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Definition
| Allows you to buy goods and services and pay for them later |
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| Supplies money goods or services to the other |
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| A legally binding agreement between the borrower and the creditor |
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| Annual Percentage Rate(APR) |
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Definition
| Is the annual cost of credit a lender charges |
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Definition
| loan in which the borrower pledges some asset |
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| Property that a borrower promises to give up in case of default |
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| Is a responsible person who signs yhe loan with you |
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Definition
| A loan that must be Repaid |
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| Allows the borrower to use a certain amount of money |
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Definition
| An applicant that is judged to have the assets income and tendency to repay debt |
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| A record of a person credit history |
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| Used to buy goods and services on a time payment plan |
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| The time between the billing date and the start of interest charges |
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Definition
| Taking back of collateral when a borrower fails to repay a loan |
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| The forced state of a property |
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| A legal claim on a borrowers property by a creditor who is owed money |
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| Legal procedure Requiring a portion of the debtors pay |
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| Legal state in wich the courts excuse a debtor from repaying some of all debt |
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Definition
| Someone who loans money at excessive rates of interest |
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Term
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Definition
| Short Term loans granted regardless of credit history at high interest rates| |
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Term
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Definition
| Short term,high interest loans |
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Term
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Definition
| A business that gives customers high interest loans with personal property |
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| Arrangement in wich a costumer pays rent for the use of a product and eventually owns it |
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Term
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Definition
| A short term loan using aborrowers card as collateral |
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