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.
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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.
| Question | True / False |
|---|---|
| Making a realistic assessment of what you make and how you spend it can help you keep good credit | True |
| Bills being turned over to a collector are not a serious problem | False |
| It is okay to avoid your creditors if you cannot pay | False |
| Debt collectors can use any mans to collect the debt you owe. | False |
| You should never borrow money for basic living expenses | True |
| Secured debt means your asset (house, car) can be taken if you don't pay for it. | True |
IMAGES CREATED BY GAVS