finance

Interest and fees you pay on a credit card balance

• installment credit

• credit report

• collateral

• finance charges

Getting service and paying for them later

• service credit

• finance charges

• secured loan

• revolving credit

A new loan arrangement that allows you to make reduced payments, usually on a temporary basis

• loan modification

• debt consolidation

• payday loan

• home equity loan

A service to help consumers manage credit and avoid bankruptcy

• debt consolidation

• credit bureau

• credit manamgement

• credit counseling

A number that represents the risk a lender takes when you borrow money

• revolving credit

• credit card

• bankruptcy

• credit score

Plastic card linked to a credit account that can be used to make purchases

• payday loan

• credit score

• revolving credit

• credit card

A penalty charged when you fail to make your minimum payment by the assigned due date

• over the limit fee

• late fee

• annual fee

• finance cahrges

The legal process of taking possession of a house when a borrower does not make mortgage payments as agreed

• home equity loan

• collateral

• bankruptcy

• foreclosure

A second mortgage or debt secured with the equity in your home

• payday loan

• credit card

• home equity loan

• secured loan

A statement of your credit history your borrowing and repayment performance

• credit report

• collateral

• credit card

• credit counseling