Responsible Use of Credit & Bankruptcy (FL9&10)

Front

If your bank sends you an email asking your to respond with your pin number for security reasons, it is always important and safe to email them back with your pin number as soon as possible.

Back

False

Front

Which is a responsibility that your creditor has to you? Options: Inform you about rules and regulations, Use reasonable means of contacting you, Set reasonable guidelines for credit use, All answers are correct.

Back

All answers are correct.

Front

Which is a responsibility that you have to your creditor?

Back

Make payments on time

Front

Installment contracts must indicate the APR and finance charges.

Back

True

Front

A scam that uses online pop-up messages or email to deceive you into disclosing personal information

Back

phishing

Front

One way to minimize the cost of credit is to

Back

make more than minimum payments.

Front

Money paid for the use of someone else's money

Back

interest

Front

When creditors apply the finance charge only to the amount owed after you've paid your bill each month, which billing method are they using?

Back

adjusted balance

Front

A legal process that allows part of your paycheck to be withheld for payment of a debt

Back

garnishment

Front

The amount borrowed on which the borrower pays interest

Back

principal