Personal Finance 6

Provides a temporary loan at a high interest rate until your next paycheck?

• Pay Day Loan

• Rent-To-Own

• Home Equity Loan

• Chech-Cashing Loan

What are the Five "C's" of Credit?

• Character, Capacity, Capital, Collateral, and Condition

• Calm, Cool, Collective, Cavalier, and Composed

• Capital, Caring, Credit, Consumer, Customer, and Client

• Character, Capacity, Collateral, Compassion, and Capital

FICO Credit Score ranges from?

• 450-1000

• 350-850

• 501-990

• 300-800

Law requires out-of-date information to be deleted; and gives consumers access and the ability to correct misinformation. Also places limits on who can obtain your credit report.

• Equal Employment Opportunity Commission (EEOC)

• Fair Credit Reporting Act (1971)

• Southern Christian Leadership Conference

• Americans with Disabilities Act

Gives all applicants the same rights. Credit providers may not discriminate based on: Race or nationality - prohibits redlining, Age, Social Security or Public Assistance, Sex or Marital Status.

• Southern Christian Leadership Conference (SCLC)

• Americans with Disabilities Act

• Equal Employment Opportunity Commission (EEOC)

• Equal Credit Opportunity Act (ECOA)

Notify creditor of error in writing within 60 days; Pay the portion of the bill not in disputer Creditor must respond within 30 days. Credit Card Company has two billing periods but no longer that 90 days to correct your account or tell you why they think the bill is correct.

• Americans with Disabilities Act (ADA)

• Fair Credit Billing Act (FCBA, 1975)

• Equal Employment Opportunity Commission (EEOC)

• Fair Credit Reporting Act (1971)

What is the meaning of Negotiation regarding Personal Finance?

• Trust what is written and signing.

• Taking a loan as it is presented.

• Bargaining on your own behalf for a better deal.

• Paying upfront.

Which answer is not one of the three major Credit Bureau Agencies that collect information on how promptly people and businesses pay their bills?

• Carfax

• TransUnion

• Experian

• Equifax

U.S. Bankruptcy Act of 1978, Chapter 7

• Three-year plan

• Time saving plan

• Straight bankruptcy

• Wage earner plan

U.S. Bankruptcy Act of 1978, Chapter 13

• Wage earner plan

• Straight bankruptcy

• Time saving plan

• Three-year plan