PPT-Slide 1 3-1 INTRODUCTION TO CONSUMER CREDIT

OBJECTIVES Define the basic vocabulary of credit terms Identify types of lending institutions Compute finance charges for installment purchases Slide 2 Key Terms credit. Too Much or Too Little. (or Just Right?). Jonathan . Zinman. Dartmouth, IPA, NBER, etc.. October 2013. Motivation. Many policy efforts to . increase. consumer credit supply. Loan guarantees (e.g., FHA). JAMES A. FRANCIS. Francis & Mailman, PC. Land Title Building, 19. th. Floor. 100 South Broad Street. Philadelphia, PA 19110. Phone: 215-735-8600. Fax: 215-940-8000. E-mail: . jfrancis@consumerlawfirm.com. Beginnings of Consumer Credit. 1890s: Express Travelers Checks introduced. 1914: Retailer-issued credit cards. 1920s. Service . stations, department stores and hotel chains began offering . credit accounts to customers. Karin Sein, dr iur. Associate Professor of Civil Law, University of Tartu. Introduction. SMS/electronic consumer loans – modern form of usury?. Leads to irresponsible borrowing practices and over-indebtedness of the consumers. 7. July 2015. 2. Disclaimer for presentation. . T. his presentation is intended to provide a general overview for information and educational purposes only and is. . not a comprehensive treatment of the subject matter.  The information is provided generally without considering specific circumstances and should not be regarded as a substitute for professional advice.  The Investor Education Centre (“IEC”) has not advised on, passed on the merit of, endorsed or recommended any of the products/services or types of products/services referred to in this presentation.  Readers/Audiences should seek professional advice if they consider necessary.. Funded by . the . Consumer Action Insurance . Education . Project. What you will learn. Why you need auto insurance. The types of coverage available. How to determine your coverage needs. Why good credit matters. Slide. . 1. 1. List the 3 major credit bureaus. 2. What's the highest credit score you can have?. 3. What is the name of the standard credit score? . Hint – 4 letter word starting with F. 4. What is the consumer law that requires the costs of a loan to be provided in writing to consumers?. Fair Credit Reporting Act. 2. The Fair Credit Reporting Act (FCRA) is a federal law that regulates the collection, dissemination, and use of consumer information.. The FCRA promotes the accuracy and privacy of information in consumer credit reports.. reports and credit scores. Presented to name/names. Presented by Name of Presenter. Day/Month/Year. Disclaimer. The purpose of this presentation is to help you better understand credit reporting and to provide general information about how you can manage your credit report so that you can get the credit you need and want. Outstanding money owed by consumers. Examples. Credit Card Debt. Student Loans. Mortgages. Why Is This Important?. Americans Love Debt. At the end of 2010, Americans had $1,117,000,000 in CREDIT CARD DEBT. Debt Management Advisory Services - What the Council . can . do . Based on the guidelines given in the Consumer Credit Act 1999, the Council offers Debt Management Advisory Services.. Under this programme, the Council can assist you with:. Family Economics & Financial Education. Credit Reports. Credit report - . a record of a . consumer’s transactions involving credit. No credit report if you have never used . credit. Affects your ability to acquire . OBJECTIVES. Explain how you can develop a credit . history. Examine factors . to . consider when . deciding which credit card to . secure. Define . three . factors that creditors consider when . granting credit. December 2014x0000x0000 x/Attxachexd /xBottxom x/BBoxx 6x665x34 5x090x7 29x604x 61x /Sxubtyxpe /xFootxer /xTypex /Paxginaxtionx 000x/Attxachexd /xBottxom x/BBoxx 6x665x34 5x090x7 29x604x 61x /Sxubtyxp