HOW STUFF WORKS
QUIZZES

FOLLOW US
The Ultimate Consumer Credit Counseling Quiz
by Staff
The unthinkable has happened -- you've found yourself deep in debt and don't know how to fix it. Help is available in the form of consumer credit counseling services. Learn how credit counseling agencies help consumers in trouble by taking our quiz.

When you fall into debt, which of the following might hassle you repeatedly to pay up?

  • creditors
  • credit agencies
  • both of the above

Consumer spending accounts for _____ of the United States economy.

  • one-third
  • two-thirds
  • three-quarters

Which of the following is a recommended way of managing your debt?

  • consumer credit counseling
  • consumer credit managing
  • consumer credit manipulating

What is the first step when you turn to a credit counseling agency for help in reducing your debt?

  • threatening the collection agencies
  • declaring bankruptcy
  • assessing your financial condition

Which service does a credit counseling agency offer to someone in debt?

  • It will help you restructure and repay your debt.
  • It will give you credit education.
  • both of the above

A professional plan to help you get out of debt is called:

  • a debt-erasing plan
  • a debt-canceling plan
  • a debt-management plan

When negotiating with creditors, which concessions can you hope to get from them?

  • They might lower your interest.
  • They might accept a smaller monthly payment.
  • both of the above

Many credit counseling services are non-profit. You can expect to pay _____ for such services.

  • $10-$50
  • $50-$100
  • $100-$!50

How long should it take to be free of debt once you institute a consumer credit counseling plan?

  • two to four years
  • at least five years
  • at least 10 years

Paying off debt through consumer counseling can help you raise your:

  • credit profile
  • credit awareness
  • credit score