Debt Management Basics: Chapter 5 quiz

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If you think you’ve mastered the material in this chapter, take our quiz. After you click the ”submit” button, the answers will appear below.

  1. With a Chapter 7 bankruptcy:

    The filing will stay on your credit report for seven years.
    Before you file, you must pass a “means test” to qualify.
    You get to reschedule and extend secured debts over the life of your repayment plan.
  2. True or false: Even after bankruptcy you can get credit cards easily.

    True
    False
  3. Which of the following is not a good tip for rebuilding credit after a bankruptcy?

    Get a credit card.
    Pay in cash.
    Buy a car.