S-V
Learn the key terms involved with credit and debt management. This glossary contains definitions and miniature lessons on the basic and advanced aspects of credit and debt management.
secured credit card
A secured credit card requires you to make a deposit against the card's credit limit.
A secured credit card requires you to make a deposit against the card's credit limit.
statute of limitations
the amount of time a creditor or third-party debt collector can sue you for a debt
the amount of time a creditor or third-party debt collector can sue you for a debt
student loan default
a state of delinquency on student loans occurring after you have violated the terms of your contract, e.g. have not made a payment or arrangements for at least 270 days.
a state of delinquency on student loans occurring after you have violated the terms of your contract, e.g. have not made a payment or arrangements for at least 270 days.
subprime
a segment borrowers that do not qualify for market interest rates because of bad credit history
a segment borrowers that do not qualify for market interest rates because of bad credit history
tax lien
the right, usually by the county, state, or federal government, to take possession of property due to a delinquency on taxes.
the right, usually by the county, state, or federal government, to take possession of property due to a delinquency on taxes.
universal default
the lender enforces default terms on a borrower that has defaulted with another lender
the lender enforces default terms on a borrower that has defaulted with another lender
variable interest rate
an interest rate that moves up and down based on another interest rate
an interest rate that moves up and down based on another interest rate