Font size
WorksheetsChapter 12 Business Law
Total questions: 25
Worksheet time: 8mins
A creditor is...
a person or company whom money is owed
a person who owes moeny
anyone with a credit card
a banker
A debtor is...
a criminal
someone who didn't eat
a person or institution that owes money
a person that is owed money
Fair debt collection parties act protects who?
Mainly debtors
Mainly creditors
old people
the law system
Credit repair organizations may charge you..
before providing sevices
after providing services
while providing services
whenever they feel like
Equal credit opportunity act works to..
prevents discrimination of race, age, gender, marital status etc
help certain people
benefit elders
help anyone making 70k or more a year
bankruptcy can be filed by...
only the debtor
only the creditor
either the creditor(s) or the debtor
anyone
Avoiding bankruptcy can be done in many ways except..
not owning a credit card
being responsible with money
work with creditors for help
making bad credit choices
How much debt must a person have for a creditor to file bankruptcy on them?
$1,000
$5000
$10,000
$11,625
The two main types of bankruptcy are
voluntary and involuntary
voluntary and peoples choice
involuntary and peoples choice
government and federal
How many types of bankruptcy are there?
1
2
3
4
Filing bankruptcy will most likely make your credit score...
lower
higher
stay the same
slay
Exception's to discharge may include..
low student loans
debt caused by fraud
back taxes
dunkin tax
The sale of debtor's property and items to pay off debt is controlled by the...
Administrations of the debtor’s estate
queen of englan
the debtor
the creditor
Family farmers bankruptcy requires what percent of debt to result from farming or fishing expenses?
10%
50%
20%
90%
Through repayment plan bankruptcy the debtors must pay back how much per month?
$100
$500
$50
$700
There are two main categories of bankruptcy
True
False
Within the two categories, there are 4 main types of bankruptcy
True
False
Anyone can file bankruptcy on anyone
True
False
Overtime filing bankruptcy can help your credit
true
false
Some debts can not be discharged
true
false
Repossession is when a creditor reclaims property if the debtor refuses to pay
true
false
Consumer credit protection act protects mainly creditors
true
false
The Fair Credit Billing Act requires creditors to correct billing errors brought to their attention
true
false
Bankruptcy can not be avoided
true
false
Liquidation bankruptcy requires debtors to sell most of their property and pay their creditors from the proceeds.
true
false
