Chapter 17 Personal Fin

Debt collector

A person or company hired by a creditor to collect the overdue balance on an account

Credit Bureau

A business that accumulates, stores, and sells credit information to business subscribers

Character

A responsible attitude toward living up to agreements, often judged on evidence in the person's credit history

Credit Report

A written statement of a costumer's credit history, issued by a credit bureau to its business subscribers

Capacity

The financial ability to repay a loan with present income

Credit history

A complete record of a person's borrowing and repayment performance

Discrimination

Treating people differently based on prejudice rather than individual merit

Credit rating

A measure of creditworthiness based on an analysis of the consumer's financial history