If a Debtor Defaults on a Credit Contract, the Creditor

question 43

Multiple Choice

If a debtor defaults on a credit contract, the creditor may:

• A) impose a late charge.
• B) garnish wages if there has been a court proceeding to enforce collection of a judgment.
• C) declare the entire balance of the debt immediately due and may sue on the debt.
• D) All of these.
• E) Both  impose a late charge and  declare the entire balance of the debt immediately due and sue on the debt.

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Definitions:

Rhetorical Analysis

A method of examining texts, images, or other media to understand how they persuade or convey messages to audiences.

Large Sample

A sample size in statistical analysis that is sufficiently large to provide a high degree of confidence in the results.

Qualitative Methods

Research techniques that focus on understanding concepts, thoughts, or experiences through analysis of non-numerical data such as interviews and observations.

Large Groups

Collections of individuals, typically larger than small groups, whose size affects their dynamics, communication, and behavior.