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Which type of bankruptcy allows you to re-structure your debt and repay many of your debts over 3-5 years time (The court oversees the repayment plan.)?
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
True or False: Financial counseling is recommended for those filing Chapter 7 bankruptcy, but not required.
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
True or False: 2 common mistakes on credit reports are fraud (identity theft) and mistaken identity.
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
Which is a benefit of a good credit score?
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
Which of the following is NOT used to calculate a credit score?
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
Which is a drawback of a bad credit score?
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
Which type of bankruptcy allows you to erase most of your debt?
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
Which is the only government-sponsored web site where you can obtain a free credit report annually from each of the three credit reporting agencies?
Chapter 7
False
Promotions
Chapter 13
The consumer is more likely to have access to additional credit in the future, when needed.
True
The consumer may be denied credit or be required to pay a higher interest rate.
annualcreditreport.com
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