Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Personal Finance

Chapter 4 Debt

TermDefinition
Lease Long term rental agreement on a car.
Federal Trade Commission One of the government agencies that regulates the consumer credit industry.
Garnishment Usually from a paycheck. Allows a lender to take money from a borrower's paycheck by court order.
Credit Report A consumers credit history. Consumers are allowed to receive for free annually.
Purchases Consumers usually spend less when spending cash then when using a credit card.
Depreciation Loss of value of an asset over time.
Loan term length of loan
Debt snowball Procedure to pay off loans starting with smallest and working towards largest loan payoff.
Factors affecting a credit score type of debt, new debt, duration of debt
Co-signing a loan Dave does not recommend co-signing a loan for a friend or relative.
Credit card A card issued by a bank that allows users to finance a purchase.
Chapter 7 bankruptcy Bankruptcy stays on your credit report for 10 years.
Upside down on loan Owing more on the car or house than what it is worth.
Credit Score Measures your risk of not repaying debt.
Introductory rate An interest rate charged to a customer during the early stages of a loan.
APR Cost of borrowing money on an annual basis.
Mortgage If you cannot afford to pay 100% for a home, the best option is to choose a 15 year mortgage with a fixed rate and 10% down.
Fair Credit Report Act (FCRA) States a person must have a legitimate reason to check someone's credit.
Annual fee A yearly fee charged by a credit card company for the convenience of using the credit card.
3 major credit bureaus Equifax, Transunion, Experian
Created by: lbeddow
Popular Finance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards