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REVIEW FOR PF !
What Is Debt Snowball?
Debt Settlement is not part of Debt Relief
REVIEW FOR PF !
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Questions
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Answers
1
Debt Settlement is not part of Debt Relief
True
False
2
What Is Debt Snowball?
Keep it all the same
Devote a small percent to different companies
devote a set amount of money to small debts
devote a lot of money to small debts
3
Tax Debt Can lead to a seizure of you property
False
True
4
Child Support can lead to seizure of property
False
True
5
Lenght of Credit history isn't a factor within credit calculation
False
True
6
One of these are not a strategy to get out of debt
Pay more than Minimum
Save a consistent amount each pay period
Increase your Income
Create a New Budget
7
Within the credit calculations, Payment history takes up how much % of the calculation?
15
30
10
35
8
What percent does Types Of Credit make up within calculating credit score?
35%
15%
30%
10%
9
Mortage Loans can not lead to a seizure of your property
True
False
10
Debt Management Plan
Will relieve debts that you cannot afford to pay in any manner.
True
False
11
Debt Settlement
Can significantly reduce total owed in debt
True
False
12
What percent does Amount owed make up within calculating credit score?
30%
35%
15%
10%
13
What percent does New Credit make up within calculating credit score?
10%
30%
15%
35%
14
Which of these are a factor within the calculation
Credit Loss
Interest Rates
New Credit
APR
15
Debt Management will Freeze your credit cards
True
False
16
One of these are not part of debt relief
Bankruptcy
debt management plan
Do-It-Yourself
Pay yourself
17
Which of these will relief debts that you cannot afford to pay in any manner?
Bankruptcy
Do-It-Yourself-
Pay yourself
Debt Management Plan
18
What types of loans could result in the seizure of your property?
Parent Loan
Auto Loan
School Loans
19
How many factors are taken into account when calculating a credit score?
6
5
4
3
20
Define High Rate Method
smallest balance paid first
largets balance paid first
Highest interest rate take priority
Lowest Interest rate
