If You Think That Your Bill Is Wrong, You Should

question 106

Multiple Choice

If you think that your bill is wrong, you should first:

• A) contact the local credit bureau and inform it of the billing error.
• B) complain to the Better Business Bureau.
• C) contact your state consumer protection agency.
• D) notify the creditor in writing within 60 days after the bill was mailed.
• E) contact your attorney to settle the matter.

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Definitions:

Accelerated Depreciation

A depreciation method that allocates larger amounts of the cost of an asset to the earlier years of its useful life.

Depreciation Expense

The allocated portion of the cost of a fixed asset that is written off each year over the asset's useful life.

Straight-line Method

A method of allocating the cost of a tangible asset over its useful life in equal annual amounts.

Salvage Value

The projected remaining worth of an asset upon reaching the end of its serviceable duration.