parents or family members. commercial banks and credit unions. the Diners Club. finance companies. American Express.
Question 13. Question:( TCO 3) What is the top reason why consumers default on their debts?
Medical expenses Defective goods and services Excessive use of credit Fraudulent use of credit Consumer fraud
Question 14. Question:( TCO 3) The following bankruptcy option allows a debtor with a regular income to extinguish his or her debts from future earnings over time.
Chapter 7 Chapter 11
Chapter 13 Chapter 15 Chapter 3 Question 15. Question:( TCO 3) Allison Smith starts the month with a balance of $ 1,100 on her credit card. On the 10th day of the month, she purchases $ 200 in clothes with her credit card. On the 15th day of the month, she makes a payment on her credit card of $ 500. The average daily balance for the month including the new purchase is $ 883. The average daily balance for the month excluding the new purchase is $ 750. Allison ' s interest rate is 1.5 % for the month. Allison ' s bank calculates