Managing Credit

Muddy Point Review from last class

EQ - How do I obtain credit?

1. Activator - Brainstorm ways to borrow or obtain credit? (List on board)
2. Reveal
3. Discussion of sources of borrowing/obtaining credit
4. Usury Laws
5. Today's Meet Summary

EQ - How can poor credit management impact your personal financial situation?

Lesson PowerPoint

1. Activator - Brainstorm 3-5 signals that show a person is getting into financial trouble with credit.
2. Discussion Question - What can a person do to improve a troubling financial situation?
3. Intro - Credit Counseling
1. What is credit counseling?
2. How does credit counseling work (Key activities)?
3. Where can you find assistance?
4. Muddy Points
4. TPS: Bankruptcy - 2 Forms
1. Foldable
1. Type of bankruptcy (Defined/What?)
2. How does it work?
3. Benefits?
4. Drawbacks?
5. Knowledge Check
1. Identify 7 warning signs that a person is in financial trouble.
2. Explain the 2 main activities of the CCCS?
3. Describe two options when declaring bankruptcy.
4. Why might it be easier for someone to obtain credit if they have filed Chapter 13 bankruptcy instead of Chapter 7 bankruptcy?  Support your answer with specific details from the entire Credit Unit.
5. Managing Debt - Credit decision making
6. Debriefing
7. Muddy Points