Page 5 - Book1E

Contents
About Family Financial Education Foundation . . . . . . . . 1
A Little Background
Meet our Officers and Board of Directors
An Introduction to the FFEF Roll-Up Process Additional Acceleration Is Possible
2
3
4
5
6
1
A Brief History of Consumer Debt, Credit Cards, andConsumerCreditCounseling......... ........5
Consumer Debt
Credit Cards
Consumer Credit Counseling
AboutSecuredandUnsecuredDebt............... 11
Secured Debt
Unsecured Debt Consequences of Ignored Debt
Debt Collectors and Fair Debt Collection Practices . . . 17
Common Questions about Debt Collection Prohibited Debt Collection Practices
Let’s Review Exercise
Too Much Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Credit Cards—The Illusion of Convenience
Paying the Minimum Is Really Paying the Maximum Credit Increase Offers
Let’s Review Exercise
Poor Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
Inability to Handle Emergencies Borrowing from Friends and Family Payday Loans
III