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Tessa Dumadag Unit 4: Credit and Debit
Terms in this set (25)
Any paid form of communication through mass media directed at identified consumers to provide information and influence their actions. It is the most known and used type of mass promotion.
A method for computing equal periodic payments for an installment loan.
Automatic Clearing House
mechanism that operates through federal reserve: transfer from one thing to another
A condition under which a person or corporation is declared unable to pay debts
A person who is responsible for he thoughts and actions within a story, poem, or other literature.
A security pledged for the repayment of a loan.
Consumer Protection Act
laws and organizations designed to ensure the rights of consumers as well as fair trade competition and the free flow of truthful information in the marketplace.
A mechanism for procurement of a product or service with specific obligations for both sponsor and recipient. Typically, a research topic and the methods for conducting the research are specified in detail by the sponsor, although some sponsors award these in response to unsolicited proposals.
An arrangement to receive cash, goods, or services now and pay for them in the future.
a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered
Credit Card Bill of Rights
The 2009 Act amends the Truth-In-Lending Act to establish fair and tranparent practices relating to credit cards.
Credit Counseling Service
An organization that provides debt and money management advice and assistance to people with debt problems.
A rating used by credit reporting companies to help lenders decide whether and/or how much credit can be extended to a borrower.
A detailed record of your personal credit and financial transactions
a measure of one's ability and willingness to repay a loan
a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account
An obligation or liability to pay or render something to someone else.
The act of combining all debts into one monthly payment, typically extending the terms and the length of time required to repay the debt.
Free Application for Federal Student Aid, Application that students must complete to qualify for federal aid.
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