ch 11, Credit and Debt

Contract law applies to the purchase of vehicles (goods)

Credit that can be increased by the debtor by continuing to purchase goods or services 

when a creditor reclaims property on which it has a lien

When the government pays the interest on the loan while you are in school 

Business bankruptcy, reorganization plan

student loans may be discharged in bankruptcy, but only in cases of extreme hardship

It makes it illegal for banks and businesses to deny credit based on race or gender

the legal procedure of which a worker's earnings are withheld for payment of debt

The Consumer Credit Protection Act is also known as 

Business bankruptcy, Family Farmers

a Surety is also known as Primary Party, and agrees to pay off the debt outright

the law that requires creditors to inform consumers of the costs and terms of credit

Personal bankruptcy, repayment plan

a secondary party who agrees to pay off a debt only if debtor defaults

It requires creditors to correct billing errors brought to their attention

a loan which is backed up by property that the creditor can take if the loan is not repaid

It prohibits certain practices by debt collectors

the creditors right to use collateral to recover debt is known as

It grants people the right to know what is contained in their credit report

Personal bankruptcy, liquidation