the state of legally having been declared unable to pay off debts owed with available income

a measure of financial ability to repay a loan

A measure of your financial responsibility, often based on your credit history

Property put down as security for a loan is known as

An arrangement to receive cash, goods, or services now and pay for them in the future.

company that collects information about your credit history and sells it to lenders

To pay for goods /services and at end of month they pay bill

a record of your past borrowing and repayments

person or institution to whom money is owed

a detailed report of an individual's credit history

The actions or behaviors in which people SHOULD engage when they use credit

the protections put in place by law to help people obtain and maintain credit

a number assigned to a person that indicates to lenders their capacity to repay a loan.

Failure to make minimum payment on time

Earnings from work or investment

A sum paid or charged for the use of money or for borrowing money

The smallest required payment that a credit card holder can pay on a monthly bill and still remain in good standing with the lender.

The amount of money borrowed

The act of taking an asset used as collateral and selling it to pay the debt