Personal Finance Ch. 8 Flashcard

Front

If you file for Chapter 7 Bankruptcy, you will have to sell most of your assets.

Back

True

Front

A mortgage is an example of closed-end credit.

Back

True

Front

Mr. Palacio has his car loan with Wells Fargo. Wells Fargo is referred to as a:

Back

creditor

Front

If you are getting many instances of credit card charges that are not yours and you are receiving debt collection calls/notices for bills that are not yours, what is the FIRST step you should do?

Back

file an initial fraud alert with one or more credit bureaus

Front

A shorter term auto loan means _______ monthly payments and _______ total interest that you pay.

Back

higher, less

Front

In a Chapter 13 bankruptcy, the debtor usually gets _______.

Back

to keep most of their property

Front

An example of open-end credit is a(n) _______.

Back

credit card

Front

If Kai files for Chapter 7 bankruptcy in 2022, it will remain on his credit report until:

Back

2032

Front

In addition to Trans Union and Equifax, which is the other credit bureau?

Back

Experian

Front

Everyone can receive a free credit report annually from: AnnualCreditReport.com, GetMyCreditReport.com, CreditReport.gov, FreeCreditReport.com

Back

FreeCreditReport.com