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36) What does it mean when a loan is in default? A. Balance must be paid off in 6 months B. Terms of the loan agreement are renegotiated C. Failure to meet the terms of a loan agreement D. Balance must be paid off in 12 months
"A loan is in default" means: Failure to meet the terms of a loan agreement.
Expert answered|Amtid09|Points 60|
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Asked 3/24/2013 2:09:44 PM
Updated 9/22/2014 6:31:07 PM
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This answer has been confirmed as correct and helpful.
Edited by Janet17 [9/22/2014 6:31:03 PM]
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21) Which of the following is an advantage of consumer credit? A. It serves as a source of emergency cash. B. It allows you to buy now, pay now. C. It has no impact on financial statements. D. It carries no risk of overspending.
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Updated 11/26/2016 2:27:30 PM
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It serves as a source of emergency cash is an advantage of consumer credit.
Added 11/26/2016 2:27:30 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [11/27/2016 9:43:01 AM]
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34 How might credit problems be avoided? A. Open bank accounts with overdraft protection. B. Use savings to pay monthly bills. C. Make minimum payments on credit cards. D. Ensure monthly cash flow is on target for expenditures
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