Managing Credit Vocabulary

A financial situation where an individual or entity cannot repay their debts

A type of investment strategy

A method of saving money

A form of insurance

Liquidation of assets

Reorganization of debts

Debt consolidation

Credit counseling

Discharge all debts without repayment

Repay debts over a period of time

Sell all assets to pay off debts

Avoid paying any debts

A charge-off is a declaration by a creditor that an amount of debt is unlikely to be collected.

A charge-off is a type of loan that is forgiven by the lender.

A charge-off is a fee charged by banks for overdrawing an account.

A charge-off is a penalty for late payment on a credit card.

A type of loan

A process of recovering overdue debts

A credit score evaluation

A financial investment strategy

a government agency that ensures banks, lenders, and other financial companies treat consumers fairly.

a private organization that provides financial advice to consumers.

a non-profit organization that offers financial education programs.

a department within the Federal Reserve that manages monetary policy.

A financial arrangement where a borrower receives something of value now and agrees to repay the lender at a later date.

A type of investment in the stock market.

A method of saving money for future use.

A government policy for economic growth.

A financial institution that provides loans

An agency that collects and maintains credit information

A government body that regulates banks

A company that offers investment advice

a professional who helps individuals manage their debt and improve their financial situation.

a person who provides legal advice on credit-related issues.

an individual who offers investment strategies and stock market tips.

a financial advisor specializing in retirement planning.

A record of a borrower's responsible repayment of debts

A list of all bank accounts

A summary of monthly expenses

A report of annual income