Trish Makes $30,000 a Year

question 28

Multiple Choice

Trish makes $30,000 a year. The median income for her state is $28,000. She owes over $50,000 in various debts and is considering ways to address her situation. Which of the following is not one of her options to fix her debt issues?

• A) attempt to negotiate a workout with her creditors
• B) pay off her loans
• C) Chapter 7 bankruptcy
• D) Chapter 13 bankruptcy

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Definitions:

Emerging Adulthood

A stage of development covering late adolescence and early adulthood, approximately ages 18 to 25, characterized by exploration and instability in work, relationships, and identity.

Jeffrey Arnett

A developmental psychologist known for his theory on emerging adulthood, a distinct period between adolescence and full-fledged adulthood characterized by exploration and instability.

Instability

The quality of being prone to change, fluctuation, or unpredictability, often leading to chaos or disorder.

Intimacy Vs. Isolation

A stage in Erik Erikson's theory of psychosocial development where young adults face the challenge of forming intimate relationships or risking social isolation.