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Which of the following is not a purpose of credit counseling?
O A. To provide borrowers with short-term loans
O B. To help a borrower avoid bankruptcy
O C. To help a borrower develop a debt management plan
O D. To teach good borrowing habits
the

Answer :

PARRAINGO

All the above are the purposes of credit counselling except A. To provide borrowers with short-term loans

Credit counselling refers to advice given to borrowers to:

  • Help them avoid bankruptcy
  • Help them develop a debt management plan
  • Teach them habits that will ensure they don't borrow in a dangerous way

Debt counselling is meant to help borrowers avoid the adverse effects of borrowing and is not meant to provide borrowers with even more avenues for borrowing.

In conclusion, credit counselling is not meant to provide borrowers with more loans.

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