Financial Lit
Debt Management
Create multiple-choice games on Wisc-Online and play them on our Chakalaka mobile app!
But that's not all! Explore educational games created by others. Simply search by category or enter agame code number and dive into a world of learning and fun.
Download the Chakalaka mobile app here:
Topics of this game:
- How much you owe each creditor individually and in total; 30% of your credit score is based on this
- The cost you pay each year to borrow money, including fees, expressed as a percentage
- A person who has permission to use and/or carry another person's credit card, but isn't legally responsible for paying the bill
- A legal proceeding carried out to allow individuals or businesses freedom from their debts, while simultaneously providing creditors an opportunity for repayment
- A declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected; occurs when a consumer becomes severely delinquent on a debt
- An attempted recovery of a past-due credit obligation or debt by a collection department or agency
- A U.S. government agency that helps protect consumers by regulating financial products and services, like mortgages, credit cards, and student loans
- An agreement in which a borrower receives something of value now and agrees to repay the lender in the future, generally with interest
- A consumer-reporting company that collects and sells information about how individual people manage their credit (e.g. Equifax)
- A certified financial advisor who works for an accredited nonprofit specializing in helping consumers repay debt in a responsible manner
- A record of a person's use of credit over time; 15% of your credit score is based on the length of your credit history
- A document with information about a person's credit activity and history
- What's the song Cael sings called????
- A three-digit number (ranging from 300-850) based on an individual's credit history detailed in a credit report
- A measurement of your outstanding debt divided by your total available credit; a general rule of thumb is to keep this under 30%
- A detailed plan drawn up by a debt management company (DMC) and sent to an individual's creditors (entities they owe money). It groups several credit card debts into one payment, cuts your interest rate and creates a 3- to 5-year repayment plan.
- An agreement made between a creditor and a consumer in which the total debt balance owed is reduced and/or fees are waived, and the reduced debt amount is paid in a lump sum instead of revolving monthly
- A method of debt repayment whereby the borrower prioritizes paying down debts with the smallest balances first
- A government organization whose role is to protect consumers and competition by preventing anti-competitive, deceptive, and unfair business practices through law enforcement, advocacy, and education
User comments are currently unavailable. We apologize for the inconvenience and are working to restore this feature as soon as possible.