Speaker Paper: Presentation Given by Attorney and Chapter 7 Bankruptcy Trustee Mr. William J. Leberman

Speaker Paper: Presentation Given by Attorney and Chapter 7 Bankruptcy Trustee Mr. William J. Leberman

For this speaker paper, our class listened to a presentation given by Mr. William Leberman who is an attorney and Chapter 7 Bankruptcy Trustee. Mr. Leberman’s presentation was titled “CARE” or Credit Abuse Resistance Education. In Mr. Leberman’s profession, he deals with a lot of bankruptcy and people that are having trouble economically that need to file for bankruptcy. In Mr. Leberman’s presentation, he talked to us about the basics of resisting credit abuse and staying financially stable as individuals as we become older and more independent financially. Using “CARE” in his presentation, Mr. Leberman presented the class with a lot of valuable information that has the potential to greatly affect our lives in the future.

In Mr. Leberman’s speech about “CARE”, one of the first topics he discussed was actually defining what credit abuse was and also how it affected the United States as a whole. Within this topic, Mr. Leberman talked about predatory lending which is unfair, deceptive, or fraudulent practices of some lenders during the loan origination process. He also discussed the credit industry marketing and consumerism in our country and the effects on the United States economy. Mr. Leberman also brought up the increasing unfortunate problem of foreclosure and repossession as a result of bankruptcy. The next topic that Mr. Leberman presented to the class was how credit abuse affects us personally. He presented us with examples about how credit abuse can have major negative impacts on many aspects of our lives including education, employment, housing, economics, and personal health. Believe it or not, there are many ways that credit abuse can come back to haunt you in ways that you couldn’t even imagine that could hurt you when trying to get into a good school, getting a job, buying a house or car, or even getting medical assistance. Credit abuse is a very serious thing that has the potential to affect our lives in many different ways, and should not be taken lightly.

Another topic that Mr. Leberman discussed with the class, which could be the most important topic of the presentation, was how to resist credit abuse. Mr. Leberman gave us a very extensive list of ways to resist and avoid credit abuse. Among these tips, some of the most important included understanding the fine print, trying to minimize your student loan debt out of college, being organized and keeping accurate records of your credit, and the one that Mr. Leberman stressed as extremely important was identifying needs and wants in your everyday life. So many people in today’s world will use credit cards unnecessarily when they could just pay cash, and a lot of times it turns out to impact them negatively. There are many different ways to avoid credit abuse and keep yourself out of debt, and Mr. Leberman gave us many great examples on how to do so.

Mr. Leberman provided our economics class with a lot of great information on how to resist and avoid the danger of credit abuse in today’s world. Credit abuse has been the downfall of countless amount of people in our country, and it has become a serious problem. In my opinion, I genuinely thing that Mr. Leberman’s speech will had a positive impact on me. In addition to all the other information about economics we are receiving in class, it is really beneficial to hear from somebody that sees this kind of stuff happening in the real world on a daily basis. I think that in the future, as I begin to become more economically independent and start my credit history, I definitely have a better knowledge of how not to abuse the power of a credit card and how to be responsible and smart when using credit cards.