Which credit protection law requires credit bureaus to maintain an accurate reporting of your credit?A.The Truth in Lending ActB.The Fair Debt Collection Practices ActC.The Fair Credit Reporting ActD.The Equal Credit Opportunity ActSUBMITarrow_backPREVIOUS

Which right does the Fair Debt Collection Practices Act (FDCPA) give borrowers?A.The right not to receive phone callsB.The right to verify the amount owedC.The right to negotiate debtD.The right to declare bankruptcy

Issuing debentures, notes or mortgages are all examples of increasing long term debt True False

there are some that make the preposterous claim thatdefaulting on the debt would be advantageous.

Quick quiz – True/False ◼ Credit has the potential to encourage overspending and ties up future income. ◼ With open-end credit, the borrower pays back a onetime loan in a specified period of time and with a specified number of payments. ◼ With closed-end credit, the borrower is permitted to take loans on a continuous basis and is billed for partial payments periodically. ◼ The finance charge only includes the interest charge, and excludes fees and charges. ◼ Credit information from a credit rating agency can be obtained by anyone on themselves or anyone else online ◼ Bankruptcy should be regarded as a last resort because of the severe consequences