Question

The Jones family would like to buy a home, but they have a large amount of debt that has led to a weak credit score. What step could the Jones family take to improve their credit?
A)They could ask a credit agency for assistance with paying off debt.
B)They could declare bankruptcy to eliminate the debt they owe.
C)They could hire a financial adviser to figure out how to pay off their debt.
D)They could ask creditors to defer loans while they apply for a mortgage.

Answer 1

Answer:

C) They could hire a financial adviser to figure out how to pay off their debt.

Explanation:

Financial advisors can provide help in how to manage debt in order to be able to plan for a sound financial future. Through the analysis of the debt owned by a client, the financial advisor can work to prioritize the client's debt payback plan. They usually provide a variety of services, like investment administration, income tax preparation and estate outlining.

Answer 2

From the situation which is that the Jones family would like to buy a home, but they have a large amount of debt that has led to a weak credit score. So the step that could the Jones family take to improve their credit is that D)They could ask creditors to defer loans while they apply for a mortgage. This will help them pay for their debts.