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