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DATE REPORTED or CONFIRMED 07 SA T 07 9A R 07 9A T 07 9A R 07 9A T 6 9A T 07 9A

DATE REPORTED or CONFIRMED 07 SA T 07 9A R 07 9A T 07 9A R 07 9A T 6 9A T 07 9A R 06 9A T 06 9A R 07 9A T 07 Refer to the Puddingproof's Credit History report from the credit bureau shown on Page 38. Relate the Stages It is now late January, 199B. Things have not gone well for the Puddingproofs. In October Peter fell off a 1 What collection action will the finance company probably take concerning Peter's car loan? 06 1 What collection action would the finance company have taken up to this wwpoint? no show emos priob 3. 56 Penny's contract with the Trust Company for her car loan is current. Considering the status of their What should all the creditors have done when the P's accounts started to become more overdue than in the past? 

DATE REPORTED or CONFIRMED 07 SA T 07 9A R 07 9A T 07 9A R 07 9A T 6 9A T 07 9A R 06 9A T 06 9A R 07 9A T 07 9A T SOURCE RFFDD Following is the credit history information on Peter and Penny Puddingproof taken from their most recent credit bureau report (See Quest. 1, Module 2-1). D N N ACCOUNT TYPE 1-925 1-345 1-200 RRRRR O CREDIT HISTORY DATE OPEN 05 8J 019A 07 9A 06 8H 03 8J 01 9A 04 81 02 9A 05 8J 02 9A 05 7K HIGH CREDIT 70,000 9,540 2,400 825 450 725 1,400 630 220 125 136 LAST PAID 07 9A 07 9A 06 9A 07 9A 06 9A 07 9A 06 9A 06 9A 07 9A 07 9A BALANCE 68,000 7,500 2,400 635 235 456 654 247 65 84 92 1 28 July 199A PAST HOW PAY DUE 64 25 30 1 1 0 2 2 1 2 1 TRADE KEY JT S 5 5 5 5 5 5 5 JT JT DATE CLOSED Refer to the Puddingproof's Credit History report from the credit bureau shown on Page 38. Relate the Stages of Collection and the probable collection devices which would be used by each of the creditors listed in the Credit History. 1 1 It is now late January, 199B. Things have not gone well for the Puddingproofs. In October Peter fell off a ladder while doing some work on their house. One leg was badly broken and his back was injured. He has not worked since and does not expect to be able to return to work until April. His company disability group insurance covers 40% of his salary (after tax) but this was not enough to cover their expenses so Penny had to take full time work which, fortunately, she was able to get at the Trust Company. 01 9B T 01-9B R 12-9A R 01-9B T 01-9B T 01-9B T 01-9B T 01-9B T 12-9A R 01-9B T D1-9B R D1-9B T 12-9A T The Credit History section of the credit bureau report dated 23rd January, 199B reads as follows: DATE REPORTED or CONFIRMED SOURCE ACCOUNT TYPE R F F B D D D D N N 0 0 1-925 1-345 1-200 1-217 RR R R R R CREDIT HISTORY DATE OPEN 05-8J 01-9A 07-9A 07-9A 06-8H 03-8J 01-9A 07-9A 04-81 02-9A 06-8J 02-9A 05-8J HIGH CREDIT 70,000 9,540 2,400 7,816 LAST PAID BALANCE 01-9B 11-9A 12-9A 01-9B 825 11-9A 450 10-9A 725 11-9A 550 12-9A 1,400 11-9A 630 11-9A 220 11-9A 245 12-9A 144 01-9B 23 Jan 199B PAST HOW DUE PAY 67,300 A 6,090 690 2,000 200 6,514 424 85 381 124 627 126 435 44 220 1,100 546 110 111 111 88 64 124 1 3 2 1 3 3 3 1 3 3 3 2 1 TRADE KEY 5 5 5 5 5 5 5 5 5 5 DATE CLOSED d 1 What collection action will the finance company probably take concerning Peter's car loan? 06 1 What collection action would the finance company have taken up to this wwpoint? no show emos priob 3. 56 Penny's contract with the Trust Company for her car loan is current. Considering the status of their other credit accounts, what would be a good explanation of this? Three of the department stores now show the P's being Class 3 in regards to their payments. What collection action would all three most likely have taken up to this point and what further action will they probably pursue if the past- due is not paid shortly? 1. If the P's do not pay anything on these accounts within the next two months, are the stores likely to take drastic action and what form would this probably take? What should all the creditors have done when the P's accounts started to become more overdue than in the past?

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