Save
Upgrade to remove ads
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

Credit

QuestionAnswer
Creditor one to whom a debt is owed
Capital relating to or being assets that add to the long-term net worth of a corporation
Collateral something pledged as security for repayment of a loan
Finance charge A finance charge is the total cost a borrower pays for using credit, including interest and various other fees, to obtain money or the use of existing credit.
Debt collector (collection) A debt collector is a person or company that regularly collects debts owed to others, typically on behalf of the original creditor.
Credit bureau a private business that compiles information on consumers' creditworthiness and provides this information to lenders
Character assessment of a borrower's trustworthiness and past financial behavior
Credit report a detailed record of your history managing and repaying debt
Capacity a borrower's ability to repay a loan
Credit history a record of having borrowed and repaid money in the past
Credit rating a score or grade that a company or organization gives to a possible borrower and that indicates how likely the borrower is to repay a loan
20/10 rule a debt management guideline suggesting that your total consumer debt should not exceed 20% of your annual take-home pay, with monthly payments not exceeding 10% of your monthly take-home pay.
Debtor a person who takes out a loan from a bank is a debtor to that bank
Bankruptcy Bankruptcy is a legal process for individuals or businesses that cannot repay their debts
Secured loans A secured loan is a type of credit where the borrower uses a valuable asset, such as a car or home, as collateral that the lender can seize if the loan is not repaid.
Unsecured loans do not require collateral.
Reaffirmation the debtor's agreement to continue making payments on an auto loan after the bankruptcy discharge in return for keeping a car that would otherwise be subject to repossession.
Involuntary bankruptcy legal process initiated by creditors to force a debtor business or individual into bankruptcy proceedings.
Voluntary bankruptcy legal process initiated by a debtor who chooses to file a petition with a bankruptcy court because they are unable to pay their debts.
Discharged debts a debt that a bankruptcy court has released a debtor from the legal obligation to repay.
Liquidation the process of closing a business by selling its assets to pay off creditors.
Reorganization a plan to change or rearrange something to improve it
Created by: user-1986134
 

 



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