Bankruptcy
What is Bankruptcy
What is the legal process which helps individuals or businesses eliminate or repay debt under the protection of a court
What is the highest credit score
What is 850
What is an unsecured loan?
Why does it hurt to have zero credit utilization
It shows lenders you can't manage your credit
What is a card that uses borrowed money to make purchases
What is a credit card
What is chapter 7 bankruptcy?
What is a type of bankruptcy that individuals use to eliminate most forms of unsecured debt and eliminate overwhelming debt
What is the lowest credit score
What is 300
What is a secured loan?
A loan that relies on collatoral in return for lower APR
Why shouldn't you pay off your credit immediately
What is it will lower your score
What are the three major credit bureaus
What is Equifax, Experian, and TransUnion
What is Chapter 13 bankruptcy?
What is the process of reorganizing debt, typically for individuals with steady income
Does someone with higher credit recieve higher or lower APR
What is lower
What is a loan that has an interest rate that never changes
What is a fixed loan
Does maxing your utilization raise or lower your score
What is lowers
Does closing a credit card raise or lower your score
What is lowers
What is property lein?
What is the process where a creditor can sell the debtors house in return for any owed debt?
How does missing a payment affect your credit score
What is lowers it
What is a person who puts collatoral or their credit score to help someone get a loan
What is a cosigner
How much of your credit should you use
What is 30%
How often can you check your credit score for free
What is once a week
What is the means test?
What is a test used to determine if you qualify for Chapter 7 bankruptcy
Do banks trust higher or lower credit scores
What is higher
What is a loan that changes APR based on the market
What is a variable loan
How do you calculate your credit utilization
What is the sum of your balances divided by your credit limit
How often can you check your credit report