Ch 6: Personal Credit & Loans
About This Chapter
Personal Credit & Loans - Chapter Summary and Learning Objectives
Managing personal credit is a vital skill in today's economy. These lessons provide information on the differences between credit and debit cards, major and retail credit cards, what the primary types of credit are and how they work. You can also watch engaging videos that provide information on bankruptcy, credit protection and more. In these lessons, you'll learn things like:
- What financing is and how it works
- The primary forms of consumer credit
- The laws governing and regulating credit protection
- What a personal credit report is and how to access it
- What the creditor's rights are in a bankruptcy case
- An overview of personal loans
| Video | Objective |
|---|---|
| What Is Financing? - Definition & Types | Gain an understanding of what financing is and the types of financing plans most commonly available. |
| Consumer Credit: Types & Differences | Understand installment closed-end credit and non-installment and revolving open-end credit and learn to differentiate between types of credit cards. |
| What Is Credit Protection? - Laws & Services | Learn about the laws that regulate credit protection and the services that are available. |
| Personal Credit Report: Explanation of Contributing Factors | Learn to identify, read and comprehend a personal credit report, and the factors that affect it. |
| Creditor Rights in Bankruptcy | Find out what happens in a bankruptcy situation. |
| Personal Loans: Loan Maturity & Interest Rates | Understand the processes involved in filing for a loan, including interest rates, etc. |
1. Credit & Debt in Personal Finance
Credit and debt are the foundation of any form of finance. This lesson highlights the pros and cons of credit and debt as they pertain to personal finance.
2. Factors That Affect Credit Worthiness
Access to credit to pay for education, a house, a car or other items is an important part of managing personal finances. In this lesson, you'll learn what factors lenders consider when deciding whether to loan someone money and what interest rate they will charge.
3. Personal Bankruptcy: Law & Types
There are several different types of bankruptcy, but only two are designed for individuals. This lesson explains these two types: Chapter 7 and Chapter 13 bankruptcy.
4. 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.
5. What Is Financing? - Definition & Types
People borrow money to purchase homes, cars, boats, or anything else they don't have the money for at the moment they want to make the purchase. In this lesson, learn what financing is, as well as different types of financing used every day.
6. Consumer Credit: Types & Differences
In this lesson, we'll discuss creditworthiness and different types of consumer credit: installment, non-installment, and revolving credit. You'll also learn about repayment requirements for each and if there's a cost to borrowing the money.
7. What Is Credit Protection? - Laws & Services
Credit protection is a form of consumer protection that is designed to help preserve credit health for both individuals and businesses. This lesson discusses the laws and services involved in credit protection as well as the FTC's role.
8. Personal Credit Report: Explanation of Contributing Factors
In this lesson, we'll discuss your credit report and score. You'll also learn about the contributing factors of history, maximization, time, and composition.
9. Personal Loans: Loan Maturity & Interest Rates
In this lesson, we'll explore personal loans. You'll learn about the application process and see how credit score can affect the loan amount, interest rate, and repayment period.
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Other Chapters
Other chapters within the Finance 102: Personal Finance course
