Page 57 - Book8E

Let’s Review
Let’s review all the material we’ve covered so far by playing the match game. Match the definition of the consumer protection regulation with the regulation’s name. Answers are found below.
1. ____
2. ____
3. ____
4. ____
5. ____
6. ____
7. ____
8. ____
The Cooling-Off Rule
Chapter 7 Bankruptcy
Lemon Law
Equal Credit Opportunity Act
The Fair Credit Reporting Act
The Truth in Lending Act (TILA)
(also called the Consumer Credit Protection Act)
Chapter 13 Bankruptcy
The Fair Debt Collection Practices Act
a. Regulates the collection, distribution, and use of consumer credit information.
b. Ensures that all consumers are given an equal chance to obtain credit.
c. Designed to protect consumers in credit transactions by requiring money lenders to be clear and explicit about the true costs of credit transactions.
d. Requires that debt collectors treat you fairly and prohibits certain methods of debt collection.
e. Called “debt adjustment” or “wage-earner repayment plan”. It requires a debtor to file a plan to pay debts (or parts of debts) from current income. Either type of case may be filed individually or by a married couple filing jointly.
Things You Should Know About Bankruptcy 47
Answers: 1) f.; 2) g. 3) h.; 4) b.; 5) a.; 6) c.; 7) e.; 8) d.