Description

Overview:

Students learn that bankruptcy is a federal court proceeding designed to help individuals address debt problems and to provide fair treatment to creditors. They learn the six different types of bankruptcy; however, the lesson focuses on the two types of bankruptcies used mostly by consumers: Chapter 7 and Chapter 13. They analyze bankruptcy terms and learn the similarities and differences between Chapter 7 and Chapter 13 procedures. They also participate in an activity that requires them to work collaboratively to match a bankruptcy step with its correct description. As an assessment, they review scenarios and suggest the best bankruptcy option. This lesson assumes that students are familiar with credit, uses of credit, types of credit, and basic credit terminology.

Subject:

Economics

Level:

High School

Grades:

Grade 9, Grade 10, Grade 11, Grade 12

Material Type:

Lesson, Lesson Plan

Author:

Vicki Fuhrhop

Provider:

Federal Reserve Bank of St. Louis

Provider Set:

Economic Lowdown Lessons

Date Added:

09/11/2019