If a Debtor Defaults on a Credit Contract, the Creditor

question 40

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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