A creditor is a person, business, or financial institution that lends money, extends credit, or provides goods and services to another party with the expectation of repayment.

Capital is any financial resource, asset, or good used to produce value, run a business, or generate wealth.

A valuable asset—such as a home, car, or cash—that a borrower pledges to a lender to secure a loan.

Principle is a fundamental truth, law, doctrine, or guiding standard that serves as the foundation for a system of belief, behavior, or reasoning.

A finance charge is the total cost you pay to borrow money or use credit, including both interest and extra fees.

Debt collector (collection)

A debt collector is a person or company that regularly collects past-due debts owed to others, or a business whose main purpose is collecting third-party debts.

Is a company that collects financial data about consumers and compiles it into credit reports.

Character is a person, animal, or symbol with distinct mental, moral, or physical qualities.

A credit report is a detailed record of your credit history and financial behavior compiled by nationwide credit bureaus.

Capacity is the maximum amount that something can hold, produce, or contain, or a person's ability to do something.

Credit history is a record of how you borrow and repay money.

A credit rating is an independent evaluation of a corporation, municipality, or government's overall ability to repay its financial obligations and debts.

Is a financial guideline designed to help you keep consumer debt at a safe and manageable level

A debtor is a person, company, or country that owes money to another party.

Legal protection from its creditors to either liquidate its assets or reorganize its business.

A secured loan is a type of credit backed by a valuable asset, known as collateral, such as a home, car, or cash deposit.

An unsecured loan is a type of debt that does not require you to provide collateral (like a house or a car) to back.

Reaffirmation is the act of stating, proving, or confirming something again.

A discharged debt is a legal release from personal liability for a debt, meaning the borrower is no longer required to pay it back.

Wind up a company by selling its assets to pay off debts.

Reorganization is the act of changing how a company, business, or system is structured, arranged, or managed to make it work better.

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Leadership Vocab

Term	Definition
Creditor	A creditor is a person, business, or financial institution that lends money, extends credit, or provides goods and services to another party with the expectation of repayment.
Capital	Capital is any financial resource, asset, or good used to produce value, run a business, or generate wealth.
Collateral	A valuable asset—such as a home, car, or cash—that a borrower pledges to a lender to secure a loan.
Principal	Principle is a fundamental truth, law, doctrine, or guiding standard that serves as the foundation for a system of belief, behavior, or reasoning.
Finance charge	A finance charge is the total cost you pay to borrow money or use credit, including both interest and extra fees.
Debt collector (collection)	A debt collector is a person or company that regularly collects past-due debts owed to others, or a business whose main purpose is collecting third-party debts.
Credit bureau	Is a company that collects financial data about consumers and compiles it into credit reports.
Character	Character is a person, animal, or symbol with distinct mental, moral, or physical qualities.
Credit report	A credit report is a detailed record of your credit history and financial behavior compiled by nationwide credit bureaus.
Capacity	Capacity is the maximum amount that something can hold, produce, or contain, or a person's ability to do something.
Credit history	Credit history is a record of how you borrow and repay money.
Credit rating	A credit rating is an independent evaluation of a corporation, municipality, or government's overall ability to repay its financial obligations and debts.
20/10 rule	Is a financial guideline designed to help you keep consumer debt at a safe and manageable level
Debtor	A debtor is a person, company, or country that owes money to another party.
Bankruptcy	Legal protection from its creditors to either liquidate its assets or reorganize its business.
Secured loans	A secured loan is a type of credit backed by a valuable asset, known as collateral, such as a home, car, or cash deposit.
Unsecured loans	An unsecured loan is a type of debt that does not require you to provide collateral (like a house or a car) to back.
Reaffirmation	Reaffirmation is the act of stating, proving, or confirming something again.
Involuntary bankruptcy	No choice
Voluntary bankruptcy	You have a choice
Discharged debts	A discharged debt is a legal release from personal liability for a debt, meaning the borrower is no longer required to pay it back.
Liquidation	Wind up a company by selling its assets to pay off debts.
Reorganization	Reorganization is the act of changing how a company, business, or system is structured, arranged, or managed to make it work better.

Created by: KJ233

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