a person to whom money or goods are due

any financial resource or tangible asset t

is a valuable asset that a borrower pledges to a lender to secure a loan and reduce the lender's risk

is an owner, primary investor, or key leader who holds significant decision-making power and a major stake in a company

charge is the total cost a borrower pays to use or access credit, covering both the interest and any extra administrative or late fees

(collection) (or collection agency) is a person or business that pursues payments on delinquent or past-due accounts originally owed to someone else.

for-profit company that collects financial and borrowing data on individuals and businesses, compiling it into credit reports sold to lenders and third parties

it describes either the legal scope of activities a company is authorized to perform or the core ethical identity and reputation of an organization

is a detailed document summarizing a company's financial profile, borrowing history, and payment track record

the maximum amount of products or services a company can produce and sustain over a specific period using its available resources like labor, equipment, and facilities

history is a company’s official record of how it borrows and repays money

is an independent evaluation of a company's financial health and its ability to repay debt obligations.

a personal finance guideline used to manage consumer debt safely

in business is any individual, company, or entity that owes money, goods, or services to another party (known as the creditor)

a commercial financing option that requires the borrower to pledge valuable assets as collateral to guarantee repayment

is a financing option that does not require you to pledge physical assets, such as property or equipment, as collateral

a voluntary legal contract made during bankruptcy where a debtor promises to repay a discharged debt to keep secured property

in business is a legal release granted by a bankruptcy court that eliminates a company's personal liability for specific financial obligations

wind up a company's affairs, sell its assets, and distribute the proceeds to pay off debts before dissolving the business

the process of making significant changes to a business's legal, financial, or operational structure

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leadership vocab

credit

Term	Definition
Creditor	a person to whom money or goods are due
Capital	any financial resource or tangible asset t
Collateral	is a valuable asset that a borrower pledges to a lender to secure a loan and reduce the lender's risk
Principal	is an owner, primary investor, or key leader who holds significant decision-making power and a major stake in a company
Finance	charge is the total cost a borrower pays to use or access credit, covering both the interest and any extra administrative or late fees
Debt collector	(collection) (or collection agency) is a person or business that pursues payments on delinquent or past-due accounts originally owed to someone else.
Credit bureau	for-profit company that collects financial and borrowing data on individuals and businesses, compiling it into credit reports sold to lenders and third parties
Character	it describes either the legal scope of activities a company is authorized to perform or the core ethical identity and reputation of an organization
Credit report	is a detailed document summarizing a company's financial profile, borrowing history, and payment track record
Capacity	the maximum amount of products or services a company can produce and sustain over a specific period using its available resources like labor, equipment, and facilities
Credit	history is a company’s official record of how it borrows and repays money
Credit rating	is an independent evaluation of a company's financial health and its ability to repay debt obligations.
20/10 rule	a personal finance guideline used to manage consumer debt safely
Debtor	in business is any individual, company, or entity that owes money, goods, or services to another party (known as the creditor)
Secured loans	a commercial financing option that requires the borrower to pledge valuable assets as collateral to guarantee repayment
Unsecured loans	is a financing option that does not require you to pledge physical assets, such as property or equipment, as collateral
Reaffirmation	a voluntary legal contract made during bankruptcy where a debtor promises to repay a discharged debt to keep secured property
Discharged debt	in business is a legal release granted by a bankruptcy court that eliminates a company's personal liability for specific financial obligations
Liquidation	wind up a company's affairs, sell its assets, and distribute the proceeds to pay off debts before dissolving the business
Reorganization	the process of making significant changes to a business's legal, financial, or operational structure

Created by: callenc

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