Finance Terms#6
The state of being unable to pay debts and obligations.
What is Bankruptcy
A person or organization that lends money.
What is Lenders
This is something you want to accomplish soon.
What is Short Term Goal?
The amount of money that you can borrow from a bank or lender.
What is credit
The money that is held at the bank that gains interest
The information on your credit activity and current credit situation.
What is Credit Report
The amount of money that is charged as interest to the borrower of a loan.
What is Interest Rate
The money received regularly for work or through investments.
What is income
How much of your available credit that you are
This is the fraudulent use of a person's private information for financial gain.
What is Identity Fraud
Something provided to guarantee that a loan is repaid.
What is Collateral
A bank that offers services to the public.
What is Commercial Bank
The amount of money you generate from an investment.
What is Yield
It takes money from your paycheck and puts it towards your retirement.
What is 401k
Banks that allow users to make financial transactions through the internet.
What is Internet Banks
Money that is unpaid. This is also known as debt.
What is Arrears
Transaction that involves transferring money from a different account into yours.
What is Collections
An account that has interest that you can open at banks and credit unions.
What is Money Market Account
These are things that the bank owes to someone else.
Liabilities
A company that provides data to clients throughout the world.
What is Experian
This is the fee paid when you have insufficient funds in your account and you are trying to make a transaction.
What is Return Item Fee
A group that allows members to borrow money at low interest rates.
What is Credit Union
This is a deposit account that earns higher interest than an interest- bearing checking account.
What is Savings Account
This stands for the Federal Deposit Insurance Corporation and was created to keep the public's confidence in the nation's financial system
What is FDIC
These banks collect deposits from the public and lend the deposits for the purpose of agriculture, industry and more.