TORT LAW, DEBT, BANKRUPTCY & RISK MANAGEMENT ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

TORT LAW, DEBT, BANKRUPTCY & RISK MANAGEMENT ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS debt - Answer -sum of money due to another debtor - Answer -a person or institution that owes a sum of money. creditor - Answer -A person or business to whom a liability is owed debt consolidation - Answer -the process of getting one loan with a single monthly payment to pay off all of your debtsNeed assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: open ended credit (revolving) - Answer -debtors are given a borrowing limit which may be increased or decreased by the creditor EX: Credit Card Closed Ended Credit - Answer -debtors are given a specified amount of credit (cash) which can be used to purchase specific consumer goods and intangible goods ( Ex: Student Loan, Car Loan, Home Mortgage Good Debt - Answer -debt which can produce additional wealth in the long run Good debt vs. bad debt - Answer -Good debt: increased credentials, access to certain jobs, increased salary - appreciates in value Bad debt: if a degree is not earned, if cr