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1.
In most cases (except for child support, student loans, and back taxes owed), a creditor can get a court order to garnish up to only _______ of your net pay.
25%. The most a creditor can get out of your pay is 25%, except for child support obligations, student loans, and back taxes. Those cases can get more out of you.
2.
Which of the following is NOT an example of an essential debt?
The monthly minimum payment on an unsecured credit card. Though not a good idea, a payment can be skipped without truly severe consequence.
3.
If you have questions about the type of collection practices that are allowed, contact the _______ in your state to see what the state law allows.
Consumer protection office. Your state's consumer protection office will have information about state laws governing credit collection practices that operate together with federal regulations.
4.
If you've got a lot of debt and you want help speaking to your creditors, contact a _______.
Non-profit debt counseling organization. These agencies have trained counselors who can help you talk to your creditors and work out a payment plan.
5.
Low-income consumers may be eligible for reduced rates from utility companies.
True. Many utility companies offer reduced rates for low-income consumers who have trouble paying their bills.