At the end of the discussion, the students are expected to:
1. Know the main purpose of credit agencies
2. Identify the services offered by CMAP
3. Enumerate the bases of credit
4. Found out the ways on how to prevent frauds on collateral
5.
I. INTRODUCTION:
The credit agencies and Credit Management Association of the Philippines are those that utilize our financial system. In order for our economy grow and prosper for being united in the field of financial management. There are 5 bases of credit which is character, capacity, capital, collateral and condition. There are also ways on preventing fraud on collateral.
II. BODY:
A. CREDIT AGENCIES It is simply means collecting or gathering information of individuals and businesses debts in order
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CREDIT MANAGEMENT ASSOCIATION OF THE PHILIPPINES
(CMAP)
The main function of CMAP is to properly and wisely allocated and utilize the financial resources. They are also the one that governs all financial institutions that provide loans and credit. Banking, financing, services, trading, manufacturing and insurance sectors are the members of CMAP. Their man goal is to instill, develop and nurture credit consciousness. *Services Offered
1. Quarterly Survey of Credit and Collection Bureau Every quarter of the year member of the companies are surveyed by the association office (a) to compare their individual experience on the collection situation (b) to identify the prevailing terms of sale, billing of receivables, and ratio of bad debts to gross credit sales (c) aging of receivables.
2. Listing of Overdue Accounts The association provides names of accounts that overdue the standardized terms of the reporting company.
3. Listing of Court Cases They also compiled the list of court cases in the categories of sum of money, replevin and estafa fields in the different courts within the cities and towns of Metro
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BASES OF CREDIT 1. CHARACTER One of the most important things to consider is the character of the borrower because it reflects his personal integrity and his determination to pay can be evaluated by his pat business record. It also indicates the willingness of the borrower to discharge his financial obligation which is to pay the loan as promised. Personal habits, vices, and attitude the borrower are also included. 2. CAPACITY The main concern of this is the managerial ability of the borrower. If he can use efficiently and wisely the loan should also be observed. Capacity is just like signing a valid contract. Age and health of the debtor are two important things to consider because it impairs their ability to pay. 3. CAPITAL It refers to the resources owned by the debtor. The more resources you have the greater chance you can obtain the credit. 4. COLLATERAL It is just like securing your loans and shielding the interest of the creditor from bad debts. Through collateral, the incidence of risk of bad debt becomes minimized. For example, mortgages are secured by homes.
These are several types of collateral, the most important of which are the
J. “Tangible Personal Property “ shall mean all of Debtor 's clothing, jewelry,furnture, furnishing, household goods, motorized vehicles, sport & hobby equipment and objects of art, valued at purchase of more then $200.00, that can not be claimed by a third party. K. “Income”, “Funds”, “Distributions” shall mean transfers, payouts, capital, and/or releases to Debtor and or third party agent of Debtor. To include to Debtor 's business interests. L.
(1995). Gregg v. Georgia, 1976. Retrieved from http://www.lectlaw.com/files/case26.htm Chicago-Kent College of Law. (2015)B. Jurek v. Texas. Retrieved from https://www.oyez.org/cases/1975/75-5394 Chicago-Kent College of Law.
With a vision to offer the most needed monetary resource, they are persistent in their efforts to deliver a world of right to use, comfortable and accessible financial services. The America First Credit Union is one of the biggest, established and most enlightened credit union in the U.S. with its members possessing it and its foundation not for income generation but to allow its members manage their finances in a way they want. In respect to their positive longing to influence the lives of their members and the public as a whole, they are expanding their business to make sure that the business serves its purpose having encountered financial problems in the olden times.
The purpose is “to develop, implement, and establish standards for accounting and financial reporting activities are accurate and reliable, and the resulting financial reports are as accurate and beneficial to the end users.” The end users that are discussed in the purpose are the outside users of the financial statements. Outsider users are……
Court Systems: Comparing Canada, the United States, and Mexico This paper is a discussion of the court systems of Canada, the United States, and Mexico. The aim of the paper is to point highlight similarities and differences in each judicial system. It will allow the reader an insight to the how each country operates its judicial branch.
The Consumer Financial Protection Bureau states that 75% of the industry’s fees come from borrowers who take out more than 10 loans a year. The Center for Responsible Lending is a nonprofit, non-partisan organization that focuses on fighting predatory lending practices. The director of state policy Diane Standaert argues that payday loans are not how the industry advertises them to be, and that borrowers have no choice but to roll over their loans many times, which rises the interest fees, trapping the low-income borrowers in an endless loop. The Center for Responsible Lending offers a yearly interest percent cap at 36%, claiming it to be reasonable standard for borrowers to pay back. However, Jamie Fulmer, the spokesperson for Advance America, one of the United State’s biggest payday lenders, argues that the proposed price cap is not reasonable at all, since they cannot make a reasonable profit from that, and explains further that the payday-loan interest
Exchanges are for same-day settlement. In the consequence of the 2008 budgetary emergency, the Fed has given careful consideration to the hazard made when slack between when installments are made at a young hour in the day and when they are settled and accommodated. Expansive budgetary organizations are being forced by the Fed to enhance constant checking of installments and credit chance, which has been accessible just on a finish of-day premise. The Federal Reserve is focused on guaranteeing that buyer and group viewpoints educate Federal Reserve arrangement, research, and activities, with the mission of advancing a reasonable and straightforward customer budgetary administrations commercial center and viable group improvement, including for customarily underserved and financially helpless family units and
Texas has two high-courts, the Supreme Court and the Court of Criminal Appeals, each have 9 justices. Below the two high-courts is the Court of Appeals with 14 courts, 80 justices, followed by district Courts, which have 456 courts with 456 judges, and the County-Level Courts having 505 Courts and 505 judges. Below these are the municipal courts in 920 cities, 6 towns with 1559 judges and justice of the peace courts having 819 courts with 819 judges. Overlapping of jurisdictions causes great confusion add to the confusion is that “some courts have specialized jurisdiction, whereas others have broad authority to handle a variety of cases” (277) creating a “hodgepodge of courts” (277). Reforms within the Texas court system is clearly needed and many reforms have been recommended from merging the Texas Supreme Court with the Texas Court of Criminal Appeals, reducing the number of judges and justices, revamping jurisdictions for all courts and having no overlapping jurisdictions.
attack students with mail? (Macias 282). All of those phrases evoke a negative feeling about credit card companies. Macias also does a great job portraying that credit card companies see college students as ? easy targets?
In America, the judiciary has a legal system that helps solve any personal, economic, social, and political problems or cases. These cases are withheld in a court and presented to a judge and either a grand, petite, or hung jury to finalize their jurisdiction on the problem. In this essay, I will explain the structure of the Texas court system and their type of cases. To start, civil and criminal cases are two types of cases in this legal system. Civil cases handle private rights and remedies, personal injury suits, divorces, child custodies, or breach-of-contracts.
Danny Schechter wrote Investigating the Nation’s Exploding Credit Squeeze, two years before the 2008 world crisis. It is said that only true crisis can lead to change, an explanation to why so many people ignored the signs. Everyone is a target to the credit industry, not only the poor or middle classes. In a consumption driven culture, it is impossible not to spend your money and get into debt. Products seem fairly cheap, companies are always suggesting that you are making “a great bargain”, “buy two and one free” and it seems that everything is always “on sale” (Schechter 357).
What does it mean to have character? Character is what makes each person so individual. Character is very specific to each person, and everyone’s character is different. Character can be broken down into six different pillars; each one exemplifying what is truly means to be a Nation Honor Society candidate, which is why character continues to be one of the most important pillars in National Honor Society.
Firms with excessive liabilities may run into severe trouble, even if they are otherwise successful entities. In finance, the term leverage refers to the ration between the firm 's liabilities and equity and is calculated by dividing total liability by shareholder equity. Note that some analysts prefer to use only long-term liabilities, which are payment obligations coming due in one year or more, when calculating leverage. The more common leverage formula, however, incorporates all liabilities. If stockholder equity is less than total liability, the firm 's leverage ratio will be greater than 1.
Thus, it stands to reason that the article’s purpose is to support the argument that predatory lending practices are at fault for the debt young adults experience. Macias uses personal experience immediately peppering in researched data to support his findings and conclusions on how the credit card industry wholeheartedly takes advantage of young America. His article captures the reader’s focus by appealing to pathos and tugging at pity in the reciting of how Macias was taken advantage of by credit lenders. Carlos Macias’s argument for the debt accrued by college aged adults being the fault of the credit card companies themselves roots itself in his rhetoric. From his skillful hooking of the audience with information garnered from personal experience to the utilization of logos throughout the paper presenting itself as careful and reliable research.
Entrepreneurship in the Philippines is currently booming and one of the best things a person can do today is start taking action in putting up its own business or acquiring a franchise (Louren, 2017). Entrepreneurship is a state of mind. It is not identified or measured with the type of business a person is in the success of that business but rather it is the total way of life for entrepreneurs. Being an entrepreneur requires distinct personality traits such as having a risk-taking personality, need for achievement, internal focus of control, tolerance for ambiguity and having a type A behavior or striving to achieve more in less time and general competitiveness (Gilles and Mondejar, 2008). Entrepreneurship has been described as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit” (www.businessdictionary.com).