Question

Simple Question.

Jim has a home loan and a car loan. He defaults on his home loan after a year of making payments on time. However, he continues to make all of his car payments on time. Will his actions make his home debt a good or bad debt? Why?

Select the best answer from the choices provided.

Jim's debt becomes a good debt since it is backed by collateral.

Jim's debt becomes a bad debt since he cannot make payments.

Jim's debt becomes a bad debt since it is not backed by collateral.

Jim's debt becomes a good debt since he is making payments on his car.

Answer 1

Let me ask what grade is this question?

Answer 2

Oh I guess I try to answer this question.

Answer 3

Is it really that simple because im getting it wrong all the time.

Answer 4

Because It seemed like a hard question so I just wanted to know the grade level.

Answer 5

Plus I am only in 7th grade

Answer 6

Any help is good :)

Answer 7

Alright I will try

Answer 8

Maby Just Maby its D

Answer 9

That what im thinking

Answer 10

Im not very good with these kind if questions

Answer 11

I understand we all stuggle in something

Answer 12

It’s goingto be either a or d based on the information provided he’s making payments on time so that rules out both b and c saying he has bad debt.

Answer 13

Very True ^

Answer 14

It’s been awhile since I’ve done anything like this, but I’m going to agree with everyone else and go with d

Answer 15

Well I hope you pass the question

Answer 16

Alright, wish me luck! Thanks for the help to everyone.