Web Application Chapter 11 page 483

Michael and Elisabeth Westsmith are having a difficult time in meeting their monthly financial obligations. After looking over the bills, they realize that their credit-card debt is a major part of the problem. They know they are wasting money in late charges and interest payments. Besides that, the strain and tension caused by payment deadlines and fees are a constant headache. One option the couple wants to investigate is debt consolidation.

Go to www.a1financialservices.com and answer the following questions about debt consolidation.

1. According to this Web site, what are three of the danger signs of debt?

2. Under "Did you Know," does a lender have a right to demand the note be paid in full? If so, when?

Search www.beevy.com/american/statistics?27-6894and answer the following questions.

3. According to the credit-card statistics on this Web page, how many credit cards does the average household have? What is the average interest rate?

Web site information is subject to change. For this reason, include the date you researched the on-line sites.

© Copyright 2000 Addison Wesley Longman, Inc.