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Protection of Debtors

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					                                                                                06.02 ACT 9


                  PROTECTION OF DEBTORS
 Mark each statement TRUE or FALSE. If the statement is false, change the underlined word or
                            phrase to make the statement true.


QUESTION                                                 TRUE/FALSE       CORRECT
                                                                           WORD
1. A creditor may not refuse, on the basis of sex or
marital status, to grant a separate account to a
credit worthy applicant.                                 _________            _________

2. The interest rate is the total added cost when one
pays in installments for goods or services.              _________            _________

3. The creditor should not have any communication
with the debtor at work.                                 _________             _________

4. Chapter 12 bankruptcy plan is for family farm
owners only.                                             _________            _________

5. Under Chapter 7 bankruptcy assets such as bank
accounts, stocks, and bonds are all exempt property.     _________            _________

6. The Federal Credit Opportunity Act makes it lawful
for any creditor to discriminate against an applicant
because of sex or marital status.                        _________            _________

7. Under the laws of challenging unconscionable
contracts, the judge may refuse to enforce the
contract.                                                _________            _________

8. Chapter 13 bankruptcy law requires the debtor to
have $500,000 in unsecured debt.                         _________            _________

9. Chapter 11 Reorganization is for corporations,
partnerships, or sole proprietorship to continue
in business.                                             _________            _________

10. Creditors must mail bills at least 15 days before
the due date.                                            _________            _________

				
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