Personal Finance Test Ch. 10-13

Getting a loan from a finance company to help pay off your debt:

• debt consolidation

• debt settlement

• credit repair

• 20/10 rule

The process of reestablishing a good credit rating:

• debt management plan

• credit counseling

• credit repair

• reconcile

Following an individual plan for using credit wisely:

• credit repair

• debt settlement

• debt plan

• credit management

Having a company negotiate with creditors on your behalf to reduce the debt you owe:

• debt settlement

• bankruptcy

• reconcile

• credit counseling

A record of your debts and a strategy for paying them off:

• credit payment plan

• debt management

• credit payment plan

• 20/10 Rule

Making a single monthly payment to a credit counseling organization that then distributes the funds to creditors based on a payment schedule:

• Bankruptcy

• debt management plan

• Options

• Payment Plan

A service to help consumers manage their debt load and credit more wisely:

• credit management

• credit consolidation

• credit counseling

• credit repair

A legal process that relieves debtors of the responsibility of paying their debts or protects them while they try to repay:

• bankruptcy

• exempted property

• discharged debt

• Chapter 7

A liquidation form of bankruptcy for individuals

• Chapter 7

• Chapter 13

• Voluntary bankruptcy

• reaffirmation

A reorganization form of bankruptcy for businesses:

• Chapter 11

• consumers

• Chapter 57

• Chapter Credit