GCR - Credit Repair Lesson

Credit Repair Lesson

Sometimes people find themselves in trouble with credit. What are some of the signs there are credit problems and what should you do? View the graphic below to recognize when you are in financial trouble.

Credit Problem Warning Signs: You pay only the minimum payments each month, you pay your bills late, you borrow for basic living expenses, you skip payments, you are getting past due notices, bills are turned over to collection offices, you are turned down for credit.

In Need of Credit Relief?

If you find yourself in the position of struggling to pay your debts, what should you do? Flip through the information below for some guidance.

If you are in debt and cannot pay, eventually debt collectors will contact you to collect what is owed them. Debt collectors must follow the rules outlined in the Fair Debt Collection Act when attempting to collect a debt. Ultimately, if debts cannot be paid the debtor may decide to file for bankruptcy.

Self-Assessment

Determine whether the following statements are true or false.

GCR - P6 LO5_1.png True
GCR - p6 LO5_2.png False
GCR p6LO5_3.png False
GCR - P6 LO5_4.png False
GCR p6 LO5_5.png True
GCR P6 LO5_6.png True

 

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