Personal Finance Chapter 9 Review

One purpose of bankruptcy law is to ensure fair treatment of creditors.

• True
• False

When a debtor files bankruptcy, he/she must give up all owned property.

• True
• False

Chapter 17 bankruptcy is intended for business owners.

• True
• False

Consumers have the right to one free copy of their credit reports annually.

• True
• False

While a billed amount is in dispute, the creditor cannot charge interest on that amount.

• True
• False

A consumer has 90 days from the day a bill is received to file a dispute.

• True
• False

A person can be forced into involuntary bankruptcy if creditors petition the court to do so.

• True
• False

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 made it easier for consumers to file chapter 7 bankruptcy.

• True
• False

The Fair Credit Billing Act requires credit card companies to have billing error policies and inform their customers how to report errors.

• True
• False

It is unlawful for a debt collector to call you at your place of work.

• True
• False