Throwback Tuesday Quiz

This is someone who has loaned money to another.

• Debtor

• Creditor

• Banker

• Merchant

A ______ is a detailed breakdown of an individual's credit history prepared by a credit bureau.

• Credit Score

• Creditworthiness

• Credit Report

• Credit Matrix

The unpaid portion of a loan or credit account excluding interest and other fees.

• Principal Balance

• Payoff Amount

• Minimum Due

• Quote

A monthly payment that a borrower needs to pay to keep their account current and avoid late fees.

• Payoff Amount

• Quote

• Principal Balance

• Minimum Due

This is declared when an individual's obligations, debts and bills cannot be satisfied or paid off because the individual doesn't make enough money.

• Bankruptcy

• Foreclosure

• Refinance

• Repossession

The most common examples of this type of account are electricity, natural gas, water and mobile contracts.

• Installment Account

• Revolving Account

• Open Account

• Debit Account

A "for profit" company that collects information relating to credit rating of individuals and makes those ratings available to credit card companies, financial institutions, consumers, etc.

• Credit Furnishers

• Credit Bureau

• CROA

• Lexington Law

This happens when monthly mortgage payments to a bank stop. After a short period of time, the bank is allowed to foreclose on the house.

• Repossession

• Refinance

• Collateral

• Foreclosure

Bankruptcy can be reported for up to _____ years.

• 10

• 7

• 5

• 2

A one-time cash payment that is submitted early in the loan application process.

• Minimum Due

• Overdraft

• Down Payment

• Payoff Amount