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Definition
| When a debtor's assets are sold to settle unpaid debts and the debtor is no longer resposible for further debt beyond what was recovered |
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| Mail that gives the sender proof of recepit from the U.S postal service |
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Definition
| A summary of a person borrowing and repayment history |
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Definition
| a report on a person's creditworthiness that includes identifying information, credit cards, late patments |
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Definition
| Federal law giving consumers the right to view and correct their credit information |
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Definition
| A creditworthiness score, like the regular FCO score,Has a scale of 300-850, but is based on nontraditional acounts and fiancial information ources and is designed for young persons new immigrants or other without a tradin |
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| Credit score from 300-850 that rates how likely a person is to fall 90 days behind in a payment |
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Definition
| When a bank takes back property and auctions it off to recover the unpaid loan amount |
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Definition
| Loan with equal number of payment |
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Definition
| a promise to reclaim an item bought with loaned money if the loan is not repaid |
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