1.4 Protecting Assets

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Module Summary
While housing counseling involves assisting clients to build and manage their finances, it is also important for housing counselors to understand how to protect assets. In this module, you’ll learn about types of predatory lending to avoid and how to protect identity information against theft and fraud. You’ll also learn about bankruptcy, including how to describe the difference between Chapter 7 and 13 bankruptcies, explain the impact to financial health, and address appropriate times to discuss bankruptcy.

Learning Objectives
By the end of this module, counselor will be able to:

  • Advise a client about common types of predatory lending and how to avoid these practices with improved credit habits.
  • Describe to a client how to protect personal identity information and action to take when confronted with identity theft.
  • Explain how Chapter 7 and 13 bankruptcy affects credit scores, lending decisions and rental applications.
  • Comprehend what is appropriate to discuss regarding the topic of bankruptcy with a client.