B - Glossary - Simple Solutions Credit Consulting

Credit Vocabulary
Credit and debt related terms that are on used on this site.

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B
There are 6 entries in the glossary.
Pages: 1
Term	Definition
Balloon Payments	A loan with a balloon payment requires that a single, lump-sum payment be made at the end of the loan.

Bankruptcy	A proceeding in U.S. Federal Court that may legally release a person from repaying debts owed. The law contains several chapters which relate to different methods of relief:

Bankruptcy Code	Federal laws governing the conditions and procedures under which persons claiming inability to repay their debts can seek relief.

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

Bankruptcy Dismissed	A court order that denied one\’s bankruptcy petition making the debtor still liable for all debts.

Budget	A financial plan for saving and spending money.

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