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 is a alternative for people who can't get approved for a regular credit card. That includes those with bad credit and brand new credit.
statute of limitations
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.
subprime
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.
universal default
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