Unit 4 Credit and Insurance

Front

A court order that pardons a debtor from paying some debts

Back

discharge

Front

A loan in which the equity in a home is used as a security for the loan.

Back

equity loan

Front

If you pay the full amount owed on your credit card each month, can you avoid paying interest on an outstanding balance?

Back

True

Front

A legal procedure to relieve a person who cannot pay debts or to create a payment plan for paying some of the debts.

Back

bankruptcy

Front

A document that gives a person's credit history and current credit status.

Back

Credit report

Front

Property a debtor is allowed to keep in a bankruptcy proceeding.

Back

exemption

Front

A proceeding in which a creditor may legally take possession of money or goods held by a third party in payment of a borrower's debt. (Ex. Holding money out of a person's paycheck for child support).

Back

garnishment

Front

What do we call having to pool our own financial resources with one or more other persons in order to maintain a physical space (apartment, home, duplex)?

Back

Shared Responsibility

Front

The act of making a plan and carrying it out to ensure that an event takes place.

Back

Logistics

Front

Something of value is exchanged for something of else of value

Back

consideration