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Definition
| supplying of money, goods or services at present in exchange for future payment |
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| business or organization that extends the credit |
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| property pledged to gaurantee repayment |
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Definition
| one time extension of credit for a specific amount and time period |
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Term
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Definition
| used repeatedely , line of credit |
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Definition
| set portion of the loan amount that the borrower must pay at regguarly |
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| total cost of credit, including interest |
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Definition
| pattern of past behavior in repayinf debt |
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| record of a particular consumers transactions and payment patterns |
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Definition
| evaluation of a consumers credit history |
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| mumerical rating based on a credit report |
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| person with a strong established credit history who signs for a borrower |
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Definition
| period of t ime during which the balance may be paid in full to avoid additonal charges |
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Term
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Definition
| maximum amount of credit the creditor will extend to |
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Term
| consumer finance comapanies |
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Definition
| businesses that specialize in making small personal loans |
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| portion of the purchase you must pay at that moment |
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Term
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Definition
| final payment that is much larger than the others |
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Term
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Definition
| gives the seller the right to charge the whole payment if they miss a payment |
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Term
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Definition
| additional purchases to an installment contract |
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Definition
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Term
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Definition
| failure to fulfill the obligations of the loan |
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| taking property due to failure to pay a loan or creit |
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| business that collects unpaid debpt |
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| claim upon property to satisty a debt |
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Definition
| legal withholding of a specified sum from a persona wages |
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Term
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Definition
| guidance provided to help consumers learn to live within their means |
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Term
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Definition
| combines all existing debt into a new loan with more managable pay |
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Term
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Definition
| legal relief from repayinf debts |
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