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Credit
| Question | Answer |
|---|---|
| Creditor | one to whom a debt is owed |
| Capital | any financial asset, physical good, or resource put to work to generate value, fund production, or drive business growth |
| Collateral | -a tangible or intangible asset that a company pledges to a lender to secure a loan or financing |
| Principal | a key owner, founder, or top decision-maker who holds a high level of authority and usually a financial stake in the company. |
| Finance charge | is the total cost of borrowing money or using credit, expressed as a dollar amount that includes interest and extra fees. |
| Debt collector (collection) | is a person or business that recovers overdue money owed by a consumer or another business. |
| Credit bureau | a private business that collects financial and borrowing history data on individuals or companies, compiles it into credit reports, and sells it to lenders |
| Character | the set of moral and mental qualities, core values, and habits that guide how a person or company acts and makes decisions. |
| Credit report | an official record showing how a company borrows and repays money. |
| Capacity | the maximum amount of work, products, or services a company can produce in a set time using its current resources |
| Credit history | a public record of a company's financial reliability, specifically showing how responsibly the business borrows and repays its debts over time |
| Credit rating | is an official evaluation of a company's financial health and its ability to pay back debt |
| 20/10 rule | is a slang or informal grade used to describe something that far exceeds expectations or is absolutely perfect |
| Debtor | an evaluation of how likely a business or borrower is to pay back what they owe or default on a loan |
| Bankruptcy | a number that indicates the likelihood of an individual or a commercial entity filing for bankruptcy |
| Secured loans | a loan that requires the business to provide valuable assets as collateral to guarantee repayment |
| Unsecured loans | a type of funding that does not require you to pledge physical assets—like equipment, inventory, or property—as collateral |
| Reaffirmation | a voluntary legal agreement made during bankruptcy where a borrower agrees to keep paying a specific debt that would normally be wiped out. |
| Involuntary bankruptcy - | bankruptcy declared upon petition of creditors |
| Voluntary bankruptcy | bankruptcy declared upon petition of the debtor |
| Discharged debts | a legal release that permanently removes a debtor's obligation to pay a specific debt |
| Liquidation | the process of converting a company's assets into cash to pay off creditors and shareholders |
| Reorganization | the process of making major changes to a company's structure, ownership, operations, or finances to improve efficiency or survive financial distress. |
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