Dave Ramsey Chapter 8

When should you send a cease and desist letter to creditors?

• The first time a creditor calls

• When a creditor calls you at work

• Only in the most extreme situations

• When a creditor lies to you

Which is not part of the Federal Fair Debt Collections Practices Act?

• Restricts calling times of collectors to the hours of 8 a.m.–9 p.m.

• Allows you to request that a creditor stop calling your place of employment

• Allows you to write a cease and desist letter to insist a creditor stop all contact

• Requires creditors to correct any inaccuracies on your account

Which of the following is not forgiven under a bankruptcy?

• Student loans

• Medical bills

• Car loan

• Credit card debt

Which of the following is one of the Four Walls?

• Transportation

• Food

• Clothing

• All of the above

In which case are you most likely to get sued if you are behind in paying bills?

• If you are making no payments

• If you have stopped all contact

• Both a and b

• If you call them and settle the debt

Which of the following is not one of the steps to take if you are a victim of identity theft?

• Pay up to $50 to each account on which a charge was made

• Contact the fraud victim division of each credit bureau

• File a police report

• All of the above

Payment history on your credit report is supplied by credit lenders.

• T

• F

Credit accounts stay on your report seven years from the date of last activity.

• T

• F

The balance shown (appearing on your credit report) may not be the up-to-date balance.

• T

• F

It is not uncommon for duplicate accounts to appear on your report.

• T

• F