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25 Questions

1. Is a loan that does not require collateral from the borrower

2. Legal process that allows someone deeply in debt to create a plan to repay their debts

3. A loan that is repaid with a fixed number of periodic equal-sized payments

4. When someone with strong established credit signs a contract along with the borrower

5. The amount left over after subtracting - as - for example - the amount owed on a loan (also called principal balance) or the amount in an account

6. An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period

7. The total amount that a person is charged for borrowing money; includes interest plus any service charges or insurance premiums

8. Puchasing more than your budget allows

9. A record of whether or not a person has paid his or her bills on time in the past

10. Yearly percmet amount it will cost a person to use credit

11. Deals with debt adjustment or reorganization for individuals - allows people to put forward a plan to repay creditors over time - usually from future income

12. A period in which a debt may be paid without accruing further interest or penalty

13. A card used for making payments; balance must be paid in full when the statement is received

14. Provided a temporary loan at a high interest rate until your next paycheck

15. A nonprofit agency that gives free advice to people in financial difficulties

16. A claim upon property to satisy a debt

17. A penalty for making a payment after the due date

18. Taking away property due to failure to repay the debt

19. Provides a uniform manner of calculating and presenting the terms of consumer loans to enable you to compare costs so you can make informed choices about credit

20. A credit agreement that allows consumers to pay all or part of the outstanding balance on a loan or credit card. As credit is paid off - it becomes available again to use for another purchase or cash advance

21. Deals with reorganization of businesses - provides that - unless the court rules otherwise - the debtor remains in possession of the business and in control of its operation

22. If the consumer makes the minimum payment - interest charges continue to accrue on all outstanding balances.

23. A report showing all accumulated credit data on an individual; This is used for granting or denying credit

24. One who places mortgage loans with lenders for a fee - but does not orginate or service loans.

25. A payment required for not fulfilling a contract

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