7-5 Quiz

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1 point

Financial difficulties are commonly caused by overspending.

True

False

1 point

Setting up a realistic budget is a good way to avoid financial trouble.

True

False

1 point

A warning sign of financial trouble is not knowing how much you owe.

True

False

1 point

If you have a high-paying job, you can afford to spend more than 20% of your net income on debt maintenance.

True

False

1 point

A credit repair company can erase a poor credit history quickly.

True

False

1 point

It is a good idea to contact creditors immediately if you begin falling behind in your payments.

True

False

1 point

The National Foundation for Consumer Credit will help you set up a realistic budget, contact your creditors, and plan future expenses.

True

False

1 point

It is a good idea to get a new loan to pay old loans.

True

False

1 point

You should never admit to a creditor that you cannot pay your bills.

True

False

10.

1 point

The National Foundation for Consumer Credit offers customers a quick, easy fix for financial problems.

True

False

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