Chapter 11 Study Guide
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| Principal | a set portion of the loan amount that must be paid at a regularly scheduled intervals
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| Installment | the original amount of money borrowed plus inter
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| Creditor | a business or organization that extends credit
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| Credit | the supply of money, goods, and services in exchange for the promise of payment
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| Cosigner | person with strong established credit that signs the credit application and contract with the borrower
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| Credit score | numerical rating based on credit report info
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| Credit rating | an evaluation of a person's credit report info
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| APR | an annual percentage rate that is charged for interest
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| Credit limit | The maximum, amount of credit that the creditor will extend to the borrower
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| Down Payment | portion of the purchase price paid with cash or check at the time of purchase
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| Bankruptcy | legal relief from paying certain debts
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| Lien | claim upon property to satisfy a debt
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| Repossession | taking away property for failing to make payments
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| Garnishment | legal withholding of a person's wages in order to collect a debt
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| Delinquent | overdue payments
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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