Question

Francina, who just started her first job, had been repaying her luxury sports car loan until she stopped payments two months ago. Her car was repossessed. What could have been good preventive behavior in this case?

Answer 1

Answer:

Not taking out a loan in the first place to buy that car

Explanation:

She obviously didn' t plan very well in the first place and just wanted to show off cause she got a new job. Maintaining oneself in personal budget is pretty important.

Answer 2

The best preventive behavior in this case would have been to report the situation to the Consumer Financial Protection Bureau.

What is the role of Consumer Financial Protection Bureau?

It is an agency that enforces that the markets for consumer financial products are fair, transparent and competitive.

Therefore, she could report to the Consumer Financial Protection Bureau agency to recover the car back because she have been making repayment for the car loan.

Read more about CFPB

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