If a Debtor Defaults on a Credit Contract,the Creditor May

question 9

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 the above.
• E)(a) and (c) are correct.

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Definitions:

Iron Deficiency Anemia

A common type of anemia that occurs when the body does not have enough iron, leading to reduced production of hemoglobin and causing symptoms like fatigue and weakness.

Hemorrhagic Anemia

A condition characterized by a decrease in the number of red blood cells in the bloodstream, caused by excessive bleeding.

Hemophilia

A genetic disorder characterized by the inability of the blood to clot properly, leading to excessive bleeding from minor injuries.

Clotting Process

The series of events that occur in the body leading to the formation of a blood clot, which is crucial in preventing excessive bleeding.