Credit Reports and Scores

someone who receives something with a promise to return it or its equivalent.

• borrower

• credit

• lender

• tax lien

a loan of a certain amount of money that a borrower must repay in a specified number of equal payments. also known as installment credit

• closed-and credit

• credit

• co-signer

• tax lien

businesses hired by lenders to pursue payments on debts that borrowers have not paid back according to the terms of the credit contract.

• collection agency

• lender

• tax lien

• credit

a person who is equally responsible for paying back debt under the credit terms.

• co-signer

• tax lien

• lender

• borrower

refers to good, services and/or money received in exchange for a promise to pay back a definite sum of money at a future date.

• credit

• lender

• tax lien

• borrower

a record of the borrower's past loans and credit-related transactions.

• lender

• tax lien

• credit

• credit history

the maximum dollar amount that can be borrowed.

• credit limit

• tax lien

• lender

• credit

a record of a person's use of credit

• credit report

• tax lien

• credit

• lender

agencies that create credit reports based on the information they receive from lenders regarding a borrower's account history with that lender. sometimes called credit bureaus

• credit reporting agencies

• credit

• lender

• co-signer

a numerical summary of your credit history that indicates your credit worthiness(likelihood of repaying a loan as agreed)

• credit score

• tax lien

• lender

• co-signer