Term
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Definition
| The supplying of money, goods, or services at present in the exchange for the promise of future payment. |
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Definition
| The business or organization that extends the credit. |
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Definition
| The original amount borrowed. |
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Definition
| Backed by a pledge of property. |
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Term
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Definition
| The property that is pledged to guarentee repayment. |
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Term
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Definition
| One time extension of credit for a specific amount and time period. |
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Definition
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Term
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Definition
| A set portion of the loan amountthat the borrower must pay at regularly scheduled intervals. |
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Definition
| The total cost of using credit, using interest and any fee. |
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Term
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Definition
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Definition
| A firm that collects information about the credit worthiness of consumers. |
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Term
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Definition
| A record of a particular consumers transactions and payment patterns. |
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Term
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Definition
| An evaluation of a consumers credit history. |
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Term
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Definition
| A numerical rating, based credit report information, that represents a persons level of creditworthiness. |
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