Cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan.

An expense, such as a charitable contribution, that can be deducted from one's taxable income.

Time frame that a loan agreement is in force, and before or at the end of which the loan should either be repaid or renegotiated for another term.

An interest rate charged to a customer during the early stages of a loan; the rate often goes up after a specified period of time.

A decrease or loss in value.

A measure of an individual's credit risk; calculated from a credit report using a standardized formula.

Type of card issued by a bank that allows users to finance a purchase.

A detailed report of an individual's credit history.

Preferred method of debt repayment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest, which is attacked wit the largest possible payments.

Charges of 400% and up for their services.

Money loaned.

Using your home as collateral to borrow money.

A different way of looking at something.

A person who agrees to repay a loan if the borrower does not repay it.

A mortgage whose rate of interest is adjusted periodically to reflect market conditions.

A form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt. Usually keeps one in debt longer by extending out the payments.

A contract by which one party conveys land, property, services, etc., to another for a specified time, usually in return for a periodic payment. The car lease is the most expensive way to operate a motor vehicle.