Question

question 12 (1 point)
which of these represents a potential consequence of neglecting to pay your debts?
a the government can force you to sell possessions
b lawsuit, wage garnishment, or account turned over to collectors
c lose your job
d lender can file bankruptcy on your behalf

question 13 (1 point)
which of the following statements comparing credit and debit cards is true?
a more businesses accept credit cards than debit cards
b credit cards pull money directly from your bank account, while debit cards get their money from visa or master - card
c credit card companies provide you with a monthly statement, while debit cards do not
d with debit cards, youre spending your own money at point of sale, while with credit cards, youre promising to pay back the money

question 14 (1 point)
according to the table, please list the order that you would pay off these debts if you were using the debt snowball strategy to get out of debt.
debt|balance owed|interest rate|minimum payment

1. auto loan|$6,700|5.8%|$435
2. student loan|$17,200|4.2%|$300

Explanation:

Question 12

When you neglect debt - payments, creditors may take legal action. This can include lawsuits, wage garnishment, or turning the account over to debt - collectors. The government generally doesn't directly force sale of possessions for most consumer debts. Losing a job isn't a direct consequence of debt - nonpayment. And lenders can't file bankruptcy on your behalf.

Debit cards pull money directly from your bank account at the point of sale. Credit cards allow you to borrow money and promise to pay it back later. Credit card companies provide monthly statements. The acceptance rate of credit and debit cards is similar in many places. Debit cards don't get money from Visa or Master - card in the sense of borrowing, they just use the linked bank account.

The debt - snowball strategy involves paying off debts from smallest balance to largest, regardless of interest rate. Here, the auto loan has a balance of $6,700 and student loan has a balance of $17,200. So, the auto loan should be paid off first.

Answer:

B. Lawsuit, wage garnishment, or account turned over to collectors

Question 13