Question

All of the following are true of Consumer Credit Counseling organizations except _____.
Question 1 options:

when debt is too high to pay off, consumer credit counseling services can create a Debt Management Plan or DMP


nonprofit consumer credit counseling services are less likely to be scams and more likely to provide low-cost services

consumer credit counseling services can help individuals manage their budgets to free money to pay off debts


people can complete the necessary paperwork for support paying for insurance, groceries, and utilities

Question 2 (1 point)
Which of the following is true of services offered by consumer credit counselors?
Question 2 options:

They may provide help with day to day money management.


They are useful only if you are already bankrupt.


They will not help you to negotiate with creditors.


They can find funding sources to pay your debts.

Question 3 (1 point)
A legitimate consumer credit counseling organization is _____.
Question 3 options:

totally free of cost


negotiates the lowest fees and interest rates for people in debt

will not require you to make sacrifices like stop using a credit card


more likely to be nonprofit

Question 4 (1 point)
Consumer credit counseling services can help you with shared debt by _____.
Question 4 options:

setting up individual budgets for you to follow


providing therapeutic sessions to help you and the other person understand how you arrived at this point


helping you and the other person communicate respectfully with one another so you can work together to lower your debt


helping you apply for credit cards with low interest rates

Answer 1

Here are the correct answers:

Question 1 — Except:
"people can complete the necessary paperwork for support paying for insurance, groceries, and utilities"

Question 2 — True:
"They may provide help with day to day money management."

Question 3 — A legitimate organization is:
"more likely to be nonprofit"

Question 4 — They can help with shared debt by:
"helping you and the other person communicate respectfully with one another so you can work together to lower your debt"