Credit Cards
The abbreviated version of Annual Percentage Rate.
What is APR?
Equifax, Experian and Transunion
What are the 3 major credit reporting bureaus?
Paying your lowest balance debt first and then using those funds to pay the next highest balance
What is the snowball payment strategy?
2nd Cars, 2nd Homes, Boats, Water skis...
3-5 year period
What is the amount of time you have to pay your debts?
Airline Miles and Cash Back
What are perks provided by credit cards?
FICO score of 800-850
What is an Exceptional Credit Score?
Pay your highest interest debt first, or highest balane first.
What is the avalanche strategy?
What are things you get to keep in Chapter 7 Bankruptcy?
What are things you can keep in a Chapter 13 bankruptcy?
When you use your credit card to take money out of the ATM.
What is a cash advance?
What makes up your credit score?
An legal financial option when you cannot pay your debts within 5 years.
What is Bankruptcy?
10 years
What is the Length of Time a Bankruptcy Stays on your Credit score?
Child Support, Income Taxes, Student Loans,
What are things not forgiven/reorganized in Bankruptcy?
1 Trillion Dollars
What is the amount of credit card debt in the US?
Pay off debt, Pay on Time, Keep Credit Cards Open Over time....
What are ways to improve your credit score?
Bankruptcy that liquidates your debts?
What is Chapter 7 Bankruptcy?
State Median Income
What income qualifies you for Chapter 7?
What is the length of time a Chapter 13 bankruptcy stays on your credit report?
It states that you only need to pay $50.00 if your credit card is stolen, and used.
What is the truth in lending act?
Car Insurance, Ability to Rent a Home, Interest Rates, Ability to Borrow Money, Ability to Get Hired
What are things affected by your credit score?
What is Chapter 13?
Credit Counseling & Debtor Education
What classes are required for you to file for Bankruptcy?
How soon must you stop buying non-necessities before filing for bankruptcy?