PF 6.02
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Alternative Credit | A credit that may combine elements of open and closed-end credit and usually have higher interest rates and fees than other forms of credit.
A BAD THING TO USE!!!
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| Paw Loan | A loan for the value of personal property
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| Payday Loan | A short-term loan that provides immediate cash by securing a borrower's written check or receiving authorization for automatic withdrawal from the borrower's depository institution account
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| Refund Anticipation Loan | Short-term cash advance secured by a taxpayer's expected tax refund
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| Rent-to-own | Tangible items such as furniture, electronics or household appliances are leased with the condition that the item will be owned by the renter if the term of rent is completed.
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| Title Loan | The borrower gives the lender his/her automobile TITLE in exchange for a set amount of cash. The lender holds the title until the loan is repaid. If the loan is not repaid as agreed, the lender keeps title to the item.
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