This course provides comprehensive knowledge and practical skills for managing credit and debt effectively throughout different life stages. Students will explore the fundamentals of credit systems, debt instruments, and strategic approaches to borrowing and repayment. The course covers credit scoring mechanisms, various types of consumer and business debt, and evidence-based strategies for debt reduction and credit optimization. Emphasis is placed on developing responsible borrowing habits, understanding the legal and regulatory environment, and creating sustainable debt management plans that align with personal and organizational financial goals.

Key Topics

1. Credit Systems and Scoring Mechanisms – Understanding how credit reporting works, factors affecting credit scores, credit bureau operations, and strategies for building and maintaining excellent credit profiles over time.
2. Types of Debt and Credit Instruments – Comprehensive examination of various debt types including mortgages, student loans, credit cards, personal loans, business debt, and alternative lending products with their respective terms and conditions.
3. Debt Analysis and Assessment – Methods for evaluating debt capacity, debt-to-income ratios, cost of borrowing analysis, and techniques for prioritizing debt repayment based on interest rates, terms, and financial impact.
4. Strategic Debt Management Planning – Development of systematic approaches to debt reduction including debt snowball and avalanche methods, consolidation strategies, refinancing options, and balance transfer considerations.
5. Legal and Regulatory Framework – Understanding consumer protection laws, fair lending practices, bankruptcy procedures, debt collection regulations, and rights and responsibilities of borrowers and lenders.