If a Debtor Defaults on a Credit Contract, the Creditor

question 48

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)take possession of the property securing the debt and sell it.
• D)All of the above.
• E)(a) and (c) are correct.

---

Definitions:

Managers

Individuals responsible for controlling or administering all or part of a company or similar organization.

Manage Conflict

The process of identifying and addressing differences that arise in a group, aiming to reach an agreement or solution.

Assertive

Exhibiting confidence and directness in stating needs or opinions without being aggressive.

Competitor

Someone who manages conflict by being competitive and pushing ideas and solutions on others.