Personal Finance example #44519

Credit bureaus obtain their data from banks, finance companies, merchants, credit card companies, other creditors and court records.

Your friends and neighbors can get credit information about you.

Most of the information in your credit file may be reported for only 7 years. But if you declared personal bankruptcy, that fact may be reported for 10 years.

The Equal Credit Opportunity Act is very specific about how a person's age may be used in credit decisions.

In the 5 C's of credit, capacity refers to the borrower's attitude toward his or her credit obligations.

In the 5 C's of credit, character refers to the borrower's attitude toward credit obligations.

In the 5 C's of credit, capacity refers to borrower's financial ability to meet credit obligations.

In the 5 C's of credit, capacity refers to borrower's financial ability to meed credit obligations.

In the 5 C's of credit, capital refers to your financial ability to meet credit obligations.

In the 5 C's of credit, collateral is an asset that you pledge to a financial institution to obtain a loan.

In the 5 C's of credit, conditions refers to general economic conditions that can affect your ability to repay a loan.

A creditor may ignore your retirement income in rating your application.

You may not be denied credit because you receive Social Security or public assistance.

The Fair Credit Billing Act, passed in 1975, sets the procedures for promptly correcting billing errors.

The Fair Credit Billing Act has a provision in which a lender can threaten your credit rating while you are resolving a billing dispute.

When impostors take your name, they are committing a crime.

If someone has stolen your identity, the FTC recommends that you contact the fraud departments of each of the three major credit bureaus.

The U.S. Secret Service has the jurisdiction over financial fraud.

When did installment credit explode on the American scene?

The baby boom generation currently represents 30% of the population but holds how much of the out standing debt?

Although credit permits more immediate satisfaction of needs and desires, it:

By paying cash for a purchase, you:

Another name for closed-end credit?

Kathy purchases a $2,000 digital TV from Young's Appliances. She will make 12 equal payments over the next year to pay for it. She is using...:

Examples of closed-end credit:

Another name for open-end credit?

The maximum amount of credit you are allowed by a creditor is called:

Example of open-end credit:

Installment sales credit:

Karen is notified by her credit card company that credit limit on her credit card has just been increased to $10,000. This is an example of:

Installment cash credit:

A credit arrangement that has no extra costs and no specific repayment plan is called:

Revolving check credit:

Debit card:

In determining your credit capacity, you first provide for basic necessities, such as:

Experts suggest that you spend no more than how much % of your net income on credit purchases?

Michael purchases a laptop computer from Best Buy. He will make one big payment without paying any interest as long as he pays it on or before August 15. This is an example of:

If you cosign a loan:

What agency can produce for a subscribing creditor, almost instantaneously, a report about your past and present credit activity?

If your monthly net (after tax) income is $1,800, what should be your maximum amount spent on credit payments?

What would be the maximum limit for an individual's debt-to-equity ratio, excluding the home mortgage?

What can be included in your credit report?

Which federal law regulates the use of credit reports, requires the deletion of obsolete information, and gives you access to your life?

Most of the information in your credit file may be reported for only how many years?

If there is incorrect information in your credit file:

An unauthorized person who obtains a credit report under false pretenses may be:

Debt payments-to-income ration:

Debt-to-equity ratio:

Dave's take home pay per month is $3,200. What is the maximum dollar amount of debt payments he should have?

What are the sources that provide data to credit bureaus?

If you have declared personal bankruptcy, the fact may be reported to credit bureaus for how many years?

If you have incorrect information in your credit file:

If you are denied credit, your first step should be to:

Which federal consumer credit law starts all credit applicants off on the same footing?

If you are a women, a creditor must:

The credit bureau cannot charge you a disclosure fee if you ask to see your file within _______ days of being notified of a denial based on a credit report.

The borrower's attitude toward his or her credit obligation:

A bank that is looking at your past payment records on you loans is most likely examining which aspect of the 5 C's of lending?

The borrower's financial ability to meet credit obligations:

A term that refers to the borrower's assets or net worth:

A valuable asset pledged to assure loan payments and subject to seizure upon default:

A loan officer is examining your income and the amount of existing debt payments in deciding whether to make a loan to you today. Which aspect of the 5 C's of lending is the loan officer most likely looking at?

In evaluating your credit application, a lender may not:

If your credit application is denied, you:

If you have a problem with your creditor, the best solution is to:

Which federal credit law sets the procedure for promptly correcting billing mistakes?

The best way to maintain your credit rating is to:

If you think that your bill is wrong, you should first:

Which federal credit law protects you against an unauthorized use of your credit card?

When you complain about your billing error, the creditor must acknowledge your letter within ___ days.

While you are resolving a billing dispute, a creditor may:

What should you do if your identity is stolen?

If you have a complaint about consumer credit, you should first:

Which federal law protects you by requires credit bureaus to furnish correct and complete information to creditors?

Which federal consumer credit law provides specific cost disclosure requirements for the annual percentage rate and the finance charge as a dollar amount?

Which federal consumer credit law prohibits credit discrimination based on sex and marital status?

Which federal agency writes regulations to carry out the consumer credit laws?

Which federal consumer credit law regulates the advertising of credit terms?

If you have a complaint against he First National Bank of Edmond, who should you contact?

Which consumer credit law prohibits creditors from requiring women to reapply for credit upon a change in marital status?

Which consumer credit law prohibits abusive, deceptive, and unfair practices by debt collectors?