Money Matters chapter 18 & 19

One way to minimize the cost of credit is to

In credit card fraud, both credit card holder's and merchant's liability is limited to $50.

Exercising good credit management means

Money paid for the use of someone else's money is called

A scam using online pop-up messages or e-mail deceiving you into disclosing personal info

Chapter 13 bankruptcy is often referred to as straight bankruptcy.

Both creditors and debtors have responsibilities to each other.

Most credit transactions, the standard practice is to use 360 as the number of days in a year

Creditors may ask debtors to agree to pay their debts,even after bankruptcy has discharged them

Once declared bankrupt, an individual cannot file for bankruptcy again for several years.

Gold and platinum credit cards almost always improve your credit rating

You should beware of any credit-assistance company that

You can compare shop for goods like furniture, but for credit, it can ruin your credit rating 

In bankruptcy, most of a debtor's resources will probably be used to repay unsecured debt.

Simple interest is interest computed on the amount borrowed(or saved), plus compounding.

Secured loans generally have variable interest rates that are higher than other forms of credit

The two-cycle billing method results in a lower finance charge than most other billing methods.

By law, credit-assistance companies may not charge you until they have performed the services

Borrowers find that interest rates for loans go up faster during periods of rising prices

You receive a payback in form of points to be redeemed for merchandise if your account has a 

Which of the following is a reorganization form of bankruptcy for business

With this type of debt adjustment, a finance company lends you money to pay off debts

When you buy an item that serves as collateral, you are taking out a

At the FTC website, you can find consumer information about credit traps to avoid.

Which of the following is most likely to be an impulse purchase

Which of the following is NOT an example of a creditors' responsibilty to a consumer

Credit counseling services offer low-interest loans to people who have overextended credit

Don't increase spending when your income increases; instead, use extra income to pay off debt

Which of the following is the main advantage of Chapter 7 bankruptcy

In most states, it is not possible to file for bankruptcy without an attorney.

The unpaid portion of a loan is called

When you have insufficient income and assets to pay your debts, you are said to be

Credit problems usually happen quite suddenly.

Generally, accounts with high interest rates should be your first priority in a credit payment

With a debt adjustment service plan, a counselor takes complete control of your finances

Never respond to e-mail requests for personal information such as your social security number

Credit card frauds costs businesses and consumers millions of dollars each year.

When creditors use average daily balance method, they impose a finance charge on entire amount

Bankruptcy won't affect certain types of income a debtor may have, such as Social Security

By law, installment contracts must reveal the finance charge and the APR.