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installment when a debt is divided into several payments. Interest can be charged. deduction taking a part out of a payment/account to pay something else indicators a notable or significant fact that can lead you to analyze something else liability something owed or an obligation disposable income a part of a person's income remaining after deducting income taxes casualty a thing or group that suffers loss as a result of an event (insurance company) collision a clash/conflict--- a term used by insurance companies term life a type f life insurance that provodes a payment upon death--- consumer buys this insurance for a specific period of time comprehensive coverage comprehensive coverage insurance designed to pay for the repair or replacement of the policy owner's car in the event of damage not resulting from an accident policy holder the owner of an insurance policy bounced (or rubber) check check returned to original bank because there are insufficient funds to cover the account allowances a fixed payment made on a specific date or time periiod liquidate to sell everything a company owns in order to pay outstanding debts inflation the increase in the cost of goods and services over time, measured by Consumer Price Index stagflation when high inflation and unemployment rates occurs in a country