CONSUMER LOANS PERSONAL FINANCIAL PLANNING DR. AA NEIDERMEYER.

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Presentation transcript:

CONSUMER LOANS PERSONAL FINANCIAL PLANNING DR. AA NEIDERMEYER

TYPES OF LOANS AUTO DURABLE GOODS EDUCATION PERSONAL CONSOLIDATION

EDUCATION LOANS STAFFORD PERKINS SUPPLEMENTAL PARENT

SOURCES OF CONSUMER LOANS COMMERCIAL BANKS CONSUMER FINANCE COMPANIES CREDIT UNIONS SAVINGS AND LOAN ASSOCIATIONS SALES FINANCE COMPANY LIFE INSURANCE COMPANIES FRIENDS AND RELATIVES

MANAGING YOUR CREDIT FINANCE CHARGES LOAN MATURITY TRANSACTION COSTS COLLATERAL TIMING OF PAYMENTS

FINANCE CHARGE OPTIONS SIMPLE INTEREST METHOD DISCOUNT METHOD

INSTALLMENT LOAN PROFILE SECURITY AGREEMENT PROVIDES COLLATERAL ARRANGEMENT FOR SELLER NOTE BINDS THE PARTIES CREDIT LIFE INSURANCE?? ?? ACCELERATION CLAUSE, REPOSSESSION, BALLOON PAYMENT

INTEREST COMPUTATION SIMPLE ADD-ON NOTICE THE “APR” DISCLOSURE ?? PREPAYMENT PENALTY