Reference no: EM132245031

1. The federal Fair Debt Collection Practices Act (FDCPA) is designed to shield debtors from which of the following practices?

A. Erroneous credit reports against a consumer

B. Civil lawsuits by creditors in an effort to collect a consumer debt

C. Unfair debt collection tactics by some attorneys

D. Unfair delinquency reports by creditors against consumers

2. Nayla buys a car from Twin Peaks Autos and finances it. She pays the car loan over three years in monthly installments. Her bank, nevertheless, sends inaccurate information to Credit House, a local credit reporting agency (CRA), and claims that her installments were not made on time. As a result, Nayla is denied a home loan by another bank, County Bank. In the context of the Fair Credit Reporting Act, which of the following can be concluded from this scenario?

A. Nayla has no right to find out the information in her credit report.

B. County Bank is required to provide Nayla her credit score and the factors which affected the score because County Bank denied her home loan based on that score.

C. Credit House must change Nayla’s credit report immediately upon notification that County Bank took adverse action against her.

D. If Nayla informs Credit House about the inaccurate information, the agency might investigate her complaint within 30 days.

3. Which of the following is true of procedural unconscionability in the context of contracts?

A. It usually arises from lack of knowledge or a lack of choice.

B. It is a situation where the clause is so clearly unfair as to "shock the conscience of the court."

C. It is a situation in which both the parties of a contract have equal bargaining power.

D. It occurs when one party in a contract