About This Chapter
Who's It For?
Anyone who needs help learning or mastering loan, payment and debt material will benefit from the lessons in this chapter. There is no faster or easier way to learn loans, payments and debts. Among those who would benefit are:
- Students who have fallen behind in understanding loans, payments and debts
- Students who struggle with learning disabilities or learning differences, including autism and ADHD
- Students who prefer multiple ways of learning money management (visual or auditory)
- Students who have missed class time and need to catch up
- Students who need an efficient way to learn about loans, payments and debts
- Students who struggle to understand their teachers
- Students who attend schools without extra money management learning resources
How It Works:
- Find videos in our course that cover what you need to learn or review.
- Press play and watch the video lesson.
- Refer to the video transcripts to reinforce your learning.
- Test your understanding of each lesson with short quizzes.
- Verify you're ready by completing the Loans, Payments & Debts chapter exam.
Why It Works:
- Study Efficiently: Skip what you know, review what you don't.
- Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
- Be Ready on Test Day: Use the Loans, Payments & Debts chapter exam to be prepared.
- Get Extra Support: Ask our subject-matter experts any loans, payments and debts question. They're here to help!
- Study With Flexibility: Watch videos on any web-ready device.
Students Will Review:
This chapter helps students review the concepts in a loans, payments and debts unit of a standard money management course. Topics covered include:
- Types of loans
- Mortgages and promissory notes
- Debt collection and repossession rights
- Explaining secured transactions
- Calculating monthly loan payments
- Installment purchases
- Creditor rights in bankruptcy
- Cash vs deferred payments
1. What is a Loan? - Definition, Types, Advantages & Disadvantages
Learn what a loan is and some of the most common types of loans that people get. Find out which loans are best for different situations and some of the advantages and disadvantages of getting a loan.
2. What is a Mortgage? - Definition & Purpose
Learn about one of the largest loans most people will ever encounter. Find out about the key elements to a mortgage and how a mortgage works when buying a home.
3. Promissory Note: Terms & Calculations
Watch this video lesson, and you will learn how some promissory notes, such as mortgages, can be sold and why they are sold. Learn about the terms or conditions that go into such a note and how money is made with these notes.
4. Calculating Monthly Loan Payments
Watch this video lesson and learn how you can calculate your monthly payment when you are thinking of purchasing a car. Okay, you can also use this formula whenever you are getting a loan!
5. Installment Purchases: Payment & Terms
After watching this video lesson, you will know how installment purchases work. Learn how you can calculate the amount of your fixed installment payment.
6. Deferred Payment vs. Cash Price: Calculation & Interest
Watch this video lesson to learn the difference between paying cash up front for an item versus making payments at a later time for an item. Watch and see how you may end up paying more for an item if you pay later.
7. Creditors' Rights and Business Law
Business law is a broad area of law that covers many different topics. One important topic concerns creditors' rights. This lesson generally explains the role of creditors and creditors' rights in terms of business law.
8. Secured Transactions: Examples & Explanations
A secured transaction is any deal in which a creditor receives a security interest in the debtor's property. This lesson explains what a secured transaction is and how these transactions work.
9. Debt Collection and Repossession Rights
When a debtor fails to make payments on a secured loan, the creditor can usually reclaim the collateral. This lesson explains when a creditor has a right to repossession or foreclosure.
10. Creditor Rights in Bankruptcy
Bankruptcy is governed by federal law and allows a debtor the legal right to reorganize, and sometimes discharge, his or her debts. This lesson explains the three main types of bankruptcy proceedings.
11. Bridge Loans: Definition, Requirements & Example
A bridge loan can provide a valuable financing option for people who may not be able to sell their current home before they need to purchase a new one. Let's take a look at bridge loans and some of the requirements to apply for one.
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