Money, Roles, and Attitudes
Types of Counseling
Credit What???
Bankruptcy
Challenge
100
the drug of choice
What is consumption
100
used to determine how earnings will be allocated
What is budget counseling
100
an individual's capacity to borrow
What is credit
100
A court action declaring a person free of most debt, due to the inability of the person to pay
What is bankruptcy
100
there is no saturation point, and cannot be tested for the addiction
What is the reason a gambling addiction is hard to identify
200
The disease of having it all and feeling you are entitled to it and more.
What is affluenza
200
helps members manage spending in a way that rebuilds their credit and makes is possible to achieve financial goals
What is credit counseling
200
an individual's financial performance over time. shows whether the member pays bills on time, how much debt has been accumulated, and whether debt is repaid as agreed at the time the loan was made
What is credit history
200
The bankruptcy law changed on this date before the Bankruptcy Abuse Prevention and Consumer Protection Act took effect.
When is October 2005
200
court sanctioned procedure by which a portion of a debtor's wages is set aside to repay creditors
What is a garnishment
300
Wanting things now vs later (which attitude relates)
What is spending too much
300
helps members learn to structure their debt
What is debt counseling
300
An evaluation of an individual's ability to pay for services or repay loans. This evaluation is based on the credit score along with the elements of debt capacity, character, and credit history.
What is credit rating
300
recent taxes, child support, alimony, student loans, debts related to a death or injury caused by the debtor's unlawful operation of a vehicle due to intoxication, credit obtained under fraud or false pretenses, debts greater than $500 for luxury goods or services incurred by the debtor on or within 90 days of bankruptcy, cash advances on an open-end credit plan totaling more then 750 within 90 days of bankruptcy, restitution or damages for willful and malicious injury by the debtor to another
What is the debts not discharged in bankruptcy cases
300
the difference between total assets and total liabilities
What is net worth
400
Consolidating debt to maintain a standard of living (which consumer problem)
What is carrying too much debt
400
helps members manage their finances to create long term financial stability.
What is financial counseling
400
a document that provides details about an individuals history that can be used to determine whether they are likely to meet future financial obligations.
What is credit report
400
Also known as a straight bankruptcy or liquidation. The debtor's assets are liquidated and a payment of the proceeds is made to the creditors
What is Chapter 7 bankruptcy
400
the amount of money property is worth above and beyond the amount owed on it
What is equity
500
The percent of the population that has a compulsive spending problem.
What is 10%
500
helps members take care of more sophisticated financial needs like retirement savings and 401k investments
What is financial planning
500
a statistical number that reflects the member's perceived ability to pay for services or repay loans
What is credit score
500
Sometime's called a "wage-earner's plan." It involves the debt adjustment of individuals with regular income. The debtor uses a court-approved and supervised budget plan to pay back the secured and unsecured obligations to creditors over a period of time.
What is Chapter 13 bankruptcy
500
The best known credit score
What is the Fair Issac Corp (FICO)
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