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Consumer Personal Loans
Credit Card Debt
Advantages of Making Credit Card Debt Payments on Time and Other Tips
Avoiding Credit Card Traps
Credit Card Counseling – Learn Credit Management Tips
Credit Card Debt and Simple Ways to Consolidate Them
Credit Card Debt Consolidation Nationwide Epidemic
Credit Card Debt Consolidation Solutions
Credit Card Debt Help for Senior Citizens
Credit Card Debt Reduction
Credit Card Debt Solutions That Can Help
How to Pay Your Way Out of Credit Card Debt
Paying Off Your Holiday Credit Card Debt
Prevent Identity Theft With a Credit Freeze
Saving Money on Your Credit Card Bills
Terminate Credit Card Debt Without Consolidation
Tips on Credit Cards, Part 1
Credit Collection Laws
Credit Repair Organizations Act
Fair And Accurate Credit Transaction Act
Fair Credit Billing
Fair Debt Collection Practices – Know Your Law
Statute of Limitations
The Fair Credit Reporting Act
The Fair Debt Collections Practices Act
The Truth In Lending Act
Credit Counseling
Can Consumer Credit Counseling Help Avoid Foreclosure
Credit Card Counseling
Credit Counseling a Must for Bankruptcy
Credit Counseling Benefits
Credit Counseling Can Reduce Your Debt
Difference Between Credit Counseling and Debt Settlement
Free Credit Counseling to Help Manage Your Debt
Using Credit and Debt Counseling to Manage Your Finances
What Can Credit Counseling Offer You?
What is Credit Counseling
What to Ask a Credit Counselor?
Credit Education
Consumer's Rights
Establishing New Credit
Finance Charges
Credit Reports and Scores
Credit Repair After Bankruptcy
Do you Know the Benefits of Checking your Credit Report?
Debt Consolidation
4 Valuable Tips on Debt Consolidation
Become Debt Free With Financial Advice
Benefits of Debt Consolidation
Bill Consolidation Loans
Bill Consolidation Advice to Help With Debt
Credit Consolidation: Is It Worth Taking?
Debt consolidation and Ways to Avoid Scams
Debt Consolidation Explained - What Happens if You Don't Pay?
Debt Consolidation Loans
Debt Consolidation Loans for Payday Loan Debt
Debt Consolidation Non-Profit
Debt Consolidation Now Will Improve Your Credit Score Later
Debt Consolidation Provides Relief from Financial Stress
Debt Consolidation Services Helps to Clear Debts
Debt Consolidation – Find Relief To Your Financial Stress
Debt Management Program
Debt Management Program Will Ease Debt Burden
Do You Need Debt Consolidation?
Get a Debt Consolidation Loan to Manage Bad Debts
Government Debt Consolidation Loans
Government Debt Consolidation Loans for Student Loans
How to Consolidate – Debt Help – Consolidate Your Debt Payments
How to Consolidate Bills Effectively When Left in Debt
How to Consolidate Debt
Let the government help you consolidate your debts
The Advantages of Credit Consolidation
Understanding Debt Consolidation Loans
Debt Settlement
Elderly Can Benefit from Debt Settlement
Financial Tools & Calculators
Bill Reminder Tool
Bill Reminder User Guide
Car Loan Calculator
College Savings Calculator
Credit Card Payoff Calculator
Mortgage Loan Payment Calculator
Retirement Calculator
Savings Calculator
Loan Modification Guide – Do It Yourself
Frequently Asked Questions
Step 1: Prepare yourself
Step 2 Gather the necessary documents
Step 3 Know what to expect
Step 4 Contact your lender
Step 5 Review your loan-modification plan
Step 6 Finalize the approval and begin making payments
Home Buying
Build or Buy a Home
Choosing a Real Estate Agent
Home Equity Interest Rate Charges
Home Equity Line of Credit
Home Equity Loan Fees
Managing Your Mortgage
Mortgage Basics
Mortgage Debt Elimination, 3 Things You Must Know
Real Estate Laws
Renting vs Owning
Interesting Money Articles
12 Amazing Facts about Credit Card Debt
12 More Interesting Facts About Money – Part 2
24 Amazing Pictures of Money
Introduction To Budgeting
7 Steps to Successful Budgeting
All You Need to Know About Budget Basics
Basics of Personal Budgeting
Budgeting – How Much?
Debt Management and Prevention Using a Budget
How to Pay Off Debt – Start Budgeting
Maintaining and Budget Planning
Manage Your Debt by Learning How to Budget
The Basics of Budgeting
Transcript – The Basics Of Budgeting
The Importance of a Household Budget
Managing Debt
Debt Relief The Issue of Forgiveness
Get Out of Debt by Changing Your Financial Habits
Personal Finance Management to Reduce Debt
Start Early Teaching Kids Money Management and Savings
Saving Money
Banking & Credit
How 'Charge Offs' Effect You
Insurance & Housing
Money Management Means Setting Goals
Save Money When going to work
Transportation Savings
Utilities and Savings
What Debt Should You Pay First?
Young Couple Finances
Student Loan Debt
Student Loan Default Penalties
Consolidate Student Loans
Student Loans and the Credit Squeeze
Types Of Debts
Auto Loan Prepayment Penalties
Balance Transfers
Credit Card Minimum Payments
Gambling Debt Problem Gambling and Bankruptcy Connection
Holiday Credit Card Debt
Ideas To Save
Inherited Debts?
Six Easily Avoidable Causes of Debt
Ways to Pay Off Holiday Debts
Video Library
Personal Finance Video library
Tax Tips Video library

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Financial Glossary


Activity Any transaction that appears on your bill, including purchases, cash advances, finance charges, fees and payments.

Adjustable Rate Mortgages (ARM)- Mortgage that is set with an interest rate that can vary. This is typically done in preset time periods throughout the mortgage.

Adjusted Balance Method of calculating finance charges where the annual percentage rate is applied to the remaining balance on the account after all purchases and payments are posted.

Annual Percentage Rate (APR)- Rate at which interest is applied to applied to an account over the time period of one year.

Annuity-income from capital investment paid in a series of regular payments

Asset Anything owned that has a value

ATM charges Fees charged by servicing banks when funds are withdrawn from an automated teller machine.

Available Credit The unused portion of the credit limit on an account.

Average Daily Balance Method of calculating finance charges where the annual percentage rate is applied the average balance during the billing cycle that is being calculated.

Bankruptcy Legal proceeding to absolve or restructure outstanding debts

Bankruptcy Discharged– A court order terminating bankruptcy proceedings on old debts.

Bankruptcy Dismissed When a bankruptcy proceeding is denied leaving the debtor liable for the outstanding debt.

Balloon/Reset Mortgage– A mortgage with monthly payments based on a 30-year amortization schedule. With this type the unpaid principal balance is due in a lump sum payment at the end of a specific period, usually 5 or 7 years.

Billing Cycle Time period for monthly billing. Typically 30 days.

Bond-A certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date.

Budget A statement of anticipated income and expenses for a specific period of time.

Capital Gains Amounts earned in interest on accounts.

Cash advance Fees Fee charged by lenders for accepting cash advance from available credit.

Certificate of Deposit (CD)– An interest-bearing bank receipt for a specified amount of money which usually matures between three months and three years. The interest rate earned depends on the amount of money and length of time of the deposit.

Charge Off Status of account that has been written off as a bad debt or not collectable. A consumer still owes the remaining balance.

Closing Date The end of a billing cycle

Collateral Item held as a security guaranteeing repayment of a debt. The item may be collected if payment is not made on an account.

Collection Agency Company that accepts outsourced collection accounts from lenders. Collection Agencies typically will attempt to collect on an outstanding debt for a percentage of the amount collected.

Compound Interest Interest computed on the accumulated unpaid interest as well as on the original principal.

Co-Signer Secondary person on an account guaranteeing that the debt will be paid. If the original borrower does not make payments the co-signer will be liable for the unpaid balance.

Credit Extension of funds on the agreement that the funds will repaid on certain dates.

Credit Bureau Institution that holds consumer credit files. The records maintain may be accessed by consumers applying for credit or lenders looking to make a decision on lending.

Credit Card Account issued by lenders allowing consumers to make purchases. These typically hold an annual percentage rate and fluctuating minimum payment requirements.

Credit Grantor Persons or institutions that extend credit

Credit History An individual history of previous credit accounts were maintained.

Credit limit The maximum amount of credit available on an account.

Credit Line Any extension of credit.

Credit Report File maintained by credit bureaus showing all of a consumers credit accounts, public records, and payment history.

Debt Amount owed to a person or institution.

Debt Management Program developed by banks to assist consumers in repayment of their debts.

Debt Recovery Collection activity engaged in by creditors for outstanding debts.

Debt Settlement Negotiating to repay creditors a lesser amount than is actually owed.

Default Failure to pay a debt as outlined in the original agreement.

Delinquency– A debt or other financial obligation on which payment is overdue.

Derogatory Information Generally refers to negative information in a consumers credit report.

Discretionary Income Amount of income remaining after all obligations have been met.

Finance Charge Total amount of interest and fees accumulated in given billing period.

Financial Narrative CodeIndicator on a consumers credit report that reflects a certain activity.

Fixed Interest Annual percentage rate that does not fluctuate throughout the term of a debt. This is subject to change if certain terms are not met.

Fixed Rate Mortgages  A mortgage that maintains the same annual percentage rate throughout the full term. Generally the premier option for consumers looking for protection from inflation.

Garnishment– A legal proceeding whereby money or property due a debtor but in the possession of another is applied to the payment of the debt owed to the plaintiff. Generally carried out as a garnishment of wages to collect an outstanding debt.

Grace Period Time frame following the due date on an account for the payment to be received without penalty.

Gross Income Total income prior to any deductions.

Installment Loans Loan granted with a fixed payment schedule and interest rate.

Interest– A charge for borrowed money, generally a percentage of the amount owed.

Joint Account An account opened with multiple users, each share the same responsibilities with the debt.

Judgment– A determination of a court of law; a judicial decision determining that a defendant is held liable for the outstanding debt.

Late fee Fee assessed to an account when a payment is made late.

Lease Term agreement for use of property. Example: Car lease or Apartment Lease. No equity is built in a lease agreement and the property needs to be returned when the term is up.

Liabilities Responsibility for unpaid debts.

Liens Attachment to property for an outstanding debt. The property is held as a collateral until the debt is paid. If the debt is not repaid, the property can be sold to cover the debt.

Merchant Cards Credit accounts extended to consumers by merchants for specific use in their store. Example Sears, JC Penny etc.

Money Market Funds– A type of mutual fund that invests in short-term securities such as Certificates of Deposits

Monthly Periodic Rate The amount of the annual percentage rate divided by 12.

Mortgage Loan issued for the purchase of a home or property. There are several different types of mortgages

Net Income Total income after all deductions have been made.

Over limit fees Fee assessed each month that the outstanding balance exceeds the initial credit limit.

Past Due Amount Remaining amount of payment due from a previous billing cycle.

Past Due Fees Fee assessed for having a past due payment amount during a billing cycle.

Previous Balance Method of calculating finance charge where the annual percentage rate is applied to the balance at the end of the previous billing cycle.

Principle Initial amount owed on a loan or credit account.

Public Records An information field on a consumers credit report typically containing any collection accounts, judgments, liens, or garnishments.

Revolving Account An account that maintains a balance each month.

Secured Debt A debt that has a form of collateral attached to it. If the debt is not repaid as scheduled then the collateral can be collected.

Simple Interest Interest applied only on the original principal, not on the interest accrued. This means that out of each months payment a fixed amount will be applied towards finance charges and a fixed amount will be applied towards principle.

Transaction fees Fees charged for any activity on an account.

Variable Interest Rate Interest rate on an account that is not fixed and may be changed according to the original agreement.

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