What Is the Number One Reason Why Consumers Default on Their

question 61

Multiple Choice

What is the number one reason why consumers default on their debts?

• A) Medical expenses
• B) Defective goods and services
• C) Excessive use of credit
• D) Fraudulent use of credit
• E) Consumer fraud

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Definitions:

Condemnation Proceeding

A legal process in which government acquires private property for public use, providing fair compensation to the owners.

Eminent Domain

The power of a government to take land from private citizens for public use on the payment of just compensation.

Public Park

An open space preserved for recreational use by the public, often maintained by a city or municipality.

Duplex

A dwelling consisting of two living units with separate entrances, either side by side or on two different floors.