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| a legal process that allows part of your paycheck to be withheld to pay a debt |
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| a fair share, or percentage of the total.A pro0rata debt list shows the percent of your total debt that each creditor represents |
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| an agency that collects and monitors the balance and payment history of all your debts |
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| when a debtor's assets are sold to settle unpaid debts and the debtor is no longer responsiable for further debt beyond that was recovered |
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| mail that gives the sender proof of reciept from the U.S. postal service |
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| a summary of a person's borrowing and repayment history |
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| A report on a person's creditworthiness that includes identifying infromation, credit cards, late payments, bankruptcies, and saving balances |
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| Fair Credit Reporting Act (FCRA) |
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Definition
| federal law giving consumers the right to view and correct their credit infromaton |
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| A credit worthiness score that, like the regular FICO score has a scale of 300-850, but is based on non traditional accounts and financial infromation sources and is designed for young persons, nrew immagrants, or others without a traditional credit history |
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| credit score from 300-850 that rates how likly a person is to fall 90 days behind in payment |
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| when a bank takes back a proprty and auctions it off to recover the unpaid loan amount |
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| loan with equal number of payments of the same amount over a fixed period of time |
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| a promise to reclai an item bought with loaned money if the loan is not repaid |
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