Types of Debt Period 7 by Cesar Rangel https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3 Post your questions and then your answerin the same place. Complete your part and then fill out your Graphic Organizer with your classmates answers en-us 2021-11-15 07:14:01 UTC 2025-12-24 22:55:07 UTC hello@padlet.com Mortgage rangel_cesar1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891709669 2021-11-15 16:10:31 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891709669 Credit Card rangel_cesar1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891710675 2021-11-15 16:10:47 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891710675 Home Equity Loan rangel_cesar1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891711496 2021-11-15 16:11:05 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891711496 Auto Loan rangel_cesar1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891712410 2021-11-15 16:11:26 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891712410 Student Loan rangel_cesar1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891713257 2021-11-15 16:11:45 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891713257 Medical Debt rangel_cesar1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891713978 2021-11-15 16:12:01 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1891713978 Why do people get into this kind of Debt? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892270962 People get into this kind of debt from many years of tuition and not sufficient money to pay off the loan.  ]]> 2021-11-15 20:09:25 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892270962 Other facts to know. 1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892274215 Accounting for 70% of all American debt, mortgage debt carries the highest total at $10.44 trillion. Forty-two percent of households have mortgages. That's over 51.5 million total American households]]> 2021-11-15 20:11:07 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892274215 Other facts to know (statistics) - Auto Loan Debt: Fact I https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892275008 An auto loan typically has a length of three to seven years.]]> 2021-11-15 20:11:31 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892275008 How does this debt affect their financial life? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892276469 Some peoples debt becomes so big that it can make people work their entire life just to pay off this debt. Or people can get a high paying job to make paying it off easier]]> 2021-11-15 20:12:21 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892276469 Others facts to know. https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892276877 In 2017 2.4% of all credit card debt carrying Americans had delinquencies on their debt ]]> 2021-11-15 20:12:36 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892276877 Other facts to know (statistics) - Auto Loan Debt: Fact II https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892277897 An auto loan is a type of secured loan, which means that the car you buy is collateral for the loan.]]> 2021-11-15 20:13:15 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892277897 Why do people get into this kind of Debt? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892279906 -unexpected medical issues.
-reduced insurance coverage.

]]> 2021-11-15 20:14:16 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892279906 why do people get into this kind of debt? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892281577 If you can't pay off your car in full when buying it then you usually end up with this kind of debt.]]> 2021-11-15 20:15:08 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892281577 Other facts to know(statistics)-Home Equity Loan Debt- https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892283020 A loan for a fixed amount of money that is secured by your home.

]]> 2021-11-15 20:15:58 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892283020 why do people get into this kind of debt? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892284002 some people decide to use this type of debt because it can be easy to use.Also it is a fixed-rate loan secured against the value of your home. If the borrower defaults, the lender gets to keep all the money earned on the initial mortgage, A secured loan can be more advantageous than the typical unsecured or personal loan.]]> 2021-11-15 20:16:29 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892284002 Other facts to know(statistics)-Home Equity Loan Debt- https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892284812 You repay the loan with equal monthly payments over fixed term, just like your original mortgage.

]]> 2021-11-15 20:16:55 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892284812 why do people get in card debt https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892285424 Most people get in this debt because they open many accounts and are unable to pay off amounts of money they have on their other accounts.]]> 2021-11-15 20:17:16 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892285424 How does this debt affect your financial life? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892285741 A monthly payment for a new car can range between $450-$600+ on average. This monthly expense is a huge chunk of someone’s check and can be the deciding factor on shaping the rest of someone’s budget.]]> 2021-11-15 20:17:28 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892285741 How does Credit Card Debt affect someones financial life? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892285912 Credit card debt can affect someones financial life, by having to pay tons of money, plus credit card debt can also prevent you from saving money, since you'll have almost no spare money left. Credit Card not only affects someone financially but mentally and physically, credit card debt often causes stress, which can cause joint pain, or stiffness, and even has been linked to not finding enjoyment or even have the energy to do daily activities.]]> 2021-11-15 20:17:35 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892285912 Why do people get into this type of debt? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892289622 People get into mortgage debt in order to purchase real estate with a series of payments, instead of paying the whole value up front. ]]> 2021-11-15 20:19:41 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892289622 Other facts to know(statistics) Home equity Loan Debt- https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892290813 Today, with a home-equity loan, homeowners can borrow up to $100,000 and still deduct all of the interest when they file their tax returns ]]> 2021-11-15 20:20:26 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892290813 Other facts to know https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892294530 An Access Project study showed that two-thirds of people with a medical bill or debt problem went without needed care because of the associated costs.

]]> 2021-11-15 20:22:35 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892294530 How does this debt affect their financial life https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892299910  -When you convert medical expenses into credit card debt, the expense becomes consumer debt and you becomes a subject with associated penalties and fees.
- Consumer affects the ability to secure a mortgage, pass a credit card for rental applications, and getting a job.]]> 2021-11-15 20:25:49 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892299910 Other facts to know. https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892302340 17.5% of Americans carry student loan debt.In 2017 approximately 1 million adults carrying student loan debt defaulted on their loan.
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]]> 2021-11-15 20:27:14 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892302340 How does this debt affect their financial life? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892303226 Your home secures the loan so your home is at risk.Also you can’t get a home equity loan with too much debt or poor credit.]]> 2021-11-15 20:27:46 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892303226 Other facts to know about -Student Loan- https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892319407 College tuition costs have left many students with no other option but to take out loans to pay for college. Most federal student debt is now serviced by Navient, the company formerly known as Sallie Mae.]]> 2021-11-15 20:37:41 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892319407 How does credit card debt affect someones financial life? https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892333451 Having debt can affect you because it can drive you to a low credit score that impacts your ability to get a low rate loan. It can also affect you when wanting to buy a house or wanting to rent.

]]> 2021-11-15 20:45:49 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892333451 How does this debt affect someones financial life rangel_cesar1 https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892370400 debt affects their financial life by in residential mortgage , buyers pledge there houses to the bank also the bank has a claim on it but the case of forecloser  that can effect the home tenants and sell the house by using income and can clear moregage debt ]]> 2021-11-15 21:09:51 UTC https://padlet.com/rangel_cesar1/y0vyj9nxrtt2skt3/wish/1892370400