Chapter 6 Credit Bureaus And Collections Practices Part II: Question Preview (ID: 14158)


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What is a key feature in computing your FICO score?
a) Debt b) Your annual gross income. c) How much money you have in savings. d) All of the above.
An overdue payment is called:
a) Foreclosure b) Repossession c) Delinquency d) Surrender of collateral
The homeowner can't make payments on the mortgage and the lender takes the property:
a) Foreclosure b) Repossesion c) Delinquency d) Surrender of collateral
To reclaim possession of an item because the borrower failed to make payments:
a) Foreclosure b) Repossession c) Delinquency d) Surernder of collateral
In a bankruptcy proceeding, a person or debtor gives up property of some value in exchange for a clean slate:
a) Foreclosure b) Repossession c) Deliquency d) Surrrender of Collateral
A collector calls you at 7:30am.. you ...
a) Tell the collector that he is violating the Federal Fair Debt Collection Practices Act. b) Tell the collectyor that you will talk to him once every two weeks and hang up. c) Send a Cease and Desist letter. d) Call the Police.
A collector blocks your driveway with his car... you...
a) Tell the collector that he is violating the Federal Fair Debt Collection Practices Act. b) Tell the collector that you will talk to him once every two weeks. c) Send a Cease and Desist letter. d) Call the police.
A collector calls you at home for the third time in a week....you...
a) Tell the collector that he is violating the Federal Fair Debt Collection Practices Act. b) Tell the collector that you will talk to him once every two weeks. c) Send a Cease and Desist Letter. d) Call the Police.
A collector continually calls you at all hours of the day, yelling, verbally abusing you, and threatening to garnish your wages...you...
a) Tell the collector you will talk to him once every two weeks. b) Send a Cease and Desist Letter c) Call the Police. d) All of the above.
Court action that allows a lender to take wages directly from your paycheck.
a) Garnishment b) Pre-authorized checking withdrawal c) Post dated Check d) Money Order
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