Are credit guard companies a good deal for consumers? Why or why not? Why would a person choose to freeze his or her credit?

Does your state have a usury Jaw? You can find out by consulting your state's web site, a current almanac, or other library resources. Identify the maximum finance rate that your state allows. Then identify the maximum rates allowed by neighboring states.

Give an example of a situation in which you would use collateral when making a purchase on credit. What would be the advantage to using collateral with a closed-end loan over making the purchase with your credit card?

Companies and organizations that offer credit cards compete for your credit card business by offering low introductory rates. Search the Internet for offers of a special deal. What is the "low introductory rate " ? Read the fine print. What will the rate be after the introductory period? At the regular rate, how much finance charge would you have to pay on a $1,000 balance each month? How does this compare to the introductory rate?

Using Figure 8.3 as a model, prepare a net worth statement. List your assets and liabilities. Compute your net worth. How can you use this information?

What choices do you have if your budget doesn't balance? If you had to reduce your spending to balance your budget, which would you try to reduce first: fixed or variable expenses? Why?

Match the terms with the definition. Some terms may not be used.

a. billing statement

b. credit inquiry

c. credit rating

d. credit score

e. debt collector

f. discrimination

g. point system

h. rate shopping

___ Treating people differently based on prejudice rather than individual merit

As a consumer, you are entitled to one free credit report every 12 months from each of the three major credit bureaus. Why is it important for you to review your credit report at least once a year?

As a teenager, you would like to get started in establishing a good credit history. Based on your personal situation and the stores and banks in your area, prepare a plan that you might follow in getting started using credit.

Your neighbor recently purchased a refrigerator on credit but was unable to continue making payments because he lost his job. In the last week, he has received abusive telephone calls at home from a debt collector. Your neighbor has volunteered to return the refrigerator, but the debt collector refuses and threatens him with public humiliation. The collector has now come to your house looking for him and has made false and degrading comments about the neighbor's character. Are the debt collector's actions legal? Why or why not? What advice would you give?

What is the purpose of rate shopping?

Explain the purpose of a rental inventory prepared when you first move into rental property and when you move out.

Explain the purpose of a preparing a rental inventory when you first move into rental property and when you move out?

How can parents help their child get started with credit? Why would a teenager ask for help from his or her parents?