Consumer Credit Agreement Termination
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the next step for a consumer whose debt rearrangement application is refused by a debt counsellor?

  • Seek assistance from a credit provider
  • Reapply to the debt counsellor with new information
  • Contact a credit bureau to dispute the information
  • Apply to the Tribunal to review the decision (correct)

How often can a person inspect their credit record for free?

  • Once a year (correct)
  • Every 6 months
  • Every 2 years
  • At any time

What is a key requirement for credit providers before granting credit?

  • The credit provider must assess the consumer's understanding of the credit risks and costs (correct)
  • The consumer must have a credit insurance policy
  • The consumer must have a good payment history
  • The consumer must have a minimum income level

What is a consumer's right regarding credit marketing practices?

<p>To be excluded from telemarketing and marketing attempts (C)</p> Signup and view all the answers

When must a credit provider disclose information to determine affordability?

<p>Before granting credit (D)</p> Signup and view all the answers

What is the time frame for a credit bureau to remove adverse information after a debt is settled?

<p>7 days (C)</p> Signup and view all the answers

What is the consequence of not fully and truthfully answering requests for information by a credit provider?

<p>The credit provider will not be deemed reckless (C)</p> Signup and view all the answers

What is the purpose of a clearance certificate?

<p>To remove adverse credit information (D)</p> Signup and view all the answers

Where can a consumer not be contacted for credit marketing purposes?

<p>At their private dwelling (A)</p> Signup and view all the answers

What is a consumer's right regarding their credit record?

<p>To challenge the accuracy of the information (D)</p> Signup and view all the answers

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser