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6. How long will a bankruptcy stay on your credit report? ___________
7. Go to Amounts Owed . What is the credit utilization ratio ? Is it better to have a high or a low credit utilization ratio? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 8. Go to Fair debt collection practices . List four rights that borrowers have against debt collectors under the Fair Debt Collection Practices Act. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 9. Go to Fixing an error . If you believe your credit report contains an error, what should you do? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 10. Go to Gardening your credit . Define credit gardening and tell why is it beneficial. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ PRODUCT PREVIEW
THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY 127
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