Consumer Credit Fundamentals by Steven Finlay (auth.)

By Steven Finlay (auth.)

Show description

Read Online or Download Consumer Credit Fundamentals PDF

Similar risk management books

Financial Risk Manager Handbook

I've got used this publication as a textual content for a graduate point monetary threat administration direction, in education for the GARP FRM examination (which I passed), and as a reference professionally. The instruction manual promises precisely what it says it is going to, and serves as an exceptional primer prior to moving into the heavier, extra distinctive assigned readings (this isn't really an assigned interpreting for the FRM examination, brain you).

COSO Enterprise Risk Management: Understanding the New Integrated ERM Framework

Compliment for COSO firm possibility Management"COSO ERM is a considerate creation to the demanding situations of hazard administration on the firm point and includes a wealth of data on facing it by using the COSO framework. particular systems protecting a wide selection of events are by means of an intensive clarification of the way every one is deployed.

Handbook of Explosion Prevention and Protection

Among them, the popular staff of editors and authors have collected remarkable event at such institutes as BAM, PTB, Pittsburgh nationwide Institute for Occupational overall healthiness and safeguard, BASF AG, and the college of Göttingen. during this work-the first of its style for 35 years-they describe intimately these measures that hinder or restrict commercial explosions and the wear and tear so brought on.

The Doom Loop in the Financial Sector: And Other Black Holes of Risk

Some time past years, the area has skilled how unsound monetary practices can disrupt worldwide monetary and social order. Today’s risky international monetary scenario highlights the significance of handling threat and the results of bad selection making. The Doom Loop within the monetary region unearths an underlying paradox of danger administration: the higher we turn into at assessing hazards, the extra we consider cozy taking them.

Extra resources for Consumer Credit Fundamentals

Example text

While usury was a charge made by a lender to secure a profit from the borrower – money made from money – interest was compensation for loss of the use of funds during the period of the loan. If the moneylender had not lent the money, they could have reaped a profit from its productive or commercial use elsewhere and should therefore receive recompense for their loss (Homer and Sylla 1996 p. 73). Lending on interest once again became widely practised, particularly in support of expanding international trade, and helped support the resurgence of the medieval economy in the eleventh and twelfth centuries.

The key difference from a personal loan is that no cash is advanced to the customer – the credit is restricted. The customer signs an agreement, receives the goods and then makes regular repayments until the debt is satisfied. In some cases a deposit will be required in order to limit the overall exposure of the lender, with 10 or 20 percent a common amount. In the UK most retail credit agreements are undertaken on a credit sale basis – with the goods becoming the immediate property of the customer.

6 The cost of credit The cost of credit is the additional amount over and above the amount borrowed that the borrower has to pay. It includes interest, arrangement fees and any other charges. Some costs will be mandatory, required by the lender as an integral part of the credit agreement. Other costs, such as those for credit insurance, may be optional, with the borrower choosing whether or not they are included as part of the agreement. Interest is a charge made in proportion to the amount and term of the loan, expressed as a percentage of the total sum borrowed per unit time.

Download PDF sample

Rated 4.56 of 5 – based on 12 votes