Predatory Lending-Exit Ticket
Quiz by Teresa
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6 questions
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- Q1One of the causes that consumers access predatory lending is forspending habitsimmediate and desperate need of cash for emergency30sEditDelete
- Q2Why is collateral important?It is a loan that you get from a lenderIt is an asset that a lender accepts as security for extending a loan.30sEditDelete
- Q3What is predatory lending?is any lending practice that imposes unfair or abusive loan terms on a lenderIt is any lending practice that imposes unfair or abusive loan terms on a borrower30sEditDelete
- Q4The 4 examples of predatory lending include auto title loans, high risk morgages, pawn shop loans andpayroll loanspayday loans30sEditDelete
- Q5What do predatory lending have in common?unfair or abusive loan terms on a lenderHigh interest rates, fees and penalties to make it hard and impossible to pay the loan back30sEditDelete
- Q6What are consequences for non-payment?loan forgivenessforeclosure, lien or repossession of assets30sEditDelete